Hi,
I'm in a bit of a unique position. I built a lead generation website in a very boring local service niche that does very well and beats out 95% of the competition in Google for the biggest metro area in the US (New York). I charge per qualified phone call to the client who pays weekly.
My position is this: I do not want to operate as a lead generator (middle man) any more as I feel this is not a stable business model for the future.
So that being said I've decided I want to become owner or part-owner or sell it off and move on. Based on loose math I've done it could be a nice payout based on 1 years's worth of revenue it brings into the client if I were to sell it.
Though, I'm wondering if you were in the position of getting hundreds of phone call leads per month for an industry you had zero passion for if you would stick with it and build it into a bigger/higher quality operation or sell it off to the client and move on to new projects that may be more in line with your passions and personal interests.
I know this is a very subjective question and there probably isn't a 'right' answer.
I feel that if I were to sell it I might wonder if I missed out on a stable business for the future (if I were to build it out) and if I didn't sell it I would be working in an industry that I don't care about and does not fulfill me.
Thanks!
I would rather work 80 hours per week on a project I was passionate about than 40 hours a week on a project I didn't care about.
You're right, there is no "right answer". You have to know what will get you out of bed each morning and excited to tackle new problems and challenges.
This is a personal development question more than anything else, I think. Could you find passion in growing the business and selling it off to a higher price? How about hiring someone to run it, and develop them into running it for you, so you can concentrate on other things? Is there any dimension in the lead generation business, that could make you find your passion?
If yes, build the business focusing on that challenge, and enjoy that you are developing on top of a successful concept. If no, find someone who is passionate about running the business, and pay you the price you want. And instead invent a new business, that you are actually passionate about building - perhaps using some of the proceeds from your sale.
Should you need someone to help you clarify your thoughts on this, I will be happy to talk to you in a call at some point.
Good luck finding your passion. That is the most important thing.
Best regards
Kenneth
Flip a coin. If that random outcome is a relief, then go that route. If it's a disappointment, choose the opposite.
And if you're anxious either way, then resign yourself to stay where you're at. Boring but safe for the time being.
Personally I hate being bored. I'd rather risk it all than stay put. But that's not the "right" answer. Might just mean anxiety and lead to disaster. This is really a question of temperament. Not a rational choice of pros and cons.
Look if it is a boring job & you did not feel passionate about the project, sell it. The problem with this belief is that it is limiting, leading us to think of passion as something we discover or happen upon. As a result, we may try many different jobs looking for the right “fit,” the role that instantly flips the passion switch, and we may not take into account the fact that it often takes time to develop one’s passion for a job, along with the skills, confidence, and relationships that allow one to experience passion for work. To better pursue your passion, challenge your assumption that passion is something to be discovered. Focus on actively developing a passion instead. Finally, you do not necessarily even need to pursue passion at work. If your job does not allow you to pursue your passion, or if you just don’t want to do so at work, you can find time and space to pursue activities you are passionate about outside of your job.
It is also important to understand when passion will not help you. In one set of studies, my co-authors and I found that passion is only linked to better performance when others agree with what one is passionate about, and when passion is expressed in an appropriate context. We find that expressing your passion may only help you if your audience already agrees with what you are presenting. If they are not already on board, your passion for the subject may not be effective in bringing them along. Similarly, if you are an entrepreneur, expressing passion for your idea may help bring investors on board, but expressing passion when discussing the term sheet may not have the same inspiring effect because of who we allow to demonstrate passion. Viewing passion as able to be developed, as a challenging ongoing process, and as something that may lead you astray may help us better achieve our goals.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath
