Advice please

ziggy_stardust_3 · 24 April 2009 at 9:07AM

If I can give you a brief backstory about my current situation. I am a 36 yearold selfemployed and own a company with 4 members of staff and have been trading 6 years.
The business turnover is steady with a low profit margin that is breaking even at the moment due to the heavy investment in machinery and property totalling about 60k in property and 40k in loans. I think about half of that may be secured.
The assest I have is a a £140000 property with a £60000 mortgage.

I have reached a critical mass and the pressure of running a business , responsibility to staff and my familly is taking its toll. To the point where after another day of hell I nearlly collapsed in the local supermarket I felt drunk and disconected from everything. This is a feeling that I have never had and felt something snaping inside.

I need a way to get out without destroying the people I care about family and staff. I have discussed this with my wife and we both dont need much to survive we dont smoke or drink much and live simple lives. I would be willing to work as a bloke in kfc to a parking attendant , whatever it takes.

I know this may be the wrong forum but struggling to find anywhere to vent my problem.

Thanks.

affluenza · 24 April 2009 at 9:31AM

Hello, you are not alone in how overwhelming it feels. It sounds like you have had a panic attack and I would suggest you go and see the doctor just to rule out anything else.

It could very well be that you have burnt out and need to take a breather - unfortunately us self-employed people often forget about ourselves.

Regarding your situation, hard to as it is to believe there are solutions to your problems and there are some very good, helpful and sympathetic people here.

It is easy to say calm down but do something like go for a run, walk, play a mindless computer game like Tetris for a couple of hours.

Rereading your post - you are not actually insolvent are you? Just as a thought, if the company is running is there anyone in your family who you can pass the directorship over to, or I don't know what market you are in and if the company is viable - sell it.

Bethankim · 24 April 2009 at 9:31AM

Firstly welcome,

Im not sure i can advise, but the symptoms you had sound very much like severe stress. You need to care for your mental health as much as your physical, so perhaps a trip to see your GP may help.

Good luck, im sure others more knowledgeable than me will be a long.

Beth

Tobiwan_Kenobi · 24 April 2009 at 9:44AM

Welcome to the forum, Ziggy. I have been in a similar(ish) situation myself. Unfortunately I'm short of time right now, but will post more in a short while. In the meantime, do as Affluenza has suggested and book an appointment with your doctor! Your health & well-being are paramount in the first instance!

GettingHopeful · 24 April 2009 at 10:21AM

Hi Ziggy, I feel that your health is giving you a wake up call which you have listened to. I know what it is like to feel the responsibility of family and of employees, and probably of clients who have supported you, but it is taking an immense toll on you. In this climate you are breaking even. That's tremendous.

But it does sound to me that now is the time to move on, so once you have seen your doctor and got your breath back so to speak, you need to close your business, either by selling or other means. Not easy but you have done so well up to now,once you start thinking and accepting that this is to be done, I am sure ideas will come to you as to the steps to take and contacts and consultations to make.

You sound so sincere and generous. I know you are thinking how hard it is going to be for your employees, but all you can do is explain to them that you cannot continue. Is it at all possible they might be able to form a co-operative to own and run the business?

You do need to think of your own health and well-being at this point in time. A period working as a car park attendant is what you rightly need. You will bounce back after a while of this refreshed and ready to go, I am convinced.

All the luck in the world xx

Tobiwan_Kenobi · 24 April 2009 at 7:12PM

Ziggy, I hope you've managed to see a doctor about your turn?

As said above, if you're succeeding in breaking even at present you should be very proud! I would suggest, if you wanted a route out, you look at trying to sell your firm as a going concern. You're surviving in a serious downturn and that is very impressive - Buyers will also be impressed. As long as you can obtain a sum that covers your business debts you're clear to get a job doing whatever you want, ideally minus the stress.

From what you have said in your post, BR certainly doesn't sound like a prospect for you.

beentheredonethatstilhere · 24 April 2009 at 7:34PM

Have a chat with Business Debtline and see what they say.

http://www.bdl.org.uk/

Merlinexcalibur · 24 April 2009 at 10:36PM

I could offer conjecture, and that's all it would be, on what happened to you in the supermarket the other day. But ... that would be quite irresponsible of me, and if I said what my 'conjecture' was on what happened, it would worry you even more. So, what I am saying here: GP ASAP.

So_Sad_Angel · 24 April 2009 at 10:59PM

Hi Ziggy,

I`m guessing you know that this is a warning. You are working to maximum capacity & can`t see where more energy is going to come from.

Take the weekend & try & chill. You will almost certainly feel better come Monday but call your GP & book an appointment.....just for a check over & mention the occurance today.

I`ve done 30 years at capacity & then hit the `wall` big time. (Never a day sick & always told Doc that `yeah I`m ok) . Burn out means `take a break`....no-one is indispensible & if you need to make that lifestyle change then my advice is to do it ....before its too late. Get someone from within the Company to manage it while you take a break.

Take care of yourself first. Business has to come second & if you end up in KFC then so be it.....life is not all about what you earn....its about how much you enjoy the ride!!!

Angiexx

So_Sad_Angel · 24 April 2009 at 11:00PM

ooooh forgot to say Welcome!!!!!!:D

GettingHopeful · 25 April 2009 at 10:39AM

Hi Ziggy, getting a bit worried here, how are you bearing up? Please answer us.

Advice please

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