Why Most Entrepreneurs Burnout and How To Prevent It?
The answer is easy to communicate and explain, but are you ready to implement it for yourself/ your business?
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Introduction
There are 2 types of business owners in the world
01 - The kind who do everything by themself and then find people to do the work that they find tiring, too strenuous, or out of their area of expertise
02 - The kind who gets everything done by the team.
Today we talk about these 2 business styles and let’s discover what’s the better option of the two
The two options
Depending on your personality, you’ve already understood what kind of an entrepreneur you are (or you would be, if/when you run your business.
The first option sounds really good to those who like to be in control of all aspects of their life including relationships, travel plans, health, food, etc.
If you like being in control, you’d see the merit in the first idea.
It gives you total control in all aspects of your business and you only get people to do what you’re not good at, or something that you’d like to delegate to others.
Imagine if you’re running a retail store, your business would look something like this.
You’d be available at the cash register to connect with all the customers, ask them how their experience was, get to know if the staff member(s) could have done anything differently to serve them better, etc.
You’d delegate roles of stock loading/ reloading to your team members, other miscellaneous tasks like maintenance, accounting will be handed over to specific people in the team, so that you can continue to focus on your business at all times.
On the other hand, the second option of running a business will appeal to someone who wants to set up a business that is being run and managed by professionals/ team members so that they can focus on brand building, business expansion, etc.
In the case of a retail business, if you’re the business owner who chose the second option, you’d visit the store on an occasional basis. The entire store would be run and managed by your team members.
Your role would be to monitor sales, find new products to include in the store, look for new products/ promotions to introduce in the store based on the market trends, data analysis, etc.
In this situation, even if you were to take a month-long vacation, the impact to the business would be negligible or there would be no difference at all.
Which according to you is the business style of your choice?
Which option would you choose for your business?
The only right way to do business
Well, tell me something…. When was the last time you went to a restaurant chain and met the managing director of the business to serve you the order?
Or when was the last time you picked up the phone and spoke to the CEO of the internet service provider if there was a problem with the internet connection at your residence?
Are you getting the drift here?
Business is all about people, processes and policies.
The aforementioned option one is referred to as being “self-employed” in the world of business.
If you’d like to know more about this concept, I’d like to introduce the book The Cashflow Quadrant by Robert Kiyosaki.
If you’re a business owner (or if you wish to start a business sooner than later), and if you feel that getting everything done by yourself is one of the best ways of doing business, I really wish you’d explore the option of finding yourself a business coach/ mentor/ consultant to guide you.
A business is just as weak as the number of tasks being done/ operated/ fulfilled by one person dedicatedly, and the strongest business is the one where every person in the team is the strongest in the pack to fulfil the assigned role and responsibility.
Imagine a restaurant where the owner and the waiter and the chef are the same person vs. your experience of going to a restaurant where one person greets you as you enter the restaurant, one person takes your order, understands your taste and preferences to make recommendations to you, and a chef who prepares your food exactly to your liking.
That’s the most powerful way for me to explain to you the core difference between the two mindset options mentioned at the start of the note.
Conclusion
I know acknowledging, understanding and accepting this change won’t be easy for most people.
However, I can assure you; irrespective of your industry, every business can achieve this level of management expertise.
It all depends on the mindset, intention and will of the owner of the business.
Choose the right option for yourself and avoid burnout. Your business, your loved ones and you yourself deserve better than that.
The real question is, are you open to creating a business that can function like a clockwork even if you don’t operate (read: control) the business at all times?
Your Thoughts!
If you feel you’re absolutely lost or if you feel you need more clarity with your niche/ positioning/ your personal brand/ your content strategy and would like to consult with me for the same, feel free to reach out to me and let’s connect.
If you’ve reached till this point of the post, I’m sure you must have some thoughts/ feelings/ opinions about what you’ve just read.
I’m done sharing what’s on my mind, and now is your turn to share your POV.
Tell me how you are processing the information that you’ve just read?
Do you agree with my thoughts?
Do you think I missed something important?
Do you disagree with something in particular?
Let’s continue this conversation (or ask your questions about the post) in the comments below.
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Prompt used to create the image for the note
P.S.: Image made on Meta AI using the prompt, “Imagine a business owner who is at the beach chilling looking at their phone for sales notifications for the day”