Lonely at the Top: 4 Steps to Combat Entrepreneurial Isolation

Lonely at the Top: 4 Steps to Combat Entrepreneurial Isolation

Anyone who thinks the phrase “It’s lonely at the top” is a cliché probably doesn’t own a business. Being an entrepreneur can be an extremely lonely endeavor. As your company’s leader, you make decisions every day that can affect the well-being of not only the business but also the people involved: your family, your employees and their families, customers, suppliers, investors and other stakeholders. That’s a lot of pressure for one person to shoulder.

It’s not healthy or wise to carry that burden alone. From the personal perspective, loneliness can cause mental and emotional strain that may manifest as physical symptoms and even disease. From the business perspective, making all of your business decisions alone limits your bandwidth for bringing forth fresh new ideas and strategies. Diversity of thought is vital to making good decisions, developing innovative solutions and growing your business to its full potential.

Don’t just cope — take action!

If you’ve ever had that lonely-at-the-top feeling, read on. These four ideas may help you overcome the challenges of solitude and put you on a path to healthier leadership:

1. Connect with peers.

Why think through every tough issue yourself when there are so many business owners just like you who are open to sharing their experiences and insights? Whether you’re seeking like-minded individuals to support and enhance your own ideas or people who have a totally different perspective who can help you think in exciting new ways, you don’t have to go it alone!

Where do you begin? Join your local chamber. Get active on the social networks where your peers hang out — start conversations, comment on LinkedIn posts, share relevant articles, congratulate others on their achievements, etc. Participate in local business networking events and live trade events. Perhaps most importantly, reach out to your network and conduct an online search to identify a peer advisory group that aligns with your needs for ongoing interaction and support.

As a member of a peer advisory group, you will be part of a give-and-take culture that provides you with a sounding board, brainstorming partners, fresh insights, been-there-done-that anecdotes and more. The diversity of knowledge, expertise and experiences within a peer advisory group can be amazing. You learn from them, they learn from you, and you all learn new things together.

Fellow entrepreneurs have the capacity to understand the business challenges you’re going through in a way your friends or family members may not be able to. They can help you stay true to your vision, ensure that you’re holding yourself accountable for reaching your goals and navigate the emotional strain of running your business.

2. Rely on trusted mentors, coaches and advisors.

Sometimes entrepreneurs feel as if they need to know everything about running their business. Not so. It makes perfect sense to seek the counsel of others who have expertise in areas where you may not, or who can step back and see the big picture of your business more completely and objectively than you can.

Here are three types of people who should be part of your inner circle:

• Mentors are people who have achieved what you are striving to achieve. Mentors give back, either through a formal mentorship program or casual introduction, by extending a hand to the next business owner coming up. You never know where you’ll meet a potential mentor: within your peer group, at a trade event, at a social function, etc. Or maybe you’ve identified someone and just need to introduce yourself and propose the idea of a mentor relationship. Once you’ve secured a mentor, you can agree to regularly scheduled or as-needed meetings.
• Business coaches are paid professionals focused on keeping you on track with your goals and vision. They remind you that you can drive more significant results by working on your business rather than in it and help you strategize the best path forward.
• Professional advisors include accountants, bankers, lawyers and others you rely on for specialized advice. Choose advisors who are knowledgeable and accessible so that you can make well-informed decisions no matter how complex a challenge or opportunity may be.

Your mentors, coaches and advisors may play a role at a specific time in your company’s growth or they may change over the years as you, your business and your business needs evolve.

3. Celebrate your own, and your team’s, achievements.

It’s easy to become consumed in reaching the next, and the next, and the next goal. Take time to bask in the gratification of reaching each of those goals, no matter how small they may seem. For small personal achievements, a quiet, mind-clearing cup of coffee or lunch with a friend may be enough. For larger achievements — you reached your quarterly sales goal or landed that big client — celebrate with your team, to not only recognize those who were instrumental in the achievement of that particular goal but also give yourself and others a well-deserved emotional lift. Remember: You’re a leader, but you’re also part of something bigger.

4. Take care of yourself.

Business owners are notorious for working long hours. That’s not ideal for you or your business. You get tired — burned out. You may not be as pleasant to work with as a well-rested you. And your ability to make good decisions and get things done may be compromised. Research, after all, shows that productivity falls off sharply after 50 hours of work in a week and bottoms out after 55 hours.

You know how important work-life balance is to your employees’ productivity, peace of mind and overall job satisfaction; the same holds true for you. Take time off. Stay connected with your family and friends. Engage in hobbies. Go on vacations. Connect with nature. Sleep! Get medical checkups. Reenergize repeatedly.

Lonely at the top? It can be. But it doesn’t have to be. Make these four actions priorities, and relief is on its way.