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…
If you’ve gotten this far, it makes sense to hire a top executive to do everything that you do. Delegate 95% of your responsibilities, and maybe only keep the financial decisions in your hand. That will free up your time to do something that you love, or find a new business altogether. If I were you, I’d still continue with the business, except keep myself out of it for the most part. Pay your executive well, and keep performance incentives, so he or she will almost feel like the business owner itself.