4.6 • 682 Ratings
🗓️ 16 August 2025
⏱️ 4 minutes
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0:00.0 | brought to you by the every dollar app start budgeting for free today today's question comes from |
0:07.8 | colin in arizona how do you know when it's time to leave a business that you help start i earn 500,000 a |
0:14.1 | year but the toll on my mental and emotional health is substantial considering my persistent |
0:19.2 | feeling of disrespect from the other owners, the income has |
0:22.5 | become irrelevant. The business brings in around $3 million a year, despite this there are no regular |
0:28.6 | meetings, no formal policies, and very little collaboration between owners. Most decisions are |
0:34.7 | made by a gentleman's agreement, and when I raise concern, I'm told |
0:39.1 | don't rock the boat. I want to grow the business, but the other owners have an attitude of |
0:42.8 | working on the business doesn't generate revenue. My only debt is $350,000 on our mortgage, |
0:48.7 | which we could probably pay off if my partners buy out my shares. At what point is walking away the right thing to do? |
0:55.9 | It feels like, Colin, you've reached that point. |
1:00.4 | You know, look, this is a situation where I don't see an end of this. |
1:05.3 | This is going to be a consistent frustration, and this does have an impact on you mentally and emotionally when you've got a |
1:11.2 | three-headed cow here at the ownership, and this is sticky, it's gross, and if you can get the |
1:16.8 | other owners to buy you out, it feels like the time is right, pay off the house, it sounds like |
1:22.2 | you're entrepreneurial, refocus, and I think this is the right thing based on what I know here this doesn't feel like |
1:28.7 | this is going to get any better there's two reasons that you need to be bought out immediately |
1:35.2 | one is you're miserable and you're done yeah two is the misbehavior of the business operations are going to cause the failure of the business and you're going to ride the horse until it dies. |
1:50.5 | And it's going to die. |
1:53.2 | The DNA change of death is already in the workings of this business. |
2:00.6 | The things that they are not doing, like operating the business well, are going to cause |
2:07.3 | the failure of the business. |
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