Over the last decade, people have glorified the entrepreneurial life. Whether it's the lure of living the laptop lifestyle or it's the notion that you have the ability to earn as much money as you want; launching your own business can be tempting.
And while being your own boss can have its benefits, there are also several dark sides to entrepreneurship that's rarely discussed -- the lifestyle of an entrepreneur can take a toll on your psychological well-being.
My curiosity in entrepreneurs' mental health was, unsurprisingly, influenced by my personal history. A decade-plus-long battle with anxiety and depression led me to want to better understand how the activities of entrepreneurship can sometimes cause suffering and affect your psychological well-being.
Despite its glamorization, entrepreneurship is negatively correlated with mental health. Few entrepreneurs are talking about their mental health issues, however. But studies show the demands of business ownership places people at...
Do you have trouble achieving goals? Do you start things but rarely, if ever, finish them?
What is stopping you? If you think about it, probably only you, maybe you’re scared, maybe you lack confidence.
The one word that stops most of us from achieving our highest level of success is "excuses."
As humans, we are fantastic at picking from a wide range of excuses to limit our capabilities. This is in all areas of our lives, from going to the gym to starting the new business.
If we’re ready to reach new heights in all areas of our lives and achieve our goals, then we have to STOP making excuses!
So why do we make excuses in the first place? There are many reasons why people make excuses. In fact, everyone has a variety of reasons for making them. However, we mostly only make excuses for the following key reasons:
Entrepreneurship is no walk in the park. As a new entrepreneur gearing up to start a business or a business owner who’s recently opened your doors, there’s a lot of uncertainty ahead of you. Business failure isn't something you want to think about when you start a business. But according to the SBA, about one-fifth of business startups fail within a year.
Here are the top seven reasons for business failure and what you can do to avoid them.
Businesses fail because of the lack of short-term and long-term planning. Your plan should include where your business will be in the next few months to the next few years. Include measurable goals and results. The right plan will include specific to-do lists with dates and deadlines.
Failing to plan can be a major business fail.
" If you don’t prepare a business plan, your initial enthusiasm will fade and most likely you will fail."
There are many people...
Delegation doesn't come naturally for many entrepreneurs. When you build and lead a business, you’ll be wearing many hats. You’ll have to play the role of a salesperson, an innovator, a financial manager and leader while you still have to deal with routine micro-tasks throughout the day. It can be fun at first, but eventually, this will start eating away at you.
Why Delegate? One person, or even two or three people, simply cannot shoulder the load of all the tasks that go into keeping a small business thriving, and trying to carry the world on your shoulders isn’t good for you or your bottom line.
Three years ago, my business was growing drastically, but I was afraid to delegate projects to my contractors and team members. Honestly, I was afraid that the task would not be done to my liking (talk about control issues).
Though I wanted to hold on tight to every project in my business, in order for me to succeed and grow my business without losing my mind, I...
One of the questions I get asked the most having founded 4 profitable start-ups is what are the most important factors in building and launching a start-up. So I decided to break it down here in no particular order:
As long as consumers have problems, they will always search for solutions. People will always look for better, faster and smarter ways to accomplish everyday tasks. And fortunately for entrepreneurs, there are still lots of rooms for improvements in existing products. That said, the biggest issue for most founders is finding these painful problems and matching them with the best solutions possible.
To solve a problem, you don't need to reinvent the wheel... Maybe you improve or solve the pain point in a different way.
Need help with a business idea? Check out https://www.trendhunter.com/
Building an audience BEFORE you launch is something that I’ve done for...
Many entrepreneurs experience the unwanted emotion lurking, just waiting to rise to the surface to override our hard work. It’s an ugly feeling that impacts the best of us from time to time. If you allow it, this unwelcome emotion can completely derail your mental and emotional strength, bringing your business to a paralyzing halt (Trust me, I've experienced it one too many times).
So, you’ve done well for yourself. Taking a quick glance at your experience and looking at that long list of accomplishments. All signs point towards success. You look good on paper.
Accomplished. A proven authority. However, there’s this tightness in the chest that hints at an entirely different conclusion. It even causes you to start questioning yourself because you're worried that others will think you are a fraud.
Are you sitting there reading this silently, nodding your head in agreement? I know right?!
The term Imposter Syndrome was coined and introduced to the world in...
Whether you’re already in business or preparing to start a business, it takes hard work, tenacity, and drive to achieve a high level of success.
According to Elizabeth Wilson of Entrepreneur Magazine, while some 40 million businesses are started each year, a paltry 350,000 break out of the pack and begin growing and making money. So how can a small business owner overcome some of the common business pitfalls?
Author Craig Ballantyne who is a productivity and fitness guru and the inventor of the Turbulence training workout program shared his 5 pillars of success that has changed the lives of more than 500,000 individuals.
These five pillars are the same things that allowed me to overcome anxiety and stress in my own business.
1. Better planning and preparation than ever before: You can't just say that you want to achieve a goal; it’s essential to put together a detailed plan.
2. Professional accountability: Research shows that when you’re accountable to a...
I’m pleased to announce that The Corporate Misfit Club is officially open. My team and I have been working on it for months, and I am so excited to be able to share it with you.
I know how confusing and overwhelming this whole entrepreneurial journey can be.
You may feel like you want to give up trying to make things work, yet you’re still not getting the results you want.
You’ve got the feeling that if you were focused on the RIGHT steps, you’d be golden - but with all the advice out there… you don’t know which information to take in.
I want to know... What would a profitable and impactful business make possible for you?
YOU NO LONGER HAVE TO DO THIS ALONE!
I want to encourage you to check out The Corporate Misfit Club:
Being an entrepreneur is the American dream. It’s all about defining your success, paving your way, and living life the way you want. Many of us walked out of stable and comfortable jobs because we no longer wanted to be in the rat race fueling our former employers' dreams.
Though this seems like the dream. Sometimes there are days when you can't find the motivation to keep moving forward. Maybe you're a new entrepreneur struggling to stay focused and organized. Or maybe you've been doing this thing for a while but hit some bumps in the road.
Either way, as an entrepreneur, it's easy to lose motivation. The key is to not give up and to find ways to pick yourself back up on those long and grueling days.
To help you avoid giving up, burn out, and overwhelm, try these 5 practices:
It’s important to constantly revisit the reason why you started your business. Make sure it’s still engaging. Decide if it needs to be altered or amended. Reflect on...
While quitting your day job to pursue full-time entrepreneurship seems like #TheDream, it’s not nearly as glam once you take the leap. In most cases, resigning is an exciting but scary experience.
Regular employment provides more than just a regular paycheck. It provides a network of relationships and opportunities. Fortunately, you don’t have to give those things up.
By resigning professionally, you can make sure you don’t close any doors or sour any relationships. In this post, I'll cover how to do just that.
Resigning from your job, especially a good one, isn’t a decision to make suddenly. Many people spend years building their business on the side before taking the leap. Only you know when you’re ready to leave your full-time job behind.
Before you take the plunge, there are a few things to consider.
First, do you have a plan?
No, not just a strategic business and marketing plan, although...