What's upsetting you today?

[limey]

Originally Posted by lookout123

Stress.

I have the opportunity to sell my practice to an associate for an amount that eliminates all of my debt save the house and one car. In this deal I would continue on as an employee with an solid payout on my production and would keep my current clients with no disruption to them beyond a change to the letterhead.

I'm tired and worn out from being "the decider" and truth be told I'm just kind of tired being entirely on my own. IfI don't like working with him (even though we've worked together loosely for years) I can walk away and start over after 24 months with my clients intact. It shouldn't be that hard of a decision but there is just something gut churning about giving up the "I own my company" bit.

Is it "giving up" or "realising the value of your investment of time and effort"?
At times like this I toss a coin to decide. You have to really believe that you will do what the coin tells you to do when you look at it, and I do mean really. Note your reaction to what the coin told you to do - relief? Misery? Then ... go with your gut, follow that reaction.
You can't use this method too often, but just now and again you can suspend your disbelief long enough to find out what the reaction tells you.

[lookout123]

This isn't about giving up. My practice is at a point where a decision has to be made. I can't grow any more without significant investment (which I just can't swing right now), but it has significant value to anyone who purchases it. I have good name recognition and networks that could take someone else considerable time and effort to establish if they start from scratch. At the same time, if I sell and stay as an employee the new owner would receive value from my continued production. They win. I win.

I'm burned out and tired of having everything rest solely on me. In all honesty if I could think of something better to do I'd walk away entirely.

[DanaC]

Maybe at some point in the future you will think of something better to do, and having sold the business will be able to walk away. In the meantime, this sounds like a good solution. Hard to swallow, I know. But you may find that, with the pressure of being 'the decider' removed, you rediscover some enthusiasm for what you do. You are, after all, very good at it. Either way, it strikes me you've done marvellously well to create a going concern in this economic climate, and getting it big enough to sell, and hand over the stressful running of it is a major achievement. You deserve to feel proud of yourself for that.

[SteveDallas]

The buyout sounds awfully good to me... because you sound burned out, and this gives you 24 months when it can become clear to you whether you're better off (for whatever value of "better" is important for you) as "the employee" or "the decider."

Originally Posted by lookout123

I can't grow any more without significant investment (which I just can't swing right now)

"Grow" in what sense? More clients? More $$$ under management? What happens if you don't grow?

[capnhowdy]

With your resume showing you as a successful business owner, I imagine you'll be a "decider" no matter where you work. This has been my experience.
I sold my company to my current boss (who is now my employer) a couple years ago. He matched my salary and tossed in benefits. Really scary at first, and honestly quite humbling.
It wound up to be the best decision I've ever made. Except the one about skinny dipping with Becky Sue. That was good.
I miss some things about it. The competition is the main thing.
Good luck with this, lookout.

My family. My dad. Fucking jesus dick on a pogo stick.

[Aliantha]

I used to have serious issues with my Dad, then I learned to just say, "yes Dad" and go ahead and do my own thing, or alternatively tell him I'm really not interested in what he's talking about (he used to spend a lot of time bitching about my mother even though they've been divorced for years, and she's passed away. As you can imagine, particularly after her death I really wasn't interested in his bitching) He doesn't bother doing it anymore because I stopped talking to him for almost 2 years because of it.

We have a great relationship now. We've both learned some lessons.

[TheMercenary]

Originally Posted by lookout123

Stress.

I have the opportunity to sell my practice to an associate for an amount that eliminates all of my debt save the house and one car. In this deal I would continue on as an employee with an solid payout on my production and would keep my current clients with no disruption to them beyond a change to the letterhead.

I'm tired and worn out from being "the decider" and truth be told I'm just kind of tired being entirely on my own. IfI don't like working with him (even though we've worked together loosely for years) I can walk away and start over after 24 months with my clients intact. It shouldn't be that hard of a decision but there is just something gut churning about giving up the "I own my company" bit.

Tough situation mate. I wish you well.

Originally Posted by Aliantha

I used to have serious issues with my Dad, then I learned to just say, "yes Dad" and go ahead and do my own thing, or alternatively tell him I'm really not interested in what he's talking about (he used to spend a lot of time bitching about my mother even though they've been divorced for years, and she's passed away. As you can imagine, particularly after her death I really wasn't interested in his bitching) He doesn't bother doing it anymore because I stopped talking to him for almost 2 years because of it.

We have a great relationship now. We've both learned some lessons.

My dad is actually awesome, and we have a great relationship... it's just that I think he may have done something REALLY stupid.

And just family drama. There's only so much you can take before it stops being cute and eccentric and starts feeling like a circus tent.

[Queen of the Ryche]

So the elbow that I split open three weeks ago is still in pain - got x-rays yesterday - My regular doc called me this a.m. to tell me he's referring me to an orthopedic doc.

[limey]

Originally Posted by lookout123

This isn't about giving up. My practice is at a point where a decision has to be made. I can't grow any more without significant investment (which I just can't swing right now), but it has significant value to anyone who purchases it. I have good name recognition and networks that could take someone else considerable time and effort to establish if they start from scratch. At the same time, if I sell and stay as an employee the new owner would receive value from my continued production. They win. I win.

I'm burned out and tired of having everything rest solely on me. In all honesty if I could think of something better to do I'd walk away entirely.

Sorry, I wasn't entirely clear; what I meant was "giving up the 'I own my company' bit" ...
The consensus here seems to be give it a try. It's not a forever decision. Take 24 months of not being in the hot seat and see how you feel then ...
Best of luck whatever you decide!

Last night one of my closest friends, B, called me because one of his hens had been mauled and was in bad shape. He figured she needed to be put down, but he couldn't do it... he loves his hens, and this one, Buffy, was his favorite... the most docile and friendly of the three.

On the phone I was asking him questions about the injury, hoping it wasn't as severe as he thought, but when I got there it was... oh my god... fucking awful. I think a raccoon must have cornered her and then basically just started eating. I've never seen anything like it, and I didn't know a living thing could be damaged that badly and still be walking. Poor, poor little hen. Me and another friend sent him on a walk around the block while I took care of and buried Buffy. Then we took B out and got dinner and beer and hung out with him a while.

[Shawnee123]

Aww, that is sad.

[Queen of the Ryche]

Aw, Tiki. A pet is a pet. Thanks for taking care of Buffy, and your friend.

Thanks guys.

I know it's a risk of keeping chickens, but god. It was heartbreaking.