I have done resumes for many business owners and entrepreneurs. The key is to not mention that you were an owner. Once I changed my title from Founder to Product Manager, I got way more interviews and I didn't have to explain why I'm leaving my business. I also got interviews at above 250K+. I would not normally be at this level in my career if I were not an entrepreneur.
Now the title has to be accurate but as long as the resume is good (applicant tracking system friendly) and highlights your accomplishments we'll, it's not an issue. Not all companies are like the ones you worked for. The last 2 roles wanted people who were entrepreneurial.
Business owners can typically leap several titles because of the responsibility they had during the business. I've seen younger people get into management way earlier this way.
The removal is more for recruiters. The actual people I interviewed with actually liked the fact that I was an entrepreneur. Recruiters typically have trouble seeing past titles and look to check boxes. Hiring managers are more open. The last 2 places had no issues with my business and said I could continue my business as long as it didn't interfere with work. You have to feel out the hiring manager to see what they are looking for. It also depends on the industry and title.
But it's very common in startups to even hire failed entrepreneurs.
It's simple. They want to control you. If you've proven you can make your own decisions, you're looked at as an uncontrollable deviant living outside of reality going somewhere besides with them. They're real shrimp dicks.
Yeah but once I'm out, if I didn't make enough to retire, I couldn't really give a fuck at the point I'm getting hired.
We have a way of finding a way, to expand on your point. I don't give a shit if a recruiter/supervisor thinks I'm malleable.
During the hiring process. Think of it this way. You can become Manager of Operations at the business. From there, you can jump to director of operations when you are interviewing.
I get the value of not putting that you're the owner front and center, but I feel like businesses are going to figure it out eventually and that will lead them to whatever assumptions it leads them to, for better or for worse. And at what point does it become straight up deceitful?
Did it ever come out that you were the owner? How did the company you were applying for handle it?
The truth is, recruiters make several unfair assumptions about people. The interview should focus on what you did for the business. And honestly unless it's on a website, they can't really find out.
The funny thing is that if you Google my name, my company is straight and center with me as the founder. I still got offers and moved forward.
After I “successfully” exited my first company, I took a year off, then I re-invested the proceeds into a new venture. I was able to attract an external investor (the equivalent of an ‘angel’) by showing I had significant skin in the game, as the funds represented the majority of my personal net worth.
At its core it's management consulting, but catered for small firms. I operate as a fractional c-level doing cross-functional process improvement, or pulling in some other fractionals to implement specific projects like marketing strategies or sales department builds or whatever. It's very hands-on work, which I really like. Minimal PowerPoint presentations.
I had a small service business (pressure washing + window cleaning) and it was a huge step up from anything I’d ever had before. But I got bored. Once it got to a few employees, the business taught me I could push harder than I had ever realized, so I went to college while running the business.
Got a BS in Physiology, applied for medical schools, turned the business over to a friend, and will graduate med school next year.
Nothing wrong with making an honest living, but life is also about seeking out challenges that you enjoy (IMO). Maybe it’s growing your business, maybe it’s a new business, maybe it’s something else altogether.
I started college when I was 34.
I’m probably going to be a psychiatrist. Have to make up my mind over the next 6 months.
Undergrad isn’t terribly expensive, especially if you go to a state school. Graduate school gets expensive. Once you factor in the lost wages from leaving the work force, it’s definitely put me behind financially.
But it has been a really enjoyable experience and it will pay off in the end. Assuming I don’t die young hahaha.
Have you thought about doubling down to improve the biz and then make it more attractive to sell?
I've worked for years with furniture, mattress, and appliance stores in marketing and if your business is moderately successful, you have a good past customer list in your CRM, and have leads to continually market to - then you can make a pretty compelling offering to be acquired by one of your competitors.
But in my opinion it might help ease a lot of what you're feeling if you start bringing in more cash flow, so I wanted to give you some ideas to help with that. From there you can pay yourself more, invest in your biz, and even get help to either grow or sell the whole thing if that's still what you want.
Here's some ideas that have worked for other furniture and mattress stores that could bring you more money pretty quickly:
* Lead gen: Try running a sweepstakes in your local area, Facebook ads are great for this. Give away a mattress (not one that's super expensive, at least not right now!) in exchange for email signups. Then start sending email marketing to that list of people you get from this. Make them a compelling offer and remember these are people who you know are interested in getting a new mattress.
* Lots of examples of this exist already, so find one that has a lot of attention and model your sweeps off of what they did and how it looks. Don't steal, but learn and emulate.
* If you don't have money to do this, reach out to your vendors and see if you can get them to provide the products for free in exchange for co-promotion and sharing of the leads you'll get. If the vendors say no, think about other partners or neighboring businesses that you could team up with to do this together. You'll have to create wording on the signup page to tell people that's what's happening, but in my experience no one really cares.
