Question
I've been running an online writing service for a few years. Sales have been static, but predictable, over the past 3 years. I have since lost interest in this business, and my attempts to diversify (into similar markets using existing resources) have not been successful.
My current aim is to build a £1m+ revenue business, but I'm currently stuck at 1/3rd of that.
I can either attempt to sell the business and move on, or try yet again. There's no guarantee that any of the pivotable ideas I have will be successful.
Ty
Answer
Sell your business, Ty. Just get out while the revenues are real, the pipeline is strong.
In my experience, when an owner-manager loses interest it's downhill for the whole business from then on.
You will have a short term goal to sell which will enable you to keep focused and you will gain a lump sum which can then be invested into something new (which could get you to $1m). You may also find that your new owner wants you to stay on and become an equity participant in a bigger firm which could shortcut your route to your goal.
Well done building what you've done thus far.
Take a look at BlogMutt.com, I know the owners and they may be in the market to buy.
