When To Close A Business: How To Know If It’s Time to Move On

Rolling on a Q and A. Is that how they do it? That would hurt my voice. That feels like I ate something.

Hey, there it's Marie Forleo and you are watching Marie TV, the place to be to create a business and life you love. And this is Q and A Tuesday, and today's question comes from Natalie and she writes, "Hi, Marie, I've been following you for quite a while now. You're awesome. Such an inspiration." You're awesome. "I'm a 29 year old multi-passionate entrepreneur who owns a dance academy in South Florida. I started my business because of my passion for dance and teaching. However, two years in I'm feeling overwhelmed and tired and disconnected from everything and everyone." Sad face.

"My business isn't doing that good and the monthly bills are making me crazy. I recently contemplated, closing down my studio and letting it go because I feel like I can't do it all anymore. But to be honest, the thought of closing down makes me sad and depressed because of all the hard work I put into it. My question is, how do you know whether to keep on trying until the end or let go and move on? Thanks a bunch, Natalie."

This is a great question, Natalie. And you know what? I think we need a little Kenny Rogers here.

(singing)

But seriously, Natalie, here's the deal. In our culture, we're taught a quitter never wins and a winner never quits, but that's not always true. When you've given something your very best and that little voice inside of you says it's time to move on. You're listening to the wisest part of yourself. It's honesty time, Natalie. Is seeing this business succeed your true heart's desire, or does the idea of keeping this business going drain you even if it's a raging success?

Riddle me this. Which feels better to you, option A you up your marketing game and your dance studio becomes a booming success for the next five to 10 years. Or option B your business magically disappears and you get to start fresh with something new. I got to tell you, if option B fills your heart with a sense of lightness and excitement and joy, then it's probably time to close down your studio and move on to your next adventure.

I want you to remember this and yes, it's a tweetable. When it comes to forks in the road, your heart always knows the answer, not your mind. Weathering on if your heart's not into it, doesn't do you or your customers any good. And this is true in business and in relationships. And here's the thing. If something ends, it doesn't mean it was a failure. Everything that we do is always serving our own evolution and we always get lessons that we can't get any other way.

You can think of all the hard work that you put into your dance studio as counting towards your next endeavor, because here's the thing, hard work is never wasted. That was my A to your Q, Natalie, let us know what you decide and how it goes.

Now, I would love to hear from you. Have you ever had to make the decision between holding them and folded them? Have you ever walked away from something and regretted it or have you walked away and found it was the biggest blessing ever? I want to hear your story. As always, the best conversations happen after the episode at marieforleo.com. So go there and leave me a comment right now.

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(singing).