My product has been making $500K+ over the past couple of years. But I am no longer passionate to work on it.
I am pulled between two polarities: the desire to take advantage of this opportunity and grow the business into a multimillion dollar venture then sell it. Or move on to a new idea/product that I am more passionate about (I don't have any new ideas yet), and let the revenue from this product die away over the next couple of years.
I am not a businessperson. I can do business and marketing really well, but I am a creator at heart. I like creating things, not selling things. Doing business and marketing makes me feel that there is something inside me dying every day, and that if I keep doing it, I may never recover that part of me.
I tried doing both at the same time, splitting my day between working on new projects and maintaining my business, but that made me depressed coz it left me no time for social activities (I'm single) and to take care of my health.
I thought about hiring someone to run the business for me, but the challenge with this one is that my business is built around my personal brand and core skills (I am a jack of all trades in writing, technology and design), and finding a similar person has been a challenge.
Hiring a virtual team and going down the outsourcing route will probably require as much time, if not more, to manage all the contractors needed to run the business.
And trust me, I recognize the unique opportunity and blessing that I have, and I am grateful for it every day, but I am no longer able to put in more time into this. I tried forcing myself, and I got sick and miserable. I recognized that I would be doing it just for the money.
I'm looking for some ideas and insights, especially from folks who've been in a similar situation: what would you do when your business starts pulling in $$$ but you no longer want to work on it?
Thanks in advance for your hlep!