The Loneliness of Business Ownership

Jul 25, 2024 | Business Coaching, Personal Development

Another thing no-one tells you about starting a business!

When embarking on the journey of starting your own business, it’s unlikely that anyone said to you “It can be quite lonely running a business you know”.  We tend instead to focus on the vision, the goals and the independence of working for yourself and not having to answer to a boss or make someone else rich!  Yet, many entrepreneurs find that this journey can in fact be quite lonely and isolating. If you’re feeling this way, know that you’re not alone. As a coach who has worked with numerous business owners, I understand the emotional toll that running a business can take and the aim of this article to is help you find ways to navigate this challenging aspect of business ownership.

 

 

The Loneliness of Leadership

When you’re running a business, the weight of every decision falls solely on your shoulders. From financial worries to staffing challenges, you alone handle all the stress. Unlike in an employed role, where you can share your burdens with colleagues or supervisors, being the boss usually means facing these challenges alone. 

If you employ staff, you might feel like you can’t share your true concerns with your team, as it might undermine their confidence in you. Discussing these worries with friends or family can sometimes be difficult, too, as they may not fully grasp the complexities of your situation, or they may be directly impacted by the financial success of your company, so you don’t want to worry them unduly. Having to deal with all these worries alone can become a breeding ground for self-doubt and anxiety.

The Emotional Impact

This loneliness can manifest in various ways. You might find yourself working late in the evening, struggling to switch off, missing out on social events and holidays due to the demands of being a business owner, or feeling disconnected from your loved ones. The bottomless pit that is running a business can lead to burnout.  Your passion for your business might be affected, or you’re left feeling exhausted and unmotivated.

It’s important to recognise that these feelings are not only valid, butcommon. I haven’t met a business owner yet who hasn’t experienced some degree of this emotional rollercoaster, and acknowledging it is the first step towards feeling better.

Finding Connection and Support

The simplest way of easing the loneliness of running a business, is to find connection and support.  Here are some suggestions of how you can do that.

Build a Support NetworkSeek out other business owners who understand your struggles. For me personally, I wouldn’t be without my local networking group WIBN.  Look for networking events local to you, ideally ones that will attract similar size businesses to yours, so you can find like minded individuals.  Alternatively, industry conferences and online communities can be great places to meet people in similar situations. These connections can provide invaluable support, advice, and friendship.

Mentorship and Coaching: A mentor or coach like myself can offer guidance, share their experiences, and hold space for you to let go of all your feelings, by providing a non-judgemental listening ear.  Some of my clients have jokingly referred to me as their Business Therapist as they have valued having someone with whom they feel comfortable to off-load the stress and strain of running a business!  Plus having someone in your corner who understands the highs and lows of running a business can be incredibly reassuring. They can help you navigate challenges and celebrate your successes.

Open Communication: Don’t be afraid to talk to your team about some of the challenges your business faces.  Framed in the right way, your team can offer fresh perspectives and solutions that you might not have considered.  Discuss your goals and vision too, to ensure everyone is on the same page.

Self-Care and Boundaries: Be clear with yourself regarding when you are working and when you are not working.  It’s likely that times will arise which require more for your time and energy than the average week, but be sure to organise things so that this is the exception, not the rule.  At the times when things are really busy, still dedicate a few minutes each day to a little bit of self care.  Even if it is just 5 minutes of mindful breathing.  This will help you to feel more regulated emotionally and better equip you to deal with the challenges that you face.

Professional Help: If feelings of loneliness and isolation are overwhelming, consider seeking help from a mental health professional. Therapy, coaching or counseling can provide a safe space to explore these emotions and develop strategies to cope with them.

Embracing the Journey

While running a business is undoubtedly challenging, but it’s also incredibly rewarding – and us business owners are never twiddling our thumbs with nothing to do!  It’s important to get a healthy balance between the demands of your business and your emotional well-being.  Why not start by acknowledging the loneliness that can come with leadership and take proactive steps to address it?  

Remember, it’s okay to ask for help, whether that is formally from a coach, or informally from friends and family. You don’t have to navigate this journey alone. Surround yourself with supportive people, outsource the things that don’t have to be done by you and free yourself up to take care of yourself and have some more fun.  By doing so, you’ll not only become a better business owner but also ensure that your business journey is a fulfilling and enjoyable one.

You are not alone. There are countless others who understand your journey and are ready to support you. Let’s walk this path together.  If the idea of coaching appeals to you, I offer a free discovery call – which is a chance to get to know one another and test the water, with no obligation.  Just get in touch to book, or use the link below.  Coaching sessions start at £80 ph with options to bulk book for a small discount.