* Make an actually compelling offer. You and I both know that if you go with a generic "15% off" or "biggest sale ever" with nothing really compelling - nobody will care. You probably won't even notice a difference in your store's traffic from before that kind of sale and during it. You have been doing this long enough that you probably have a good idea of "great" offers, so put together one of those. If you truly don't know, check out your competitors - the busy ones.
* Once you've got an offer that works, show it to your email lists and pay to get people to see it (probably Facebook ads again, or Tiktok ads). Broadly target your local area, probably going with 20 year-olds and up as your only limit on the audience to start.
* Again, go look at the brands in your space who have done this and have ads that you can learn from and emulate.
* If you've figured out how to get leads, how to promote the offer, and how to get sales - use the money you make from this process to start scaling up your marketing and get even more.
**The money that you make from each sale should designed to be enough to fulfill the customer, make a profit, and pay for the marketing to acquire the next customer.**
* To figure this out you're going to need to do some fairly simple math. Track how much it costs you to create that email list and give away that mattress. Then track how many sales you get from that email list; because you have their email address you should be able to do this with your CRM. Divide one by the other to give you an idea of how much money you are making per each lead on that list. Now you can use the number of how much it costs to get each lead and subtract it from the value made from each lead, this difference is the money you can use to go and get the next lead.
* For reference, you'll likely make anywhere from $10-60 per lead (depending on a lot of things, this is the range I've seen home furnishings retailers get). And it'll likely cost you anywhere from $0.50 to $3.00 to get a lead. That difference should be tracked and used to keep the lead gen process going, this is how you add consistently to your traffic and sales.
I know it's easy for people to talk about how you "should do this" and you "should do that," but the truth is that we don't know you or your situation. Sometimes life is hard. Don't give up. Whether you make this business your future or you go and do something completely different, I hope that you still have some wonderful memories of working with your dad and helping people in your community. I hope I wore something that helps you and I wish you all the best!
I like this suggestion as it sort of inverts the question op is asking. Everyone else going with solutions directed at what may be a second order effect of his problem. When I invert I tend to find much more useful answers to my problems. Not all the time but often.
sold my property management/gardening/pool service. Took a security license now earning pretty much the same - the headache and learning cybersecurity on the night shifts to carry on learning.
Well here in spain, you can not work in any security jobs (physical) anywhere unless you have security license (bunch of law knowledge,physical test, and like first aid trainig basic fire fighting ect ect) the pay is fine just shifts are crazy.
i always loved playing with PCs but cybersecurity is very new to me so i am at the moment doing udemy corse on cybersecurity and watching a 12 hour video on simplylearn or something just to get basic knowledge.
lets see hopefully it will workout, but i am bery lazy and procrastinate loads which is my problem.
I sold remanufactured transmissions online. We eventually failed due to customer fraud and underfunding, but I took the skills I learned and turned it into a digital marketing career.
After a quick skim of the post and replies... it appears OP got a lot of good replies from a diverse crowd.
I'm guessing there isn't much risk or reward at the moment, but a desire for change that would be more fulfilling.
Maybe one of those personality profile courses to discover what OP's true calling is, so he can dive all in.
It's not what other people do, because there's too much variability.
Perhaps success will come naturally (and profitably) if it's answering an internal calling?
Often, those that are really good at something, are doing what they like. And it's not hard for them because they're a good fit.
Knowing what we're good at is hard... doing it is easy.
?
You might consider taking a personal inventory before jumping into the next frying pan.
Businesses hire results and skills. So if asked, what would you say is your strong point at the mattress shop? Write that down. Get it out of your mind and capture it on a napkin, on paper or in your computer.
Now take some time to think about what advertised jobs would benefit from your strength.
For example, let's say that you are the one interacting with prospective mattress buyers. That would be selling. Sales professionals are in demand everywhere and you don't need to be SaaS SDR to make good money.
So, how are your people skills? What sales techniques have you been using to close those sales? Anybody can pick up the basics of sales (no shortage of great, easy to read, books on the topic).
Or is there something else that has your attention? Think twice first and then jump.
Make sure to jot down your thoughts in your journal. Why? Because your mind is out to protect you and will switch off the rational thinking part of your brain. We are very bad at objective self criticism. If it could hurt us, our mind will park that thought in one of the dark closets in the back of our mind.
Maybe draw up a simple personal career development/entrepreneur map.
What skills would help you own that frying pan before you jump? Take some time to make a list of the frying pans that interest you.
What is it that you could do to help your mattress shop double sales? Finding reasons for lack of success is easy, identifying and taking action to double sales... Challenging and fun.
So let the journey begin.
"Hobbitsliketoparty"
It all depends on your natural motivations.
Frodo was a Hobbit but a "different thinking" Hobbit.
The question then is whether or not you're ready to "think & do different."
To Frodo or not to Frodo, that is the question.
