Being an entrepreneur is both fulfilling and draining. It requires hard work to turn your vision into a tangible achievement. The combination of uncertainty, financial pressure and significant risk can leave you feeling overwhelmed and fatigued.
This link between entrepreneurship and mental health can be seen in data from the International Coaching Federation’s (ICF) 2024 Coaching Snapshot: Coaching and Mental Well-Being. The report found that business or career concerns are the most commonly mentioned reasons coaching clients seek help with their mental health. It’s critical to manage burnout before it gets out of hand. Making proactive decisions will not only preserve health but also ignite the fire that makes us successful.
Here are four practical strategies to support entrepreneurs in achieving personal and professional success while safeguarding their well-being.
Related: How Following These 5 Practices Saved My Mental Health
1. Reaffirm realistic goals
In order to achieve their goals, entrepreneurs love to plan and visualize what they want to accomplish. What will the company look like in one year? What will it look like in three years? What do you think is the way that the company will be successful? However, these grand visions can also create a lot of pressure as well. It may be useful to set some more achievable intermediate targets though.
To accomplish this, consider the small, consistent actions that will accrue to reaching your big-picture goal. Then, try setting manageable weekly or daily targets. Setting these concrete steps toward your dream will enable you to feel more motivated and productive in your day-to-day work.
2. Trust your team and delegate
It is not always easy to detach from the management of daily activities that you are used to. However, your team doesn’t need you to do the tasks they can do — they need you to lead!
As an entrepreneur, you should build a strong and competent team that you can rely on and feel confident about. So, don’t let micromanaging get you down in the weeds. Instead, allow your team members to step up and solve problems their own way. Entrepreneurs who implement a coach approach in their leadership style will increase team motivation, morale and overall productivity.
Do not think that the team is already overburdened and you are depriving them of opportunities — they may want to try it out!
Related: How Trusting Your Employees Leads to Long-Term Business Success
3. Protect your energy for the long haul
There are instances when the line between business and personal life becomes quite faint as an entrepreneur. There will be some days when you will have to work long hours. But when that happens, just reset by taking a step back — go on a vacation or give yourself some time to rest. View it as an investment, an investment in yourself and your business. That’s not just for tomorrow or the next day but for the years to come as your business continues to expand.
It is important to note that you are establishing such practices not only for your benefit but also for the benefit of your team. When you close your computer and take time to recharge, you are showing your team it’s okay for them to do so, too. This contributes to a culture that invests in not just the company but also the people who power it. If you’re unsure of how to set these boundaries, working with a coach can help.
4. Create your personal board of directors
It can be lonely at the top, and entrepreneurs often feel they face their challenges alone since they have no peers within their own company. However, family, friends or peers can be a good source of information, inspiration and encouragement to help you deal with issues that you may encounter in the course of your career.
Related: How to Escape Entrepreneurial Burnout When You Can’t Quit
Perhaps, for me, the biggest lesson from the ICF Coaching and Mental Well-Being Snapshot was that, although mental health struggles are common, we can all make changes in order to find the peace of mind that we deserve — including entrepreneurs. Mindfulness, visualization or meditation and social interaction were known to increase resilience and enable individuals to learn from each other. A coach can help you use these practices to stay on track.
To a lot of business owners, it feels like everything’s all on you 24/7, and you just don’t have time (or space) in the midst of it all to take care of yourself. But when you do, you’ll be stronger for the rigors of the job, ready for the accomplishments, and ready to face the process through every turn.
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