I am a bored entrepreneur who wants the next challenge. Should I sell?

Dear Aunty B,

My company is seven years old; I am bored and just about to turn 50. We make an okay profit but revenue has pretty much stayed the same for the past five years. I don’t know whether to get out or put in a lot of effort and push it hard to get to another level.

I am in the advertising space and I enjoy the business but I also understand that these businesses have a cycle. Should I consider selling or ramping it up?
Which way?
Victoria

Dear Which Way,

Congratulations. Running a profitable business is reason to celebrate. Don’t underestimate how hard that is. I certainly don’t. The first thing to think about here is your boredom. When entrepreneurs are bored, they do stupid things. You are only 50! That means you have 20-30 more working years ahead of you.

What are you going to do? You’ll be bored stiff six months after you sell. Would you have more fun starting again? Honestly? Remember how hard it was at the start? Or think about challenging yourself to get to the next level? You say you enjoy the business. I am thinking you should ramp it up.

Don’t get me wrong. I know the effort involved in ramping up a business like yours. You’ll need new clients, new staff, new processes, new technology – how exciting! It will be a huge challenge and should keep you focused for the next 10 years.

One way to handle entrepreneurial boredom is to get rid of tasks you don’t like doing and free yourself up for more thinking, flexible time. You also need a structure in place so you can take regular holidays so you get outside the office environment. Also focus on your life outside work. Half the entrepreneurs I know risk their lives every weekend doing extreme sport or shaking up community and charity events. Set yourself some goals around fitness, raising money or improving your golf with the kids.

Another useful way entrepreneurs stay engaged is to join industry groups with the aim of improving their industry and lifting the profile of their business.

1. Good luck!
   Your Aunty B

2. To read more Aunty B advice, click here.

   Email your questions, problems and issues to auntyb@smartcompany.com.au right now!