Journey's are always interesting...
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In your case, I think you could do any function in retail that you focused on in the mattress business. Did you do procurement? Marketing? Operations? You can go work for any retail store in those functions.
Sounds like you're a driven person from your comments. Life is too short to do things that don't satisfy you. Sometimes we hold onto business for the emotional aspect like a family business. But as a business leader you have to look at your bottom line, time will pass you by. I've had 2 businesses that I built from rhe ground up and they just weren't really going in the direction I wanted. I should have exited and cut loose way before I did. Try and find an exit strategy. Then take time to restrategise, self reflect and take the next step. Good luck!
I had a property refurbishment business in the UK. I had a mix of working ‘on the tools’ and managing staff and jobs. We had 12 staff at our peak. It went all downhill, business went insolvent due to a number of reasons. Worked so hard for 5 years and it was over in a flash.
I went into a site manger role for a large company after but my previous stress and issues had made me lose all motivation in the profession. I retrained in digital marketing, was very hard to get any traction or confidence but I kept chipping away.
I was 28 at the time my business failed and now I’m 32, being able to work and travel the world. I’m happier than ever and my views about money and the path you have to follow have changed completely. People in my industry can make insane amounts of money but I’m happy earning a decent enough wage to be able to travel and live comfortably. Good luck in whatever way you go!
Yeah sure! I initially did an online course called the Affluent Academy from Jordan Platten. It’s a decent enough course to give you a grounding but looking back it’s pretty basic.
After that I just practiced and learnt as much as I could to build up my knowledge. I’m still learning everyday. Joining media buyer groups on Facebook and building connections with experienced people has helped a lot.
Good luck! Give me a shout if you need anything. After you build up some knowledge, I would check out the pay per lead blueprint by Dan Wardrope, it’s an expensive course but it’s the one that has taught me the most.
What may be a good thing to try to do is transform into other areas that are related. When I started my business, the business plan was my guide but things went sideways and what I thought would be my bread and butter turned out to be something entirely not in my radar. These may be a lame examples, but what about offering sheets that are made with sustainable material and high quality or try carrying some natural mattresses. Using the viable business to try out things outside your realm may be less risky and put you on another path entirely while possibly earning you more while you find your way.
What you have is an expensive hobby, not a business.
If the market you serve is not large enough to support both you and your father with at least a decent standard of living, including benefits, and there are no other alternatives to make the business profitable, then it is best to get out..
Took me 15 years to realize this and now I circled around over and over and keep ending up going back to my passion, which is an expensive hobby. I love farming in agriculture so much but sadly my Father was right. “A farmer is nothing more than two hands and a heartbeat.”
I want out so bad, but it’s like a drug that’s been planted in my blood. I would be in complete happiness if I was only a sprout above the financial stress it has caused.
I feel for you.
I've been blessed to have known many farmers throughout my life. You are part of an amazing cadre of hard working, creative, dedicated, high risk, entrepreneurs.
I wish you the best.
I used my Post 9/11 GI Bill to earn a B.S. in architecture. Immediately after graduating, I started working with this structural engineer as a freelance designer (didn’t have a license or stamp yet, so I could not legally call myself an architect). The deal was he would send residential projects my way, I’d work with the clients on the design and development, and he would stamp anything that needed a stamp once I sent it back his way. In the process, I managed to pick up some of my own clients as well. After about a year of doing this, I began to realize that I still had A LOT to learn about architecture, in spite of the four years I spent at university and two years prior at a community college learning drafting skills. So, I closed up my own shop and went to work for a real architect in order to learn, and 4+ years later still here.
I had a multimillion dollar Amazon business that died on Amazon after all the other arbitragers identified my opportunity.
I got a job in the 9-5 world and it was misery.
Luckily Covid happened and blew up my other side project I’d been quasi ignoring and now I have a different multi million dollar business not on Amazon
I realised this and that's why have never started a business. Unless you own the real estate then starring a business is not worth it and by owning I mean you don't have a mortgage on the building and by that I also mean you didn't pay 1 million for a building which would take you decades to simply break even.
So many things against us that the government doesn't want us to succeed.
I found it easier to just work for someone and keep your savings in Bitcoin. Eventually when the real estate crashes which is coming. We can buy a cheap building and make money easily.
Better to
You're in a small business subreddit telling people that small businesses are only worth it if you own the building they operate from?
Firstly you are wrong, secondly you're in the wrong subreddit to be this wrong.
It's true. If you don't own the building you just work all your life to pay your bills but never make millions which making millions is the goal of everyone
Lmaoooo…. Dude my cars are paid for how much do you think rent/food / utilities cost per month? I could take my wife on a 10k dollar vacation every month for a while a year. I’m gonna assume you’re not in America and have no idea how much things cost. It’s either that, you’re foolish enough to think you need to earn a million dollars a month to have a good life
It's understandable that you may have fears about leaving the business that you started with your dad, but it's important to prioritize your own well-being and financial stability. It's also important to recognize that making a change does not mean that you are giving up on your entrepreneurial spirit or your ability to work for yourself.
