Entrepreneurs need support structures

Introduction

Apparently, entrepreneurs are the new Rock Stars. I find this to be a pretty fitting analogy as for every stadium headlining Rock Star, there are thousands of musicians who didn’t make the Big Time. ?In the entrepreneurial world the path to success can also be mentally taxing, for years failure is as close as success and often failure wins the day. This requires a delicate balance between ambition and well-being. For entrepreneurs, it is crucial to recognize and address the mental health challenges that we often face.

What sort of support should entrepreneurs have?

Mentorship and Networking

Entrepreneurs benefit greatly from connecting with mentors who have traversed similar paths. A mentor can provide guidance, share experiences, and offer valuable insights that help in navigating challenges. Additionally, networking with fellow entrepreneurs creates a sense of community, reducing the isolation that can accompany building a business. Sharing stories and advice within a supportive network can serve as a powerful stress reliever. Once the stories start to flow, we realise we all have the same problems, regardless of the industry we are in.

Work-Life Balance

Maintaining a healthy work-life balance is crucial for mental well-being. Entrepreneurs, driven by passion and ambition, may find it challenging to disconnect from their work. Establishing clear boundaries and prioritising personal time is essential. This is not easy. The demands of start up can be relentless. The global nature of business – even Start Ups, means dealing with time zones and early morning/late night calls, tight deadlines, employee issues, tight finances all lead to long hours. Despite all this I highly recommend making time for yourself and for family time. Life is about more that the business!

Wellness Programs

Incorporating wellness programs into the entrepreneurial life can significantly contribute to mental health. These programs may include fitness initiatives, mindfulness practices, and counselling services. Having access to activities that promote physical and mental well-being can help entrepreneurs manage stress and maintain focus. Do what suits you. Could be the gym, could be yoga or walking the dog or ultra marathons, but do something.

Educational Opportunities

Continuous learning is a cornerstone of entrepreneurship. However, the pressure to stay informed and adapt to a rapidly changing business landscape can be overwhelming. Educational opportunities, workshops, and training programs equips entrepreneurs with the knowledge and skills needed to thrive. However, educational opportunities can also mean reading relevant business texts and keeping on top of what is happening in the market/industry. This not only enhances business acumen but also boosts confidence and resilience.

Peer Groups

Aligned with mentors and networking are peer groups. While networking groups tend to be open events, peer groups can be closed events where the same entrepreneurs/business owners meet on a regular basis. Over time, this builds high levels of trust between people in the room and a deeper level of support is achieved.

Conclusion

Being an entrepreneur can be a lonely and stressful road. It doesn’t to be, even of solopreneurs who are literally going it alone. Surround yourself with the supports that are available, talk to like minded people, keep clear time for yourself and time with your family (they are separate things, you need time alone)

For me, I do all of the above. I have a morning Tai Chi practice and I walk every morning before work. I take time for myself every week as well as spending quality time at home. I have a mentor and a coach and am a member of a peer leadership group - Power of Seven that meets for a full day every second month.

Maintaining a work – life balance is not easy. Ironically, you have to work at it. If you don’t, work will take over, that is pretty much guaranteed. As well as being detrimental to you, if you are not on top of your game it is detrimental to the business too.