Burnout, sell or hire Gm?

B

brut4c

Location
west
Has anyone here ever reached a point where you're just done and feel like it might be best to exit in some fashion? Im there and I'm toying with the idea of either selling the biz or hiring a GM to run it for me. We're do about 2m a year with 18-20 employees.
Both options pose challenges, risks and potential rewards. Whats your experience with either option?
 
Around here, $2m with 20 employees would be about right, unless you did a lot of crane work or very large equipment. I got out of business briefly, it was not the right idea for me. I think a good manager is a better idea, and should be more profitable in the long run, although it will be a challenge as the new manager will take some time to learn the company. A friend of mine is doing just that with his construction company right now and it’s going well, it’s just taking a little time.
 
You’ll never know if you don’t try.
Sell it, and it’s gone.
Hire a manager, and you still hold the option to sell.
Would you still be involved at all? Sounds risky leaving it all in the hands of one person... mostly I’m talking about money. Make yourself the financial officer or whatever and it’ll be harder to get swindled.
Just thinking out loud I guess. Good luck!
 
I have a few things to say on the subject but I would have a few questions first. You may not want to hear what I have to say but if you want to continue reply to the following.
Your age?
How long in business?
 
NailerB said:
I have a few things to say on the subject but I would have a few questions first. You may not want to hear what I have to say but if you want to continue reply to the following.
Your age?
How long in business?
Click to expand...
41 and been in biz 10yrs
Im thick skinned, fire away
 
Well I wonder at your management capabilities? I have always thought that the measure of a great manager can be judged by the caliber of his employees. Which brings up my 1st question, do you mean to say that out of 20 employees you have not taken the time to groom one of them to run your business?
What have you done in the past if you were hurt, sick, needed to be gone, vacation? Did things just stop? Are you saying that out of your 20 employees that either none are interested in moving up or capable of doing the job? That is another strike.
I see this in a lot of companies, it usually stems from the owner being afraid to give up some of the control and delegate responsibility or hiring mediocre people at lower pay then having to babysit them.
If you really don't have anyone ready to step up I see two options.
#1 Sell out and be done with it.
#2 Better get busy and find someone and be prepared to hang in there for however long it's going to take to get him up to speed.

Sorry I don't have an immediate fix for your problem. I wonder though that if you started delegating some of your load out your burnout problem might go away? Maybe you would get to the point that you feel you can breath again.

Good Luck Pard
 
Here's my question to you. What does your heart tell you? Seriously! Is your instinct and intuition leaning your towards one decision over the other but you are still juggling the two back and forth? Do you know what you want to do but are just afraid to go through with it?

Making big business decisions can be challenging. I feel ya.
 
What’s your current profit margin? I’m wondering how much play you have bringing someone else in who’s going to make some mistakes in the beginning.
 
Seems like you need an HR person for that many people?

Do you need to Iron-Up to decrease employees?

Could a an expensive crane-ace removalist get rid of some mediocre climbers who are not committed or otherwise problematic employees who you can't do without, otherwise?
Tree-mek?


What are your most common problems now?

How much are the same old problems (some of which we can never fix, just replace, like 'broken' people (so many laborers with histories of concussions, addictions, money-problems/ junk vehicles/ hard to get to work/ DUIs, etc).

In the past, and how did you overcome them?
 
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