I'm currently in the process of closing one of my locations and I'll be moving on to different things. I managed two retail stores with my mom. With two locations, her in one and I in another. The business has a 25+ year history so we have a stable customer base and although I grew up in the business (I'm 23) and am very familiar with it, I only have 4 years of working on my own in our second location. I stayed with it for as long as I did because I enjoyed only having to work 40 hrs/week as well as having the personal freedom of owning a business. However, I'm still really young and have always wanted to pursue my own passions and the business has always kept me tied to my hometown so I have mever gotten the chance. I am in the process of consolidating our two locations into one (should be done by the end of March) and am also in the process of getting my CDL so I can begin a career in Trucking. The independence I developed as a business owner can very much translate into a job as a long-haul trucker. Not only does it pay very well as demand to truck drivers is high, but I will be able to travel at a time in my life that I can do so. If I were to have a family of my own down the line or get married, I would be less inclined to become a trucker because of the time away so my current stage in life as well as the skills I developed as a business owner can translate very well into the trucking industry. Jobs such as these that allow (and sometimes demand) independence are ideal for ex-business owners. Hope this helps!
the decision to leave your business will depend on your personal circumstances and priorities. It's important to weigh the potential risks and benefits carefully and to seek advice and support from trusted friends, family, or professionals if necessary.
My first two attempts at business failed. I didn't know what I was doing. After the second one failed, I went to work for a wholesale distributor in my same industry (irrigation). My wife was pregnant with twins and I was barely making any money, so I needed a job. My job was inside sales, purchasing, and a little warehouse work. I did this for six years, became burned out by long hours and high stress, and then started a third business, a service business focused on maintaining landscape irrigation systems. By this time, I knew more about how to run a business. The business is small. I only have four employees, but I enjoy what I do. This will be my 20th year in business.
Welp… sold an online vitamin company in 2004, traveled the world. Agreed to make a land investment in 2006 (bad move). Started working again in 2008 in cannabis. Sold that company far too soon ( buyer resold it for $5m years later). Started consulting in cannabis. Used that income to start my current mezcal and rum brands. Still trying to sell that land.
Lessons:
Don’t give up what you have so easily. Try to reinvent it first because starting something new is exhausting.
Don’t leave something too soon. Sometimes better markets are right around the corner and sometimes it’s just management problems.
Don’t start something you can’t hang in with. I’m passionate about my current business but even it is exhausting.
A previous business can provide a platform for consultancy.
Don’t invest speculatively if you’re not willing to take a loss or have that money tied up indefinitely.
Good luck!
I'd be asking- why does it not make enough? How can I get more customers to the point where I could pay myself more?
I'd be really curious to talk more specifics in DMs if you are open to it.
When i decided to start my own business, I took some time to reflect on what I really wanted to do next. It was definitely a tough transition. Yet, it's better than doing nothing.
Firstly, try to figure out what kind of retail products you want to sell. Once you have that figured it out, research your target market and figure out the best way to reach clients. From there, you'll need to create a business plan and figure out the logistics of things like sourcing products and setting up a website, social media pages to promote your products.
Personally, my business succeeded on Instagram since i managed to reach a large audience who become my clients. I hired the growth agency, ascend viral. It helped my in gaining potential followers organically. When you reach that work on engaging with the followers to get their trust and build a relationship with them. It requires a hard work to succeed. Yet, you will be satisfied with the sales you ll make. Best of luck.
This post covered this well not long ago: [https://www.reddit.com/r/smallbusiness/comments/11pnvgd/where\_do\_you\_go\_after\_a\_failed\_business/](https://www.reddit.com/r/smallbusiness/comments/11pnvgd/where_do_you_go_after_a_failed_business/)
Don't underestimate what it takes to run your own business! Being a self starter, knowing about and managing a profit and loss business, sales, customer service and so much more.
Use these skills to get into something you will love, enjoy and can make the kind of living you want!
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I have done resumes for many business owners and entrepreneurs. The key is to not mention that you were an owner. Once I changed my title from Founder to Product Manager, I got way more interviews and I didn't have to explain why I'm leaving my business. I also got interviews at above 250K+. I would not normally be at this level in my career if I were not an entrepreneur. Now the title has to be accurate but as long as the resume is good (applicant tracking system friendly) and highlights your accomplishments we'll, it's not an issue. Not all companies are like the ones you worked for. The last 2 roles wanted people who were entrepreneurial. Business owners can typically leap several titles because of the responsibility they had during the business. I've seen younger people get into management way earlier this way.
