Active discussions

Meet the Other Phone. Protection built in.

Meet the Other Phone.
Protection built in.

Buy now

Please or to access all these features

Talk
Business founders/entrepreneurs
Original poster

Successful new business....can't cope

19 replies

Irishgene · 17/12/2021 09:20

I set up a business in the summer this year, its gone from strength to strength and has been really busy but its putting a massive strain on me and my family.

I set it up on a bit of a whim after coming up with a product idea and didn't expect it to be so popular!

I'm still working my 'normal' job 3 days a week and spend every other waking minute on the business.

I'm thinking of having to close down as I just don't see how to cope.....I could take less orders but then it wouldn't be worth it.

Any advice.. .should I see a business advisor? I know I regret closing a business down that potentially replace a job I want to get out off plus more.

OP posts:
thesandwich · 17/12/2021 09:22

Outsource what you can. Virtual pa? Recruit someone paid by the hour?

Katlow · 17/12/2021 10:25

Virtual PA sounds like a good shout.
I'd imagine people are screaming for that kind of work.
I'm an office manager part time as I've got a 7 month old and have been looking out for some flexible admin work for when he goes to bed so I still get to spend my time with him! But there's nothing going and I can imagine I'm not the only one who would snap up something like that.

delilahbucket · 25/12/2021 14:19

Outsource and automate everything that you can (postage labels, accounting, social media posts, auto replies to emails and messages), make sure you have a watertight routine so you aren't flitting from job to job and wasting time (set time for checking emails and messages, set break times), but really, if it is doing so well and you believe it to be sustainable, now is the time to be thinking about quitting the day job. Alternatively can you take on an extra pair of hands on a temp basis to see how it goes? I did that last year with two people. I've had a dire year but managed to hold on to one permanently.

Joist · 27/12/2021 22:23

This reply has been deleted

Message deleted by MNHQ. Here's a link to our Talk guidelines.

WaterJunkie · 07/01/2022 15:59

What type of business is it? Is it selling a product online?

BrieAndChilli · 07/01/2022 16:04

Break it down.
What is causing you to be so busy - is it something that you could outsource, if you can outsource then is it something that can be done remotely eg someone work from home or is it physical practical stuff that you would need someone to come and help you?
What are the current financials? I assume as you are still working elsewhere it is not earning enough to replace your wage? Which in that case means you probably could take on someone to help.
Is it a product you make yourself? Could you find a supplier to make it for you?

ThreeFeetTall · 07/01/2022 16:27

Who's in your household? My DH is self employed and it is very busy, hopefully it is just a couple of years like this. I do all evenings with kids and then cleaning up etc. He works in evening. Previously we would split the chores 50/50. I look at it as my contribution to the business (I get dividends). Are you stressed as you feel you should be doing 50% of house stuff? Let that go if you can.

Congratulations on your successful idea!

PineappleIceCream · 07/01/2022 16:34

It would be a shame to shut something down that was successful. I am a virtual PA and I have had clients come to me in the past in this situation. I think your best bet is to try and outsource work. It will depend how much time is actually needed from you as to how much work you can pass across to someone. You don’t mention your type of business but if a lot of the work is admin and logistical type work then it could really lighten your load.

ANameChangeAgain · 07/01/2022 16:52

You can't shut down a business because its too sucessful. If you are making money pack up your job.

Miaowse · 07/01/2022 17:04

If you are in the UK and have young children (and can afford it) could you use some parental leave to have some unpaid time off your usual job?

www.gov.uk/parental-leave

thebigpurpleone · 13/01/2022 07:25

Ooo sounds intriguing, what is it! Can you outsource some work?

nicesausages · 13/01/2022 07:29

What the biggest issue? If it is packaging and dispatch, find a local company to help you with that. Talk to local print companies. That'll free you up to build the business further Smile

NeedingCoffee · 13/01/2022 07:42

Sounds as if you’ve done brilliantly! It would be a shame to let a great idea and your obvious success go; if it’s so successful early on you might even be able to sell it if you really don’t want to continue.
Best bet is to ask around for an accountant business coach or business adviser; most will give you half an hour or so free; and take the problem to them. There are loads of good suggestions above, but without knowing specifics it’s impossible to properly advise.

ashorterday · 13/01/2022 07:49

Depends what it is really - friend of mine did something similar that took off but the whole ethos was about the product being "hand made by X" so she couldn't outsource either and gave up. It was a shame as the product was lovely.

BitOutOfPractice · 13/01/2022 07:51

Two options I’d say

  1. Take someone on / outsource
  2. Take the plunge and go full time on it.
FabriqueBelgique · 13/01/2022 07:53

If demand exceeds supply can you raise your prices?

youtown · 13/01/2022 08:01

Of its successful can you not leave your main job? Self employment has so many more benefits than employment IMO, I'd never go back to employed. Well worth thinking about.

youtown · 13/01/2022 08:01

@BitOutOfPractice

Two options I’d say
  1. Take someone on / outsource
  2. Take the plunge and go full time on it.
Agree with this.
BitOutOfPractice · 13/01/2022 12:43

@FabriqueBelgique

If demand exceeds supply can you raise your prices?
I agree with this too! I have yet to meet a woman starting a business who is charging enough!
New posts on this thread. Refresh page