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  Post #1 (permalink)   08-18-2009, 11:31 PM
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Today, I was talking to a really good friend of mine who does writing work int he industry. He made a choice a couple months ago to walk away from his business and let it go. He was having time issues and a little fun factor too. He went and spent some time this summer traveling.

While he was traveling he made an interesting decision to come back and grow his business. He reached that tipping point of do I hire someone else and cross that point or do I stay at the same level or downsize. '

It was a very good refresher of what I had gone through a year ago int he industry. I decided to cash out. At that time, it was the best thing for me to do and to be honest, I still think it was the best thing.

The point that I am trying to make is, look very closely not only at what is happening now, but what the future holds as best as you can. No one likes to look back on history and be like damn if I would have not bailed on Microsoft Stocks. Take a week or two away and really dig deep. For some, it might be best to forge further and hire employees and for others it might be best to step away.

Another thing to remember is, as a business owner, you can only take your business so far before fresh and new ideas need to be injected in the concept. To hesitate to hire and grow, you just might find the thing you have always been looking for.
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  Post #2 (permalink)   08-19-2009, 02:04 AM
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Well said. You can't do the same things over and over again and expect different results. I myself went through something very similar a few years ago, though it wasn't exactly my choice to cash out, rather I simple didn't have the cashflow.

This is another reason why starting out very small/slow isn't a bad idea as you're likely not to be overwhelmed and have much more time to foresee futuristic needs(additional staff, etc).
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  Post #3 (permalink)   08-19-2009, 08:20 AM
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Well, my hat goes off to every entrepreneur who sticks their neck out and makes the effort, regardless of whether their business or project succeeds. The key is persistence - never completely giving up. Sometimes you have to step back and retool. Sometimes it involves changing careers.
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  Post #4 (permalink)   08-19-2009, 08:22 AM
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Quote:
Originally Posted by siforek View Post
Well said. You can't do the same things over and over again and expect different results. I myself went through something very similar a few years ago, though it wasn't exactly my choice to cash out, rather I simple didn't have the cashflow.

This is another reason why starting out very small/slow isn't a bad idea as you're likely not to be overwhelmed and have much more time to foresee futuristic needs(additional staff, etc).
When I started out, I was using my Blackjack and working full-time. I then left the company I was working for because I could not stand their corporate culture. Then I started working for an Internet company from my office and still doing the web hosting thing. While that free'd up some time, it just still wasn't where I needed to be. Glad to see you jumped back in.
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  Post #5 (permalink)   08-19-2009, 08:23 AM
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Originally Posted by Steve-Hostirian View Post
Well, my hat goes off to every entrepreneur who sticks their neck out and makes the effort, regardless of whether their business or project succeeds. The key is persistence - never completely giving up. Sometimes you have to step back and retool. Sometimes it involves changing careers.
Steve, I don't remember this coming up; but, have you ever started a business? Anything Web related?
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  Post #6 (permalink)   08-19-2009, 08:26 AM
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Every business will have growing pains along the way, and it's a matter of adjusting to it (working longer hours, hiring in more staff) or getting out of the business and making a few coins on the way.

We've had some big offers in past years to purchase our hosting company but each time I had decliened. Not 6 or 8 months later I'd think "I should have taken the money", I go through a slight downturn, take a break, come back and fight a bit harder. Things then go on the upswing again and again I get an offer, and again I refuse it. It seems to be the nature of the beast for me

Having time, or creating time, for oneself is an important step that many people overlook. You can only burn the candle at both ends for so long, and then you either break or expand.

There's NOTHING wrong with selling the companies, this is part of business, and each situation is unique to ones own self.
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  Post #7 (permalink)   08-19-2009, 08:37 AM
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Originally Posted by handsonhosting View Post
Every business will have growing pains along the way, and it's a matter of adjusting to it (working longer hours, hiring in more staff) or getting out of the business and making a few coins on the way.

We've had some big offers in past years to purchase our hosting company but each time I had decliened. Not 6 or 8 months later I'd think "I should have taken the money", I go through a slight downturn, take a break, come back and fight a bit harder. Things then go on the upswing again and again I get an offer, and again I refuse it. It seems to be the nature of the beast for me

Having time, or creating time, for oneself is an important step that many people overlook. You can only burn the candle at both ends for so long, and then you either break or expand.

There's NOTHING wrong with selling the companies, this is part of business, and each situation is unique to ones own self.
Talk about luck. Maybe, there is something keeping you in the industry because your hosting company is going to grow by 20 fold in the next year.
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  Post #8 (permalink)   08-19-2009, 08:59 AM
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Quote:
Originally Posted by Zachary McClung View Post
Steve, I don't remember this coming up; but, have you ever started a business? Anything Web related?
Yes, I have started a number of businesses (a typesetting business, a wholesale software distribution company, a liquidation company and others. I still have our Salon (five years - Aloha Salons) and I still have a web hosting and design business separate from Hostirian (four years).
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  Post #9 (permalink)   08-19-2009, 09:04 AM
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Originally Posted by Steve-Hostirian View Post
Yes, I have started a number of businesses (a typesetting business, a wholesale software distribution company, a liquidation company and others. I still have our Salon (five years - Aloha Salons) and I still have a web hosting and design business separate from Hostirian (four years).
Your a hairstylist too?
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  Post #10 (permalink)   08-19-2009, 09:09 AM
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I agree....back about five years ago, I had a semi-decently going web host that I decided to sell.

It was just a bad time in my life, and I wasn't really ready to run a business the way it needed to be run to succeed. I've learned many lessons since then, and now (I think) I have the tools to do better where before I didn't have the knowledge or maybe the drive to do so.
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  Post #11 (permalink)   08-19-2009, 09:18 AM
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Your a hairstylist too?
No, not me - my wife has been an instructor for years. I handle the admin side of things.
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  Post #12 (permalink)   08-19-2009, 09:26 AM
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No, not me - my wife has been an instructor for years. I handle the admin side of things.
I was getting worried. Everyone gets a butch cut.
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  Post #13 (permalink)   10-19-2009, 10:01 PM
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Business is a two way process, it should have the right communication between the business owner and the consumers to create a smooth flow to both economic and self-success.
 
 
 


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  Post #14 (permalink)   10-20-2009, 11:05 AM
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I was getting worried. Everyone gets a butch cut.
Love the butch cut comment. Actually, we have a special treatment for men - pulling out nose hairs - uses a special kind of wax - one quick tug and you're good to go for a few weeks - breathing easy!
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