After a Year of Ownership – Fit & Next Steps

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by a searcher from University of Denver
in Denver, CO, USA

1yr ago

After a Year of Ownership – Fit & Next Steps

For those who acquired a business and realized after a year that it wasn’t the right fit, how did you navigate the situation?

If you found yourself feeling stuck, drained, or questioning whether to push forward or pivot, what steps did you take? Did you try to reshape the business, bring in leadership, or explore an exit?

I’d love to hear from others who have been in this position and how you approached it.

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reply by a professional 1yr ago
from The New School in Washington, DC, USA

Year one is so hard.... you've got lots of important questions and good advice already... is this your first business?

If so, I'd be curious about whether you feel its' "this business" thats not for you, which will require talking with a lot of other business owners- or leading a business itself is what you don't love (or are unwilling to learn to love!). Sometimes, if it's just feeling "hard" (for any number of technical, financial, personal reasons) it can be a moment of really potent learning for you.

And even if it's time to sell, the kind of business that you can sell for a great profit is the same kind of business you rarely feel you want/ need to leave. I hope if you are up for the challenge you'll choose to let it grow you personally while you clarify and strengthen the business too.

Feel free to reach out if an ear might be helpful.

reply by a searcher 1yr ago
from University of Wisconsin in Hopkinton, MA, USA

Thanks, ^redacted‌ for the tag. These are lonely jobs -- I'm working to find a cohort that I can take questions like these to on a regular basis. Great job posting this and some great advice here to be sure, but there's no replacement for sitting down over a cup of coffee and getting someone's advice, at least for me. Food for thought. Thanks for the post -- a lot of great content here.