Walking away from a business can feel like failure, but sometimes, it’s the most courageous decision an entrepreneur can make.
I’ve done it. It was painful, humbling and, in the end, necessary. If you’re feeling overwhelmed, burned out or unsure whether to keep going, you’re not alone. Here’s what I learned from shutting down one of my earliest ventures — and what you should know if you’re thinking about doing the same.
It doesn’t matter if you’re running a retail store, a tech startup, a consulting firm or a small service business — the emotional and financial strain of trying to keep things afloat when it’s not working can feel the same.
One of my first businesses was called Winewear Fashions Ltd. The idea came from my parents after a long night entertaining friends. They pitched it to me the next day — a kind of wine cooler they thought had potential. My brother Rob agreed, then promptly disappeared down south. I stayed and built the company from scratch.
I created a prototype, sold shares to family and friends, and hit the road to make it work. For almost two years, I lived off my savings, didn’t take a wage, and tried to keep the lights on. The weight of expectations and obligations wore me down. I prayed a lot. I couldn’t figure out how I’d repay the investors if the company folded.
Eventually, I got lucky. Two buyers saw potential and took it off my hands. I didn’t get the price I hoped for, but I paid back most of what I owed. The business disappeared — and so did the stress.
Looking back, I realize how rare that kind of ending is. Most business owners don’t get a clean exit. And today, walking away is even harder.
Running a business today means navigating more disruption than ever. We’ve come through a global pandemic, faced soaring inflation, dealt with high interest rates, labour shortages, and now the pressure to adopt AI technologies just to stay relevant.
It’s no wonder more and more small business owners are whispering the same question: Is this still worth it?
I’ve heard it over and over again:
“I just want out.”
“If I had a buyer, I’d sell today.”
“I’m burned out, and I don’t know what to do next.”
These aren’t rare complaints: they’re increasingly common among business owners who feel stuck, exhausted and unsure how to escape without losing everything they’ve built — or their sense of identity.
Most entrepreneurs have their savings — and often someone else’s money — tied up in the business. Maybe it’s still technically profitable, but no longer sustainable. It may not excite you anymore, and it may not interest a buyer, either.
Walking away doesn’t always mean closing up shop completely. For some, it means selling, merging, handing things over to someone else, or simply stepping back to reassess. But without a clear plan, it can feel like there’s no way out.
So what do you do when walking away feels like the only option, but there’s no clear path out?
Here are five things you can do right now:
1. Plug the holes
You need to stop the bleeding. Whether it’s poor pricing, runaway costs or declining sales, meet with your accountant or hire a coach who can help stabilize your numbers quickly.
2. Get your team running the show
If you’re micromanaging every detail, your business can’t run without you, and that makes it unsellable. Start delegating and building systems now.
3. Explore new markets
Sometimes your current customers are tapped out. But is there another niche or region that could use what you offer? Buyers want to see future growth — not just past performance.
4. Make a personal plan
Where do you want to go from here, professionally and financially? Whether you’re rebuilding, selling or closing, you need a path forward beyond the business.
5. Know when to shut it down
If you’ve tried everything and it still isn’t working, it’s okay to walk away. That doesn’t mean you failed. It means the business ran its course. You took a risk most people never would. You learned, you grew and you’re still standing.
You don’t have to figure it all out alone. There are more supports available than ever before — online communities, mental health resources, exit-planning specialists, and platforms that help small business owners sell or transition even modest operations.
Shutting down a business is tough. But sometimes, closing the door is the only way to breathe again.
Ending a business doesn’t end your identity. You’re still a builder, a risk-taker and someone with more to offer. And choosing your health, your future and your peace of mind is never the wrong move.
I know. I’ve done it.
David Fuller is a Commercial and Business Realtor with a strong reputation as an award-winning business coach and author. He has extensive experience helping businesses grow and succeed, providing guidance on various aspects of business management, strategy, and development. His work as a business coach and author has earned him recognition in the industry, making him a respected figure in both real estate and business coaching.
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