83: How Do You Know When To End Your Business And Get A Job Or Downsize with Monica Schrock

I had my first business from 2012 to 2016 as a Fundraising Consultant. I ended it after 4 years because I was done with the ups and downs of owning a business.

Sure, there was shame, BUT my nervous system was so calm that I manifested my dream job and dream boss, with whom I am still good friends to this day.

Maybe YOU are also thinking of ending your business or doing it on the side, and as someone who ended their first business, there’s NO shame in it. It’s about honoring where you’re at.

I’ve been talking to more people who are getting frustrated with their business right now. And there can be different reasons:

• The economy
• Election year
• Being overwhelmed 
• Things that were once working are no longer working
• Lower cash flow this year than normal

Here’s the reality no one is talking about: 2020 and 2021 were an anomaly. Many businesses grew, but it was because we were stuck at home from the pandemic, including mine, that doubled.

But many of us are reevaluating. I want to emphasize that if you feel like it’s only you feeling this way, it’s not. It's rough out here now, and shifting feels like a must.

Even for me, here are some shifts I’m doing:

• I’m simplifying my business by only working with 24 clients at one time
• Looking for more corporate contracts with companies like LinkedIn with my courses.
• Recently, I’ve also been approached by a couple of Fortune 500 companies to do executive coaching with their leaders.

Whether you're thinking of closing your business, simplifying it, pivoting, or having it on the side, remember, we're all evolving. Life is more than work; it's about experiences and making memories.

This is why my friend and Marketing Strategist Monica Schrock and I had a vulnerable talk about why there were times when we went back to the workforce.

We discuss the impacts of the economy, personal well-being, shifting personal priorities, and honoring each stage of life.

What We Cover in This Episode:

• Navigating Business and Personal Challenges
• The Business of Balancing: From Full-Time Jobs to Freelancing
• Boosting Credibility and Skills in Business

If you would like to see how to work with me to create a more sustainable life where you can be more present with yourself and create your own checklist of success that’s not created by society and loved ones, then schedule a complimentary legacy business and career review at elainelou.com/call

Resources Mentioned:
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