Knowing When To Close A Business

I plan to close
my romance novel writing business
when
the pre-order sales
for my stories
no longer cover their production expenses.

Based on the current
downward sales trajectory,
that will happen
in roughly three years.

I’m planning for that closure.

I’m writing the books
readers have requested.
I’m wrapping up series.
I’m setting up income streams
so they continue
without much involvement
from me.

If something unexpected happens
and my sales recover,
of course,
I’ll continue the business.

But, as of today,
I am planning to close it

Knowing I’m ending this stage
of my life
is sad
but it is also powerful.
I’m in control
of my business’ closure,
of the process.
It will be a good end
to a great business life cycle.

Decide now
when you’ll close/sell your business.

Build toward that closure.
And embrace
the fresh new start
that will follow it.

Missing Snow Crabs And Being Current In Your Industry

It was announced
that billions of snow crabs
have gone ‘missing’
causing the ‘harvest’
to be canceled
for the first time ever.

Coverage seems
to imply the disappearance
is a great mystery.

It isn’t a mystery
and it wasn’t a surprise.

The Canadian government
released a report
years ago
talking about how
snow crabs
(and eventually lobsters)
won’t be a viable industry
as the oceans warm
and become more acidic.

They suggested
businesses in the industry
look for alternative sources
of income.

Anyone who remained current
in the snow crab industry
(which includes restaurants serving
snow crabs,
the tiny tourist places
that sell
snow crab-themed products,
etc.)
knew this day was coming.
They would have prepared
for it.

Ensure you or someone on your team
reads the reports
involving your industry.

That information
could save your business.