Should I sell my company?

[DrShephardWannabe]

So I'm the CEO/Founder of a non profit organization that benefits cancer patients and research (Keeping it brief for anonymity.) I've been offered a small amount of money for it, but that's irrelevant. What I'm wondering is, should I sell it to be able to pursue further clinical/medical EC's? I enjoy the company, and I feel it is a way to set myself apart from other applicants as I'd imagine not many have business minors and their own company. But it is extremely time consuming. My life is basically school (And only 12-14 credit semesters because I'm trying to maintain my GPA) and my business now, and I can't fit in anymore EC's.

My current EC's:
Clinical volunteering:
200 hours doing vitals/drug tests at a clinic
Shadowing:
80 hours in FM
10 hours in cardiothoracic surgery
Volunteering:
200 hours feeding homeless spread over two years
~100 misc. hours done through fraternity
Leadership/work:
300 hours of bartending Freshman year during school
~1500 hours serving in a restaurant. Mostly done during breaks.
Officer position in premed org for a year
Active member of service fraternity

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Members don't see this ad.

 

[Theafoni]

Could you sell them a certain percentage? Maybe hire someone -- perhaps a partner to take over things while you focus on school

 

[Catalystik]

So I'm the CEO/Founder of a non profit organization that benefits cancer patients and research (Keeping it brief for anonymity.) I've been offered a small amount of money for it, but that's irrelevant. What I'm wondering is, should I sell it to be able to pursue further clinical/medical EC's? I enjoy the company, and I feel it is a way to set myself apart from other applicants as I'd imagine not many have business minors and their own company. But it is extremely time consuming. My life is basically school (And only 12-14 credit semesters because I'm trying to maintain my GPA) and my business now, and I can't fit in anymore EC's.

My current EC's:
Clinical volunteering:
200 hours doing vitals/drug tests at a clinic
Shadowing:
80 hours in FM
10 hours in cardiothoracic surgery
Volunteering:
200 hours feeding homeless spread over two years
~100 misc. hours done through fraternity
Leadership/work:
300 hours of bartending Freshman year during school
~1500 hours serving in a restaurant. Mostly done during breaks.
Officer position in premed org for a year
Active member of service fraternity

Would the value of the buy-out exceed the potential benefit to having this EC be current on your residency application? That said, I realize you're saying the main drawback to keeping it is the time sink it entails, but Leaders don't just come up with great ideas and get the ball rolling, they also delegate, create committees, and precipitate growth. Is there some reason you don't wish to allow others to help?

 

[DrShephardWannabe]

Would the value of the buy-out exceed the potential benefit to having this EC be current on your residency application? That said, I realize you're saying the main drawback to keeping it is the time sink it entails, but Leaders don't just come up with great ideas and get the ball rolling, they also delegate, create committees, and precipitate growth. Is there some reason you don't wish to allow others to help?

In my opinion no, the monetary value is very minuscule. As a non-profit we have an extremely small profit margin delegated to employees and not many people would be interested in the work load required for the compensation we can provide. All of the current employees are extremely close friends from my fraternity and are in it regardless of whether we make profit or not. We are starting to grow faster than expected and I'm not sure how much more business we can accept without sacrificing quality.

With that said I hadn't considered the possibility of not simply accepting new clients. That's an option I will now consider.

Also just as a side note: I am planning on promoting the VP and leaving the company if I matriculate to medical school. Not sure if that would effect the residency applications as you mentioned.

 

[Catalystik]

I am planning on promoting the VP and leaving the company if I matriculate to medical school. Not sure if that would effect the residency applications as you mentioned.

The longer you remain involved, the better. Why not promote him now, but remain on the Advisory Board (or equivalent) to keep your finger in the pie, while freeing up time you need for other activities?

 

[Rainbow Zebra]

In my opinion no, the monetary value is very minuscule. As a non-profit we have an extremely small profit margin delegated to employees and not many people would be interested in the work load required for the compensation we can provide. All of the current employees are extremely close friends from my fraternity and are in it regardless of whether we make profit or not. We are starting to grow faster than expected and I'm not sure how much more business we can accept without sacrificing quality.

With that said I hadn't considered the possibility of not simply accepting new clients. That's an option I will now consider.

Also just as a side note: I am planning on promoting the VP and leaving the company if I matriculate to medical school. Not sure if that would effect the residency applications as you mentioned.

If you sell it, it shows you truly created a thing that has extrinsic value to others. That alone may be worth it. Seems folks "found" a lot of non-profits, but this sounds like it has some legs to it.