MBA1637 Do You Need a Change? + Free Ride Friday

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Hey, today is Free Ride Friday, so make sure you hang on to the end of the episode to hear who won this week's Free Ride. Every Friday we give away a lifetime membership to one of our programs. We're giving away Easy course over at EasyCourse Co, our $500 course on how to build your own online course. If you want to win, just leave us a review over on Apple Podcasts. By doing that, you enter our weekly random draw we call Free Ride Friday. Just listen in on Friday like today to see if you won. It's that simple. And you enter the draw every single week automatically until you win once you leave us a review. So go ahead, pause and do that right now. All right, you're back. Let's jump into today's episode. Hey. Welcome to the $100 MBA show where we're in the business of making your business a success. That's why we deliver daily 10 minute business lessons for the real world. I'm your host, your coach, your teacher Omar Zenholm. I'm also the co founder of the $100 MBA, a complete business training and community online. And in today's lesson we discuss do you need a change in entrepreneurship? Sometimes you look up and you look at your life and you ask yourself, how did I get here? You might Be frustrated, you might be tired, you might be not as motivated as you used to to get up and go to work. The whole point of becoming an entrepreneur is doing what you love for a living, is being empowered, is taking control of over your time and how you spend it. But if you're just not feeling it anymore, does that mean that you need to make a change? Is it time to sell the business, close up shop, start something new? Well, we get into all of that in today's lesson. So let's get into it. Let's get down to business. I want to preface this topic with a little bit of context. I'm not talking about that on a one off day you feel tired or you don't feel like kind of doing the tasks on your to do list. I'm talking about consistent days, maybe even weeks, where you start feeling like, I don't know why I'm doing this. I'm not happy. This is not the way I want to live. I've built a business maybe that I don't want or simply just don't enjoy. I first want to recognize that these feelings are real. This is not uncommon. It's very common. And it doesn't make you a bad entrepreneur. It doesn't make you a weak. And this is not the time to start blaming yourself for putting yourself in this quote unquote position. First of all, it's an honor. It's a privilege for you to even have a business and for you to even be in this position where you're making this decision. So recognize that first. The next thing is that it's very easy to make really big decisions in moments like this, in moments of frustration, in moments of feeling down, feeling low, feeling really just, you know, fed up and tired. It's very dangerous to make big decisions like leaving your company, selling your company, closing things down, changing things. So the first step I would like you to take if you're in this position is actually to do nothing. You have to make some time, put it in your calendar, see it as like mandatory for your business and your life to take a few days off. I recommend taking two to three days off. That is maybe bridged with a weekend. So maybe it would be in total four or five days. And when I say off, I literally mean off. Like you have to take a digital detox. You have to shut off all notifications. You have to step away from your business. And this is not asking a lot. You should be able to step away from your business for a couple of days. You also need to Step out of your current environment. Whether you work from home or out of an office or whatever it is, you need to spend a few days away. And this can be something as simple as just getting an Airbnb in a location that's maybe in nature. What we're trying to do here is you want to start looking inward and not really worrying about the outward, not worrying too much about what's going on in the news or on Twitter. We want to settle things down a little bit. We want to minimize the noise so that our thoughts can manifest, so that we can have time to think clearly, so we have time to really see things in perspective. When you're in the weeds, when you're in. You know, on the battlefield, it's really hard to focus on how to get out of the war. You know, like, you got bombs dropping on you. You got bullets flying. You need to retreat a little bit. You need to go away for a little bit, away from all the violence and all the noise. I know this is a weird analogy, but just go with it. I know this is a weird analogy, but just hang with me here so that you can come up with a strategy, so you can come up with a practical way for you to resolve the issue. I would call this more of a sabbatical than a vacation. This is a chance for you to really work on yourself a little bit. This could be maybe an exercise retreat or some sort of meditation retreat. It could be even just you going out again, getting an Airbnb somewhere in nature, out in the woods, or maybe by the beach and just having fresh food and having some time to just read and have a chance to just be with yourself without having to have any distractions, any noise of the business. This is a chance for you to step away from things. If there are other obligations you have, I really recommend you try to do it by yourself. If you have kids, try to see if you can get the parents to take a look at them or take care of them for a bit, or a family friend or something. I would recommend maybe going. You don't have to be alone. You can go with your significant other or maybe a friend, where you can actually have some discussions and just have some moments of peace. And the point here is that you don't have any other obligations to do anything other than focus on yourself. This is the first step. You just need some time away. Because sometimes we just need that. We need a little perspective. We need a timeout. We need some things to kind of pass a little bit, and we come back Maybe feeling, you know what, it's not that bad. This is just a bump in the road. I just need to change a few things. I need to change a few habits that I'm making. I'm maybe doing too much. Maybe I need to hire for this position. I can fix this situation. This often is all you need to do because it just, you know, that time away makes you think of solutions, allows you to think, hey, what I really don't like about this situation, what I really don't like about my business right now, why don't I just hire out for that? Why don't I change my involvement in that? I know people that have made the decision instead of selling their business or giving it up, just hiring a different CEO, saying I'm hiring somebody to replace myself. I still own the business, I still make the money, but I don't want to be involved that much. I'm just going to be, you know, the chairman of the board. I'll be part of the decision making. I'll be an owner, a founder. But I don't want to deal with the day to day anymore. Maybe that's an extreme step or maybe something you can't afford right now. But you get the point. There are some things you can change. Nothing is not solvable. You can always solve. Especially if you're an established business that's growing, that's maybe generating revenue. These are all positives. You don't want to kind of just throw the baby out with the bathwater. But what can happen is after your sabbatical, you come to the conclusion that it's time to move on. You maybe had your full of this opportunity, of this challenge. Maybe you're not fulfilled anymore. Maybe you've changed over the years and you're just not feeling it. And that's not necessarily a bad thing. Now, you know, now you have a plan of action. Now you just need to plan how you're going to transition, how you're going to pivot. Are you going to sell the business to somebody? Are you again going to step away and have somebody run it the day to day? And you just be the owner and you work on some other things with your time. These are all great options. But the one thing I do recommend is if you are going to change, if you are going to leave and stop doing what you are doing, you better have something else you're going to be doing. There's nothing to prepare you for the challenge of leaving something and having nothing to do. A lot of people don't talk about this. But if you ever sell your business, you move out of your business, change management and you work on something else, there'll be a gap, there'll be something that you miss. The sense of purpose, a lot of your significance and who you are as a person is intertwined with your relationship with the business. So it's always good to make sure you grab onto another vine before you let go of the other vine. So you have some sort of plan. Even if it's just like, I'm going to write a book, I'm going to start a new blog, I'm going to. And it doesn't have to be like I'm going to throw all my money, all my time and my energy, but you should have some sort of starting point, some sort of thing I'm going to do, I'm going to get into this new thing, I'm going to take some classes, I'm going to learn how to do some woodworking because I'm going to be starting a furniture business, whatever, but you want to land safely onto something. My other piece of advice in this situation is again, do not rush the decisions. You're going to go away, you're going to have some thoughts, you're going to think about it, you have some clarity, you're going to come back, you're going to have some idea of where you want to move forward. You don't have to rush and implement things. The day you come back, you can have a three month plan, six month plan, a year plan, because you need to consider everybody that's involved with this decision. People will be affected by this decision. So you want to make sure that whatever changes you make is communicated properly, is done properly, is well thought out, and don't affect the overall success of the business. Even if you're selling it to somebody else, you want to make sure you're handing it over at its best state, you want to leave it in a great state and you want to also remember your time there with a sense of pride, with a sense of, yes, I did a great job.

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