Originally Posted by Roger
I will be 72 in another couple of weeks, and have worked solo for 18 years. I am still in good health, and do not have health issues as the OP speaks.
However, at some point, I too will have to "get out." I still work the business 50, 60, and as much as 70 hours in peak times. I works six days, never on Sunday. But, how to "get out?"
Frankly, I would never find an employee to turn over the workload. I can't imagine sending somebody out with my equipment, to properties that I have worked for years, many of them over 12 years. If I thought working the business in the field left me with problems, having an employee with my equipment, my customers, would give me a headache like I've never had before.
At this point, I think the only way out is "cold turkey," that is, a clean cut from the business. Yes, I would still fret and stew on how well another LCO is doing with those properties, but I also know that I could not do anything about it -- that being a good thing.
I've read lots of threads about transferring accounts to another LCO, selling the accounts, or whatever terms one would like to use. I know of only two LCOs that I would ever consider discussing a transfer/sale. Nobody else does work like they do, nobody else handles themselves with customers as they. In this case, I know the track record of these folks. An employee to do the field work, as some have suggested, has no track record. I could never live with myself if my customers ended up with a bad experience as a result of any transition.
Just my thoughts, ... sure that some will disagree.
I don't disagree with this at all. This is the difference between "self employed" and "business owner". The self employed want to work for themselves, control every aspect of the business. The business owner wants to hire people and delegate work to employees so that they can work ON the business not IN the business.
The end game for the two is usually quite different though. The self employed will usually end with all money earned, and proceeds from sale of equipment and perhaps clients. The business owner will be able to collect "residual" income from the business as a silent owner if the systems are inplace to to keep it running. If the business owner wants out completely, the business can be sold without so much as a hiccup in the daily service, and at a much higher price as the business up and running and has a value as a business, since the operations are dependent upon 1 or 2 people working. If a persons end game is to slowly distance themselves from the work by a certain age, or to sell it off as a fully functioning high value company, then systems need to be in place long before this time has come.
There is nothing wrong with either way, its a personal choice we all get to make while we run the businesses as we see fit.