The realities of closing a business and starting again.
These special footnote episodes are additional to our usual Journals, as we open up the discussion on a particular topic faced by creatives caring their own path.
Even though this episode seems like the perfect start, it’s also a slightly unusual start as we are discussing the very end of a business, and open up on the realities of closing a successful business. More so, when is it right to push through when you feel that niggle to give it up, or do you follow your gut and close when the passion and energy for the business fades.
If you managed to catch the last episode, you would have heard my chat with Lucy Elliott, and how she ditched the London life to grow a large-scale chocolate business, Creighton’s Chocolaterie.
Even though that was only recorded at Christmas last year, things have changed quite dramatically for Lucy.
I won’t go into the specifics now, as you’ll hear all about it in the episode, but the conversation went beyond the actual aspects of closing a company down. We discuss that horrible niggling feeling when the passion starts to die; when the fun creative elements of a business turn into business realities of balancing the books, paying those massive VAT bills; and the constant pressure to evolve and stay relevant.
These feelings come and go in all of us, but when do you know when it’s time to make a change?
We also discuss why there is SUCH a huge pressure on the self-employed to keep going. Why is closing a business always seen as negative? It doesn’t always mean the business is failing, it might just mean that you want to change, to pivot, and to explore your options as you move into different stages of your life.
I am so grateful for Lucy’s honesty during this chat. We cover so many important topics that many, if not all of us face, and really open up on making these big decisions.
I must add, this is not a negative episode, even if we do have a good rant at times. It’s about listening to your own intuition, really reflecting and making the best decision for you. Also taking away the element that closing a business doesn’t mean your business hasn’t been successful, far from it in Lucy’s case.
Lucy has now pivoted the business and returned to her roots, by setting up a design company to support other businesses. She’s also in the process of creating a book to help those looking to start a food business. We know it’s going to be as beautiful as it is valuable.
Let me know what you think, I’d love to know if you’ve encountered any of these feelings in your journey.