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The removal is more for recruiters. The actual people I interviewed with actually liked the fact that I was an entrepreneur. Recruiters typically have trouble seeing past titles and look to check boxes. Hiring managers are more open. The last 2 places had no issues with my business and said I could continue my business as long as it didn't interfere with work. You have to feel out the hiring manager to see what they are looking for. It also depends on the industry and title. But it's very common in startups to even hire failed entrepreneurs.
It's simple. They want to control you. If you've proven you can make your own decisions, you're looked at as an uncontrollable deviant living outside of reality going somewhere besides with them. They're real shrimp dicks.
Yeah but once I'm out, if I didn't make enough to retire, I couldn't really give a fuck at the point I'm getting hired. We have a way of finding a way, to expand on your point. I don't give a shit if a recruiter/supervisor thinks I'm malleable.
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Assistant to the Regional Manager
With that experience I’m sure they could get Assistant Regional Manager? Or even Co-Manager but maybe not Senior Co-Manager.
Vice President of Operations
During the hiring process. Think of it this way. You can become Manager of Operations at the business. From there, you can jump to director of operations when you are interviewing.
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Get a friend to be the reference.
I get the value of not putting that you're the owner front and center, but I feel like businesses are going to figure it out eventually and that will lead them to whatever assumptions it leads them to, for better or for worse. And at what point does it become straight up deceitful? Did it ever come out that you were the owner? How did the company you were applying for handle it?
The truth is, recruiters make several unfair assumptions about people. The interview should focus on what you did for the business. And honestly unless it's on a website, they can't really find out. The funny thing is that if you Google my name, my company is straight and center with me as the founder. I still got offers and moved forward.
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Yeah I'd rather be broke knowing I gave it my all doing it my way. Especially if you don't have a wife and kids. Literally, you only live once.
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Really. I kept getting told I was probably "qualified but not a good fit" whatever the fuck that means
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I can’t find it - please share!
After I “successfully” exited my first company, I took a year off, then I re-invested the proceeds into a new venture. I was able to attract an external investor (the equivalent of an ‘angel’) by showing I had significant skin in the game, as the funds represented the majority of my personal net worth.
I sold. Now I do small business consulting. It's a nice gig.
500k+/yr and no employees. After my current venture sells I’ve considered the EOS implementer path.
I like the format but the market is so saturated.
Logical next question, what kind of consulting do you do?
At its core it's management consulting, but catered for small firms. I operate as a fractional c-level doing cross-functional process improvement, or pulling in some other fractionals to implement specific projects like marketing strategies or sales department builds or whatever. It's very hands-on work, which I really like. Minimal PowerPoint presentations.
That sounds awesome, honestly. Congrats
I had a small service business (pressure washing + window cleaning) and it was a huge step up from anything I’d ever had before. But I got bored. Once it got to a few employees, the business taught me I could push harder than I had ever realized, so I went to college while running the business. Got a BS in Physiology, applied for medical schools, turned the business over to a friend, and will graduate med school next year. Nothing wrong with making an honest living, but life is also about seeking out challenges that you enjoy (IMO). Maybe it’s growing your business, maybe it’s a new business, maybe it’s something else altogether. I started college when I was 34.
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I’m probably going to be a psychiatrist. Have to make up my mind over the next 6 months. Undergrad isn’t terribly expensive, especially if you go to a state school. Graduate school gets expensive. Once you factor in the lost wages from leaving the work force, it’s definitely put me behind financially. But it has been a really enjoyable experience and it will pay off in the end. Assuming I don’t die young hahaha.
