I’m 55 but feel old, tired and a little bored with the pressures of running a practice. Over the last few years it’s grown, and has been profitable.
At conventional rates, it has made its 40% net profit, so selling at 1x fees seems a disaster, and after clawback, probably be nearer .7 so less than two years profits.
I wanted my team to step up, I’ve taken on a consultant to help, but profits are falling, and I get constantly frustrated with it’s poor performance over the last few months.
I’m torn, I’d love the great work we do to continue, but we seem directionless, team issues, and going nowhere.
I hate the idea of a sale, I feel I’d be selling out both my top team, and clients I really care about.
Should I look to recruit a managing director, to run things properly, as a proper business?
Or should I sell?
I can’t sleep and I’m really sad.
I would happily talk off line about this...I can discuss numbers and would really appreciate a short call, if you think you can help. Send a message and I’ll send a private message.
Or any public comments that could be helpful