Start the New Year Strong – Avoid Entrepreneurial Burnout

Now that 2018 is upon us, it’s time to make good on your resolutions. As an entrepreneur (or soon-to-be business owner), you want your company to succeed. This requires a lot of hard work. It also requires dreaming big. Without those two elements, it’s very difficult to move forward. Unfortunately, being an entrepreneur means having to shoulder a big load. And, that can easily lead to burnout. The passion turns sour. It’s no longer a challenge but a burden. The good news is, it doesn’t have to be a reality.

Make 2018 a Great Year for Your Business

If you want 2018 to be a success for your business, you must avoid certain personality types. Additionally, you’ll have to keep the fire going inside. Entrepreneurs are complex people. They love to dream and can easily leap from one to another. What’s more, they really love to work and work hard. The reward is simply too good a feeling. But, even the hardest workers, the most disciplined business owners can fall victim to burnout.

Being an entrepreneur is no mean task, and definitely isn’t meant for the fainthearted. Entrepreneurs have too much to do and a lot to prove, not just to their competitors, but also themselves. Dealing with the daily challenges and frustrations that come from running a business operations can take a toll on any sane person’s mental and/or physical health. —All Business.com

In fact, this is actually one of the biggest (if not the single biggest challenge) entrepreneurs face. Long weeks with plenty of nighttime hours devoted to work takes its toll. Eventually, you feel less connected to personal relationships. And, strangely enough, less in-tune with your own business.

How to Avoid Entrepreneurial Burnout

Entrepreneurial burnout is a real thing. It’s a trap entrepreneurs unwittingly set for themselves. They don’t even know it’s happening until it’s too late. All of a sudden, there’s little to no reward. Things seem dull and routine — even monotonous. Fortunately, there are ways to avoid entrepreneurial burnout:

  • Avoid falling into a rut. Okay, so one of the biggest challenges to running a business is to set and stay on schedule. But that very strategy can also turn against you. It goes from smart scheduling to rut and does so without warning. Seemingly out of the blue, you feel like you’re just doing the same thing over and over. So, change environments and scenery. And, do so regularly.
  • Schedule regular breaks. Make no mistake about it, both long and short breaks are necessary. You not only need to get out of the office on a daily basis, you need to get away from the office regularly. And, take actual time away from the business. A simple weekend getaway without any work offers amazing refreshment.
  • Stay away from time wasters. You probably fall prey to time wasters. Social media is a great example because it’s so prevalent. Or, it could be constant chit-chat. Whatever wastes your time, identify these and you’ll lessen the burden of feeling unproductive.
  • Always be clear about what you want. Losing focus is a big problem. But, there are simple ways to deal with it. Every day should bring you closer to your next goal. But, if you’re unclear about that end, you don’t know where to begin. So, work with others and be cognizant of where you want to go next.
  • What does it take to succeed as an entrepreneur as quoted by Tony Robbins. I listened to a great interview with Tony Robbins recently, and when asked about the characteristics that it takes to succeed, Tony shared in his interview:
    1. HUNGER … dig deep to successful people, Steve Jobs, Bill Gates, Mark Zuckerberg … you will find that they are HUNGRY to achieve and push beyond the pain
    2. Having a Mission larger than you … your WHY. Why do you do what you do? Pride of ownership, mission, joy, being able to give to our kids and others more than ourselves
    3. You have to become Obsessed with Strategies or a Plan to succeed. For example; if you say you want to enjoy life on the beach and you start running North … you’re going the wrong direction because the beach are South! The right strategy can save you a decade and lots of losses.

How do you avoid burnout? What other things do you use to stay focused and excited? Please share your thoughts and experiences by commenting and joining the conversation!

Interested in learning more about business? Then just visit Waters Business Consulting Group.

Like this article?

Share on Facebook
Share on Twitter
Share on Linkdin
Share on Pinterest

Related Posts

Waters Business Consulting graphic

5 Ways Public Awards Quietly Damage Your Small Business

Everyone enjoys recognition, especially when it’s given publicly. And even more so when it contains a monetary reward. So, it’s only natural that entrepreneurs think these are great ways to show their appreciation. Although this works at the surface level, it can actually do more harm than good. Wait? What? That doesn’t make sense! Well, it does when you look deeper.