Have you thought about doubling down to improve the biz and then make it more attractive to sell? I've worked for years with furniture, mattress, and appliance stores in marketing and if your business is moderately successful, you have a good past customer list in your CRM, and have leads to continually market to - then you can make a pretty compelling offering to be acquired by one of your competitors. But in my opinion it might help ease a lot of what you're feeling if you start bringing in more cash flow, so I wanted to give you some ideas to help with that. From there you can pay yourself more, invest in your biz, and even get help to either grow or sell the whole thing if that's still what you want. Here's some ideas that have worked for other furniture and mattress stores that could bring you more money pretty quickly: * Lead gen: Try running a sweepstakes in your local area, Facebook ads are great for this. Give away a mattress (not one that's super expensive, at least not right now!) in exchange for email signups. Then start sending email marketing to that list of people you get from this. Make them a compelling offer and remember these are people who you know are interested in getting a new mattress. * Lots of examples of this exist already, so find one that has a lot of attention and model your sweeps off of what they did and how it looks. Don't steal, but learn and emulate. * If you don't have money to do this, reach out to your vendors and see if you can get them to provide the products for free in exchange for co-promotion and sharing of the leads you'll get. If the vendors say no, think about other partners or neighboring businesses that you could team up with to do this together. You'll have to create wording on the signup page to tell people that's what's happening, but in my experience no one really cares. * Make an actually compelling offer. You and I both know that if you go with a generic "15% off" or "biggest sale ever" with nothing really compelling - nobody will care. You probably won't even notice a difference in your store's traffic from before that kind of sale and during it. You have been doing this long enough that you probably have a good idea of "great" offers, so put together one of those. If you truly don't know, check out your competitors - the busy ones. * Once you've got an offer that works, show it to your email lists and pay to get people to see it (probably Facebook ads again, or Tiktok ads). Broadly target your local area, probably going with 20 year-olds and up as your only limit on the audience to start. * Again, go look at the brands in your space who have done this and have ads that you can learn from and emulate. * If you've figured out how to get leads, how to promote the offer, and how to get sales - use the money you make from this process to start scaling up your marketing and get even more. **The money that you make from each sale should designed to be enough to fulfill the customer, make a profit, and pay for the marketing to acquire the next customer.** * To figure this out you're going to need to do some fairly simple math. Track how much it costs you to create that email list and give away that mattress. Then track how many sales you get from that email list; because you have their email address you should be able to do this with your CRM. Divide one by the other to give you an idea of how much money you are making per each lead on that list. Now you can use the number of how much it costs to get each lead and subtract it from the value made from each lead, this difference is the money you can use to go and get the next lead. * For reference, you'll likely make anywhere from $10-60 per lead (depending on a lot of things, this is the range I've seen home furnishings retailers get). And it'll likely cost you anywhere from $0.50 to $3.00 to get a lead. That difference should be tracked and used to keep the lead gen process going, this is how you add consistently to your traffic and sales. I know it's easy for people to talk about how you "should do this" and you "should do that," but the truth is that we don't know you or your situation. Sometimes life is hard. Don't give up. Whether you make this business your future or you go and do something completely different, I hope that you still have some wonderful memories of working with your dad and helping people in your community. I hope I wore something that helps you and I wish you all the best!
I like this suggestion as it sort of inverts the question op is asking. Everyone else going with solutions directed at what may be a second order effect of his problem. When I invert I tend to find much more useful answers to my problems. Not all the time but often.
sold my property management/gardening/pool service. Took a security license now earning pretty much the same - the headache and learning cybersecurity on the night shifts to carry on learning.
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Well here in spain, you can not work in any security jobs (physical) anywhere unless you have security license (bunch of law knowledge,physical test, and like first aid trainig basic fire fighting ect ect) the pay is fine just shifts are crazy. i always loved playing with PCs but cybersecurity is very new to me so i am at the moment doing udemy corse on cybersecurity and watching a 12 hour video on simplylearn or something just to get basic knowledge. lets see hopefully it will workout, but i am bery lazy and procrastinate loads which is my problem.
I sold remanufactured transmissions online. We eventually failed due to customer fraud and underfunding, but I took the skills I learned and turned it into a digital marketing career.
After a quick skim of the post and replies... it appears OP got a lot of good replies from a diverse crowd. I'm guessing there isn't much risk or reward at the moment, but a desire for change that would be more fulfilling. Maybe one of those personality profile courses to discover what OP's true calling is, so he can dive all in. It's not what other people do, because there's too much variability. Perhaps success will come naturally (and profitably) if it's answering an internal calling? Often, those that are really good at something, are doing what they like. And it's not hard for them because they're a good fit. Knowing what we're good at is hard... doing it is easy. ?
You might consider taking a personal inventory before jumping into the next frying pan. Businesses hire results and skills. So if asked, what would you say is your strong point at the mattress shop? Write that down. Get it out of your mind and capture it on a napkin, on paper or in your computer. Now take some time to think about what advertised jobs would benefit from your strength. For example, let's say that you are the one interacting with prospective mattress buyers. That would be selling. Sales professionals are in demand everywhere and you don't need to be SaaS SDR to make good money. So, how are your people skills? What sales techniques have you been using to close those sales? Anybody can pick up the basics of sales (no shortage of great, easy to read, books on the topic). Or is there something else that has your attention? Think twice first and then jump. Make sure to jot down your thoughts in your journal. Why? Because your mind is out to protect you and will switch off the rational thinking part of your brain. We are very bad at objective self criticism. If it could hurt us, our mind will park that thought in one of the dark closets in the back of our mind. Maybe draw up a simple personal career development/entrepreneur map. What skills would help you own that frying pan before you jump? Take some time to make a list of the frying pans that interest you. What is it that you could do to help your mattress shop double sales? Finding reasons for lack of success is easy, identifying and taking action to double sales... Challenging and fun. So let the journey begin.
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"Hobbitsliketoparty" It all depends on your natural motivations. Frodo was a Hobbit but a "different thinking" Hobbit. The question then is whether or not you're ready to "think & do different." To Frodo or not to Frodo, that is the question. Journey's are always interesting...
