The Dilemma of Closing a Profitable Business: A Personal Reflection
As a bar owner, I always prided myself on being deeply involved in the day-to-day operations, mastering bartending skills and being present during busy shifts. However, life has taken a turn I didn’t see coming—I became a mother just five months after launching the bar. Now that I’ve welcomed my little one and returned to my vibrant social circle, I find myself facing an unexpected dilemma: should I consider closing my business, even if it continues to generate revenue?
The Struggle with Attachment
The bar has been a significant part of my life, but since becoming a mother, my priorities have shifted. While the business is still profitable, it no longer serves as my primary source of income; instead, it provides a supplementary financial boost. Despite turning a profit, I can’t shake the nagging feeling that it’s time to let go.
Why is that? One possibility is my emotional investment in the bar. It has been my passion, but I now grapple with the reality that I can no longer dedicate myself to it fully. The joy I once found in bartending has been overshadowed by the responsibilities of motherhood, and I find myself less engaged and proud of my work.
A Conscientious Exit
I often think about the reasons for wanting to close the bar. It’s not just about finances. I want to ensure the business ends on my terms, rather than waiting for it to falter financially. I also have growing concerns about the environment of the bar—the late nights, the drinking scene—may not be the healthiest choice for me, my husband, or my child. While I know I can choose to drink less, I struggle with self-discipline in that setting, and that awareness is another factor pushing me toward this decision.
Seeking Perspectives
I’m keen to hear from fellow entrepreneurs: Have any of you made the difficult choice to close a business that was still profitable? What thought processes helped you accept that it was time to move on?
Why Selling Isn’t an Option—At Least Not Yet
Though I’ve contemplated selling the business, I hesitate. The bar has become intertwined with my identity, and there’s an emotional weight that comes with letting it go. It feels selfish to not pass it on to someone else who might be able to nurture it, but I also recognize that my connection to the bar creates a unique dilemma that complicates my decision.
I want to acknowledge that this conversation stems from a place of privilege, and I’m thankful for the ability to even consider these options.
In sharing this, I hope to connect with others who are navigating similar crossroads. Your insights and experiences would be invaluable as I weigh my options and grapple with the complexities of my current situation. Thank you for letting me explore these thoughts with you.
2 Comments
Closing down a business, especially one you’ve built with passion, is a profoundly personal decision. Your reflections suggest that you’re grappling with not only the financial aspects but also the emotional, lifestyle, and health implications of running your bar while balancing motherhood.
Here are some considerations and practical advice that might help clarify your feelings and assist you in decision-making:
1. Reflect on Your Values and Priorities
The first step is to articulate your values and how they align with your current lifestyle. As you noted, being a mother has become a central aspect of your identity. Reflect on what you want your life to look like moving forward. What does success mean to you now? It may be helpful to create a list of your values and rank them. This should guide your decision on whether to maintain or close the business.
2. Emotional Attachment vs. Practicality
Your attachment to the bar is understandable; it represents a significant investment of your time, effort, and personal identity. Consider the reasons driving your attachment. Is it the pride of entrepreneurship, community connections, or the lifestyle that comes with the bar scene? If the business no longer aligns with who you are (especially as a mother), it might be worth considering closure sooner rather than later. You mentioned wanting to end on your own terms; that’s a powerful motivation to take control of the narrative surrounding the bar’s future.
3. Evaluate the Business’s Role in Your Life
Think critically about what the business currently brings to your life beyond financial support. Are you still passionate about it, or has it become more of a responsibility? If it feels more exhausting than fulfilling, it might be a sign to step back. Consider drafting a pros and cons list focusing on mental and emotional effects, not just financial factors.
4. Explore Alternative Options
Before making a decision about closing or selling, you might explore interim solutions. Could you hire a capable manager or partner who would allow you to maintain a level of oversight without the hands-on commitment you’ve previously held? Or, could you shift the business model to create a healthier environment for you? For instance, could you organize events with non-alcoholic themes or cater to a family-oriented demographic during certain hours?
5. Establish a Timeline for Decision-Making
Rather than feeling overwhelmed about closing the bar, set a timeline for evaluating and redefining your goals. This could be in the form of a three- or six-month review of how you feel about the business as a mother. Document your feelings regularly and revisit them to see if the weight of those feelings shifts with time or circumstances.
6. Seek Support and Perspectives
While the desire to discuss this with others is evident in your post, consider reaching out to a mentor, business advisor, or therapist who can provide a neutral perspective on your situation. Talking through your feelings might provide clarity that’s hard to achieve alone. There are also entrepreneur networks—either in person or online—where you can share experiences and hear from others who may have faced similar transitions.
7. Know It’s Okay to Move On
Many successful business owners grapple with the challenge of closing a business. There’s a powerful strength and wisdom in recognizing when to pivot. Accept that your worth is not defined by this business; it is a part of your journey, and choosing to step away doesn’t diminish your accomplishments. In fact, it can empower you to focus on new pursuits that align with your evolving identity as a mother and individual.
In conclusion, take the time you need to explore these reflections. Every entrepreneurial journey is unique, and prioritizing your well-being and family will ultimately guide you toward the most fulfilling path. Remember, it’s not only about what the business can provide but also about what you need in this new chapter of your life.
Thank you for sharing your heartfelt reflections on such a pivotal moment in your life and career. The emotional complexities surrounding closing a business, especially one you’ve nurtured, are profound and resonate deeply with anyone who’s had to choose between their passion and their evolving personal responsibilities.
One aspect that I believe is crucial to consider is the opportunity for reimagining what your bar could represent in this new phase of life. Have you explored the possibility of transitioning the business model to something more sustainable for your current lifestyle? For instance, could you consider hiring a manager to take over the day-to-day operations while you maintain an ownership role with less direct involvement? This could allow you to keep a connection to the bar without the intense commitment, giving you the space to balance your responsibilities as a mother while still holding onto your passion project.
Moreover, documenting this journey can provide clarity. Journaling your feelings and thoughts might help in processing the emotions tied to the bar and could reveal insights about what you truly want moving forward. Your experience could very well resonate with others facing similar dilemmas, and sharing those reflections might even lead to new opportunities you hadn’t considered, such as mentorship or consultation in the hospitality industry.
Finally, remember the importance of self-care in this decision-making process. Balancing your well-being and the health of your family is paramount, regardless of financial success. Whatever you decide, prioritizing your family’s well-being and personal fulfillment will undoubtedly lead you to the right choice. Thank you for inviting us into this