Cash strapped business. How do I NOT give up?

Sometimes being an adult means that we have to face the reality of our situation. Do you regret any of this? If you could turn back the clock, would you warn yourself not to do this? Do you wish that you could be back in the corporate world? What was it about striking out on your own that was appealling to you? Is that still the case? Are there days when you wake up and say to yourself, "It's hard financially, but so rewarding professionally!" Because if not, if the whole thing is a slog, pull the plug and go back to the corporate world. I know it's not what you want to hear, but sometimes shit doesn't work out. I bought a house as an investment and it bled me dry. I held on for years, waiting for the market to turn around, paying thousands annually to repair totally unsexy stuff, and in the end I couldn't afford it any more, and went into hock to sell at a loss. I'm still climbing out of that hole. But you know what? So what? I'm in a better place now, and I'll be fine. I left my cushy IT job to teach high school. I knew it was a mistake after the first 3 hours. I stuck it out for two years, and ran back to the phone company as if it were my hope of heaven. Even with all the ups and downs of the past few years, layoffs, shitty bosses, etc, I'm in a good place at a new job now. So you failed, or at least it's not working out like you expected. Why keep throwing good money after bad? If you can, extract yourself and get a new gig at someone else's company. You have to really be honest with yourself. Are you sticking it out, out of pride, or is this business really going to provide you with an income that will allow you to make a good living and to retire in comfort? Because the only thing worse than a bad decision, is continuing to live with it.

Have you sat down with a professional, someone without your emotional investment, to review your financial projections and make sure they are reasonable and accurate? Because if it has been seven years, had a least one major cash infusion, and you still are paying your staff's salary late, I would worry that the smallest miscalculation (a change in tax structures, rising utility cost, a client dissolving before paying what is owed) will suddenly sink you into enormous debt. Maybe you can look at alternatives like picking up a corporate job and scaling back clients to only the most profitable ones? Also, seven years of stress is hard on your body. Have you had a vacation at all in that time? Any success (outside of the business) you can be proud of? Is your life balanced or is it all about keeping this business afloat?

You asked "How do I motivate myself to go on?". But the answer - and even the notion of whether you should be asking this- depends on two other preliminary questions: 1. Should you keep going? and, if so then 2. Although your business seems to be looking better than before, are you confident that it can make it as far as the better times you see on the horizon? The best way of answering your first question is by listing what is most important to you in your life in descending priority. Not just money, or pride but also balance and health and the needs of those around you. Is your business contributing positively to stuff at the top of the list? Will it? The best way to answer the second question is with a spreadsheet - and perhaps a neutral accomplice to look over the figures. If the fuel is going to run out before you reach the next filling station then you have a very clear and objectively defined problem. Only if these two questions are out of the way do you have the luxury of attending to your own morale - but if you can honestly answer "Yes" to them both then you are going to have much less of a problem motivating yourself.

So, you're morally and financially broken. Accepted. But, you're there. It's another two years. Write down the day you expect to break even on a card, laminate it and put it in your wallet. Every time you get distracted and start thinking negative thoughts go back to the card and concentrate on that date. You have what the rest of the world wants, working independence and a successful business. You're there, just see it through. This just requires some patience In the meanwhile, I'd recommend taking it a little easy on yourself. You sound incredibly burnt out. Try and recover. Don't give up! You've been through hell for 7, let's see fruition in another 2! And please come post in this thread when you finally do hit that magic number!

Sounds like you tried everything so far. Why not try http://www.urbandharma.org/udharma4/mpe.html? Clear your mind. Meditation without the woo.

Thanks all for your contributions. I just put a laminated card in my wallet with the date 17 March 2016 (either I’m out of my misery then, or I bow out and go tend sheep in the country side). Now, to give some more perspective about my though process and why I want to stay the course: • The business made about $250K in sales last year, and has grown at a healthy 15-20% for the past three years • Gross margin is 30% and I don’t pay tax yet because I still have not fully recovered the losses of the first three years; this will no longer be the case starting next year • I have calculated that sometime in 2016, the company should be out of debt (currently around $120K) • I am still able to work with banks, even though their lending processes are painfully slow, but never for the kind of amount I really need. I get short term loans (2-3 month) of up to $25K when I really need a $250K loan over 5 years to turn the business around and accelerate growth • I have not even started to dent the huge market that exists in this part of the world (French speaking African country), for I don’t have the financial resources to invest in marketing and sales generation • With a good cash position, I could easily double my revenue year on year, the grow it at 10-15% for the next 5 years • I have a healthy support system (family and friends) • Without medical insurance, I realise I had to stay fit in order to survive so I took up running 6 months ago. I run three times a week, and have shed 25 pounds in the process - with 15 more to go • I have not been able to find an investor with cash (the few that exist here are only interested in projects worth millions of dollars) despite talking to a French company last year that I now suspect was only interested in my business plan to pass it on to their local subsidiary which is my competitor (stupid of me to even talk to them, I know) Everyone around me tells me I just need to be a little more patient. If only I didn’t feel so worn out. I used to be really good at keeping an active social life, but now I socialise less and less. Perhaps books resources or rags-to-riches or other turnaround stories would make me feel less lonely and useless.

Oh well that is really positive! Ok, so you have your long term goals all set, write out some achievable short term goals to give you a "win" that you can reward yourself for. It would also be a good idea to have someone you check in with periodically to give you a pep talk, like a coach. Network with other small business owners too so you have other perspectives and maybe there will be some kind of unexpected. synergy. Next year, with the debt paid off you will look much more attractive to investors. I assume there is no government grants accessible to you?

Sounds like you're doing very well, maybe you should think about joining a group of like minded business people. But beware of that too: they might steal your idea!

Your update sounds fantastic! I still concur you're burnt out. Take some time out to recover. Look up resources on burnout etc. You have done the hard part, now ease off on yourself - you need to in order to see it through for the next two years. Time to start taking care of yourself. Take it from me, don't skimp on that part. It's often overlooked but it is the foundation stone for everything you do.