Read More »
An image of terrain landscape.

How Pleasant Places Turned Rapid Growth Into 42% Gross Margins

Founded in 1984, Pleasant Places built a reputation as a trusted commercial landscaping provider throughout the Lowcountry region. But rapid growth brings its own problems, and by the time company leadership reached out to Waters Business Consulting Group in 2017, Pleasant Places had grown from $10 million to nearly $18 million in annual revenue in just a few years — without the processes and infrastructure to support it. “I have been working with John Waters for around 8 years,” said Gilly Artigues, President of Pleasant Places. “I did a quick google search for a consultant that could help me and my company navigate through the obstacles we were facing during a period of rapid growth… John Waters called me in less than 2 hours. We spoke on the phone for well over an hour that day. After that, John didn’t rush into trying to get me to sign a contract or pay a fee. Instead, he took the challenges I told him about on our initial phone call and called me back a few days later with an honest take on everything and some ways he thought he could help. He impressed me with not only his knowledge and business experience, but with his genuine desire for my company to be successful.” Growing Fast, But Not Cleanly That kind of growth squeezed Pleasant Places’ profit margins and exposed gaps the company hadn’t needed to worry about at a smaller scale. There was no centralized ERP system to manage workflow, and accountability among the team was inconsistent. Pipeline visibility was murky, making projected growth hard to plan around, and a high cost of capital was eating into cash flow. The company’s mission, vision, and core values weren’t clearly articulated or aligned with ownership, and roles and responsibilities across the team were disorganized — all classic growing pains for a family-owned business scaling past what its original structure was built for. Rebuilding the Business Underneath the Growth Waters Business Consulting Group started by analyzing Pleasant Places’ historical financial trends to build a model for controlling cost of goods sold, margins, and managing breakeven. The company now has significantly higher valuation. That model did double duty — it also gave lending sources the assurance they needed, which led to negotiated reductions in lending fees. From there, the team established systems to track labor hours and materials against budgeted estimates, and reworked the company’s pricing strategy so every estimate was built to hit the gross margins Pleasant Places actually needed. On the people side, the team identified leadership and management gaps in the organizational structure, created position descriptions aligned with a clearer reporting protocol, and helped guide a sensitive transfer of management responsibility from father to son with defined authority and autonomy. A full ERP system implementation — the industry platform Aspire — gave Pleasant Places real-time visibility into work in progress and trending margins for the first time. From $18 Million to Over $36 Million, With Healthier Margins The combination of pricing discipline, cost controls, and regular accountability meetings turned a low gross margin into an average of 42%. With clearer estimates and more confidence in their numbers, Pleasant Places has pursued new projects and maintenance contracts with far more conviction, growing top-line revenue to over $36 million. Beyond the numbers, the organization now has a clearly defined chart of roles and responsibilities, formalized core values and mission, and a stronger employee review process — all of which have improved accountability, culture, and retention. Employee polling reflects that shift directly: workers now see themselves at the company for years to come. The family management transition was completed successfully, lending relationships improved, and net operating income has shown dramatic improvement across the engagement. Growing Fast? Make Sure Your Systems Keep Up Rapid growth is a good problem to have, but only if the business underneath it can support it. If your company’s growth has outpaced its processes, pricing, or leadership structure, a free consultation can help map out the fix. Contact Waters Business Consulting Group to schedule your free consultatio

Read More »

Imagine Selling Your Business…

How Would Your Life Change?

You didn’t start your business just to stay busy—you built it to create freedom, security, and options for yourself and your family. Selling your business can be life-changing, but the real question is whether you’re intentionally building toward that outcome or simply leaving it to chance.

Sign up below for a free consultative session to learn what your business could be worth today and in the future! 

Thank you for your interest in learning what your business is worth. We will be in touch shortly.