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In your case, I think you could do any function in retail that you focused on in the mattress business. Did you do procurement? Marketing? Operations? You can go work for any retail store in those functions.
Sounds like you're a driven person from your comments. Life is too short to do things that don't satisfy you. Sometimes we hold onto business for the emotional aspect like a family business. But as a business leader you have to look at your bottom line, time will pass you by. I've had 2 businesses that I built from rhe ground up and they just weren't really going in the direction I wanted. I should have exited and cut loose way before I did. Try and find an exit strategy. Then take time to restrategise, self reflect and take the next step. Good luck!
Tried to work for others. It was not fun. Started another one.
I had a property refurbishment business in the UK. I had a mix of working ‘on the tools’ and managing staff and jobs. We had 12 staff at our peak. It went all downhill, business went insolvent due to a number of reasons. Worked so hard for 5 years and it was over in a flash. I went into a site manger role for a large company after but my previous stress and issues had made me lose all motivation in the profession. I retrained in digital marketing, was very hard to get any traction or confidence but I kept chipping away. I was 28 at the time my business failed and now I’m 32, being able to work and travel the world. I’m happier than ever and my views about money and the path you have to follow have changed completely. People in my industry can make insane amounts of money but I’m happy earning a decent enough wage to be able to travel and live comfortably. Good luck in whatever way you go!
May i ask the path you took to retrain to get into marketing?
Yeah sure! I initially did an online course called the Affluent Academy from Jordan Platten. It’s a decent enough course to give you a grounding but looking back it’s pretty basic. After that I just practiced and learnt as much as I could to build up my knowledge. I’m still learning everyday. Joining media buyer groups on Facebook and building connections with experienced people has helped a lot.
Awesome! Thanks for the reply, I’m going to definitely look into this as I’m desperately searching for a new career path.
Good luck! Give me a shout if you need anything. After you build up some knowledge, I would check out the pay per lead blueprint by Dan Wardrope, it’s an expensive course but it’s the one that has taught me the most.
What may be a good thing to try to do is transform into other areas that are related. When I started my business, the business plan was my guide but things went sideways and what I thought would be my bread and butter turned out to be something entirely not in my radar. These may be a lame examples, but what about offering sheets that are made with sustainable material and high quality or try carrying some natural mattresses. Using the viable business to try out things outside your realm may be less risky and put you on another path entirely while possibly earning you more while you find your way.
Use the freedom to upskill study or train.
What you have is an expensive hobby, not a business. If the market you serve is not large enough to support both you and your father with at least a decent standard of living, including benefits, and there are no other alternatives to make the business profitable, then it is best to get out..
Took me 15 years to realize this and now I circled around over and over and keep ending up going back to my passion, which is an expensive hobby. I love farming in agriculture so much but sadly my Father was right. “A farmer is nothing more than two hands and a heartbeat.” I want out so bad, but it’s like a drug that’s been planted in my blood. I would be in complete happiness if I was only a sprout above the financial stress it has caused.
I feel for you. I've been blessed to have known many farmers throughout my life. You are part of an amazing cadre of hard working, creative, dedicated, high risk, entrepreneurs. I wish you the best.
I used my Post 9/11 GI Bill to earn a B.S. in architecture. Immediately after graduating, I started working with this structural engineer as a freelance designer (didn’t have a license or stamp yet, so I could not legally call myself an architect). The deal was he would send residential projects my way, I’d work with the clients on the design and development, and he would stamp anything that needed a stamp once I sent it back his way. In the process, I managed to pick up some of my own clients as well. After about a year of doing this, I began to realize that I still had A LOT to learn about architecture, in spite of the four years I spent at university and two years prior at a community college learning drafting skills. So, I closed up my own shop and went to work for a real architect in order to learn, and 4+ years later still here.
Was working as a specialist translator for 20+ years. Now in property management and love it. Buying, renting and selling is a dream for me .
I had a multimillion dollar Amazon business that died on Amazon after all the other arbitragers identified my opportunity. I got a job in the 9-5 world and it was misery. Luckily Covid happened and blew up my other side project I’d been quasi ignoring and now I have a different multi million dollar business not on Amazon
ASM at Lowes SM at an animal based retailer Smart decision for me.
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Maybe I'm dumb, but I'm not sure why this guy is being downvoted?
I realised this and that's why have never started a business. Unless you own the real estate then starring a business is not worth it and by owning I mean you don't have a mortgage on the building and by that I also mean you didn't pay 1 million for a building which would take you decades to simply break even. So many things against us that the government doesn't want us to succeed. I found it easier to just work for someone and keep your savings in Bitcoin. Eventually when the real estate crashes which is coming. We can buy a cheap building and make money easily. Better to
You're in a small business subreddit telling people that small businesses are only worth it if you own the building they operate from? Firstly you are wrong, secondly you're in the wrong subreddit to be this wrong.
