Entrepreneurs are in love with their ideas. And oftentimes – especially in the case of first-time entrepreneurs – they want to run the resulting business. That’s usually because they think no one can care about the idea as deeply as they do and as a result, no one can run the business as well as they can. But sometimes, holding onto a business may not be in the best interest of the company – or the entrepreneur.
Here are 5 situations when that might be case:
- You turned a hobby into a business. You may start your own business in order to transform something you love to do into a profession. In the beginning, you do everything because to you, it’s still a hobby. You make your product, sell it, clean up shop, balance the books, get your supplies, and update your website. You don’t mind all the hard work, because it’s your passion. As the business starts to grow, you may find yourself spending less and less time on what you love and more time in other functional areas of the business. If a lifestyle business is what you want, it may be time to refocus and hold tight to the small business that you’ve built. If you want to see the business take off and move beyond the hobby stage, something has to give and it might need to be your control.
To read the full, original article click on this link: JumpStart: IdeaExchange Blog » Blog Archive » When Should an Entrepreneur Hand Over the Reins?
Author:Tiffan Clark
