I started a service-based business three years ago, and we just hit six figures in revenue (only about 10-20% is profit). I know exactly what I need to do to expand the business and grow in profitability; however, I hate this industry.
I struggle to find qualified candidates to offer the service. The clients are extremely demanding and high-maintenance. I hate offering the service myself due to the clients.
Has anyone else started a business they hate? I don’t want to just “give up” when the company could be successful, but I can’t stand this industry…
I’m in exact same position, I could have wrote this post myself. I’m 5 years in and trying to sell. I’ve destroyed my mental and physical health. My employees I’ve had were immensely overpaid (me hoping they would care about doing a good job) and ended up being dishonest and adjusting their pays by adding hours and cashing out services dishonestly. Once I took a deeper look at things it broke my heart. I’m not an authoritative person … people walked all over me in ways I never could have imagined. I will never trust anyone to work for me again. I’m doing all the services and running the business until it sells. Everyday I wake up that I have to work, I have to force myself out of the house I’m often sobbing in despair.
I’m 30+ years into my business (i started at 12). It used to be niche and cool. Now it’s mass-market and filled with absolute shitty people. I’ve experienced it all, but I keep at it because I’m making great money.
I only kept at it this long because I thought I might pass this down to my kids, but I realized I don’t want them to feel the way I’m feeling now.
I’m planning a five year exit to transition into my other business.
I feel for you mate, had similar and it’s heart breaking.
A true entrepreneur would reflect and say “how can I do things differently to account for my (insert trait here) so (insert out one of trait here) doesn’t occur again or is minimized”.
Friends, unless you build systems and processes to scale, you’ll always have a job. It will typically never be fulfilling to work a job as the owner, you want to run a business as an owner. If you are doing it like a job, you are better getting a job to have free-time at the least. You need to scale ASAP to the point you can start delegation and halve your workload. Then keep scaling until you get to pick only what you want to do (such as business dev, or in my case, other ventures)
I like you way of thinking
Normal is whatever you believe normal to be
I also emphasize with OP and can relate and hopefully your words are taken in good spirit
I do as well. I’ve been there.
Get a business partner. One who doesn’t take any shit, put them on a profit share and let them loose on implementing standards and discipline amongst your employees. You meanwhile, take your lovely demeanour and be the customer facing side of the company. Me and my brother have run like this for years and it works. He’s the nice guy, I’m the arse kicker. Play to your strengths. Believe it or not, being a nice guy can be a major strength if you play it right.
This is great advice, I tried to get a partner last year… a few people were interested but couldn’t get them to follow through. I’m so far past the point of burn out, I pray every day for it to be over. I would make a terrible partner at this point. Need to sell and cash out asap, get what I can and be 100% done. I have people interested to buy 🤞
I think you can say you gave it a good shot but if it’s making you unhappy, it’s never going to be worth it. You need to at least like the majority of the time you spend working. Cash out if you can mate, life’s too short. Good luck with everything 👍🏻