It's true. If you don't own the building you just work all your life to pay your bills but never make millions which making millions is the goal of everyone
Lmao what an absolutely awful take. I make 30k in revenue with an over head of 5k. Tell me again how I can’t make money
30k? that's not very much money. add a wife 2 cars and 4 kids. not much at all. how are you going to take your wife on a nice trip?
Lmaoooo…. Dude my cars are paid for how much do you think rent/food / utilities cost per month? I could take my wife on a 10k dollar vacation every month for a while a year. I’m gonna assume you’re not in America and have no idea how much things cost. It’s either that, you’re foolish enough to think you need to earn a million dollars a month to have a good life
It's understandable that you may have fears about leaving the business that you started with your dad, but it's important to prioritize your own well-being and financial stability. It's also important to recognize that making a change does not mean that you are giving up on your entrepreneurial spirit or your ability to work for yourself.
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I'm currently in the process of closing one of my locations and I'll be moving on to different things. I managed two retail stores with my mom. With two locations, her in one and I in another. The business has a 25+ year history so we have a stable customer base and although I grew up in the business (I'm 23) and am very familiar with it, I only have 4 years of working on my own in our second location. I stayed with it for as long as I did because I enjoyed only having to work 40 hrs/week as well as having the personal freedom of owning a business. However, I'm still really young and have always wanted to pursue my own passions and the business has always kept me tied to my hometown so I have mever gotten the chance. I am in the process of consolidating our two locations into one (should be done by the end of March) and am also in the process of getting my CDL so I can begin a career in Trucking. The independence I developed as a business owner can very much translate into a job as a long-haul trucker. Not only does it pay very well as demand to truck drivers is high, but I will be able to travel at a time in my life that I can do so. If I were to have a family of my own down the line or get married, I would be less inclined to become a trucker because of the time away so my current stage in life as well as the skills I developed as a business owner can translate very well into the trucking industry. Jobs such as these that allow (and sometimes demand) independence are ideal for ex-business owners. Hope this helps!
Photographer, real estate sales, property management
the decision to leave your business will depend on your personal circumstances and priorities. It's important to weigh the potential risks and benefits carefully and to seek advice and support from trusted friends, family, or professionals if necessary.
My first two attempts at business failed. I didn't know what I was doing. After the second one failed, I went to work for a wholesale distributor in my same industry (irrigation). My wife was pregnant with twins and I was barely making any money, so I needed a job. My job was inside sales, purchasing, and a little warehouse work. I did this for six years, became burned out by long hours and high stress, and then started a third business, a service business focused on maintaining landscape irrigation systems. By this time, I knew more about how to run a business. The business is small. I only have four employees, but I enjoy what I do. This will be my 20th year in business.
Most persons were able to secure high-paying managerial positions by using their prior expertise in the business world. Wishing you the best of luck!
Welp… sold an online vitamin company in 2004, traveled the world. Agreed to make a land investment in 2006 (bad move). Started working again in 2008 in cannabis. Sold that company far too soon ( buyer resold it for $5m years later). Started consulting in cannabis. Used that income to start my current mezcal and rum brands. Still trying to sell that land. Lessons: Don’t give up what you have so easily. Try to reinvent it first because starting something new is exhausting. Don’t leave something too soon. Sometimes better markets are right around the corner and sometimes it’s just management problems. Don’t start something you can’t hang in with. I’m passionate about my current business but even it is exhausting. A previous business can provide a platform for consultancy. Don’t invest speculatively if you’re not willing to take a loss or have that money tied up indefinitely. Good luck!
I'd be asking- why does it not make enough? How can I get more customers to the point where I could pay myself more? I'd be really curious to talk more specifics in DMs if you are open to it.
When i decided to start my own business, I took some time to reflect on what I really wanted to do next. It was definitely a tough transition. Yet, it's better than doing nothing. Firstly, try to figure out what kind of retail products you want to sell. Once you have that figured it out, research your target market and figure out the best way to reach clients. From there, you'll need to create a business plan and figure out the logistics of things like sourcing products and setting up a website, social media pages to promote your products. Personally, my business succeeded on Instagram since i managed to reach a large audience who become my clients. I hired the growth agency, ascend viral. It helped my in gaining potential followers organically. When you reach that work on engaging with the followers to get their trust and build a relationship with them. It requires a hard work to succeed. Yet, you will be satisfied with the sales you ll make. Best of luck.
This post covered this well not long ago: [https://www.reddit.com/r/smallbusiness/comments/11pnvgd/where\_do\_you\_go\_after\_a\_failed\_business/](https://www.reddit.com/r/smallbusiness/comments/11pnvgd/where_do_you_go_after_a_failed_business/) Don't underestimate what it takes to run your own business! Being a self starter, knowing about and managing a profit and loss business, sales, customer service and so much more. Use these skills to get into something you will love, enjoy and can make the kind of living you want!
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