Reddit Warns Burned-Out Denturist: 'Even If You Think You Understand All the Risks, You Probably Don't'

It's good for people to look for additional ways to boost their income. Increasing your earnings gives you more flexibility and can help you retire sooner. 

One burned-out denturist who earns $300,000 per year and owes $1 million on a mortgage is looking to acquire a business that has more than $500,000 in annual profits. While this move can boost the denturist's income, Redditors offered plenty of warnings against business acquisition.

"Even if you think you understand all the risks, you probably don't," one commenter said.

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Commenters offered a few suggestions for the denturist to deal with burnout and look for opportunities to earn more money.

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Identify The Cause Of Your Burnout

One of the top comments came from a Redditor who suggested figuring out the cause of your burnout before jumping into any new ventures. Starting or acquiring a business requires a lot of work, and it's probably the last remedy that you'd consider for solving burnout.

The commenter suggested that travel could be the cause of burnout and encouraged the denturist to look for a similar role that "reduces travel while maintaining similar benefits."

The commenter mentioned that they were burned out and switched jobs to solve the issue. Working for a more stable company with better management support may be worth it, even if you have to take a small pay cut.

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You Can Lose A Lot Of Money If The Acquisition Doesn't Go Well

While one commenter advised the Redditor to identify why they feel burned out, most commenters warned about some of the downsides of acquiring a business. They emphasized how things don't always go smoothly, and a company that is delivering solid profits right now may not do so well in a few years.

Companies that earn $500,000 in annual profits usually reach that milestone because of an effective leader. Acquiring a business may mean losing that leader, and if you don't know how to run a business, your investment can quickly turn sour.

Good business leaders see their companies fall apart due to factors out of their control, and it's even worse for people who are just getting started. One commenter also mentioned that it won't be $500,000 in annual profit since a large portion of those earnings will have to go toward monthly payments toward the loan used to finance the acquisition.

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Start A Business In An Industry That You Know

The denturist specifically wanted to acquire a business in an industry that they didn't know very well. That makes an uphill battle even more challenging, and one commenter came up with a solution.

Instead of acquiring a business in a field that you don't know, the denturist can start a denturist business. The original poster said that they have their own clinic and haven’t put much cash into it. However, the higher income gives the denturist more flexibility with funding the clinic, and that seems to be the new route.

The denturist may have continued to neglect this opportunity if a commenter didn't offer the suggestion. It demonstrates the value of starting a business in your industry instead of acquiring a business in an industry where you have zero experience.

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