Business owners burn out. Even successful ones. And not just in tough times.
For those still trying to make it, it can be caused by the inability to switch off, the need to keep all of the plates spinning, to think of everything that needs to be done to get the business growing. It can be, but it almost certainly isn’t.
New business owners have a massive amount of energy and passion which drives them and keeps them going through what can be very tough times.
The reason 8 out of 10 new businesses fail, is rarely owner burnout. It’s because they don’t bring in support early enough.
They reach the no-mans-land between ‘can I afford to?’ and ‘can I afford not to?’ and too often fail to take that essential leap of faith.
They don’t develop systems because they’re doing everything themselves, so who needs systems?
They don’t know their customers well enough so they build a business around what they can do, versus what their customers want or need?
No. The business owners who burn out are already successful. Their passion and drive saw them grow their business, hire a team, build a solid customer base.
These business owners burnout because they get stuck in what Daniel Priestley (Author: ‘Oversubscribed’) calls The Struggle Zone…and they fall in love with that struggle. They forget why they’re doing what they’re doing. They focus on the day to day. They work harder and harder. Nose to the grindstone. Hamster on the wheel.
They lose their drive, lose their passion, lose their energy.
These business owners do try to fight their way out. They get up earlier and earlier to meditate, to give themselves ‘me time’, to ready themselves for the onslaught of the day – but fail to go to bed earlier to compensate for the reduced sleep. They hire a team – but then don’t trust them to do anything without checking up on them. They buy a juicer.
What they don’t do is slow down. Stop. Think. Plan their way out. Slow down to go faster.
If this is you, or you think you might be heading this way, invest the time to do these 7 ‘re-invigorators’:
1. Sit down and think about your ‘Why’ – what it’s really all for – what your vision of success looks like.
2. Get YOUR priorities sorted – those things that are really important to you – would still be important if the world was going to end in 5 years’ time. And ditch everything else, particularly other people’s priorities that are eating up your energy.
3. Look after yourself…properly! Sleep, eat, exercise (even if it’s just a walk round the block), make time to do absolutely nothing, take your holidays.
4. Plan. Properly. Have your 10 year vision. Know where you need to be in 3 years, 1 year, next quarter, in order to achieve that vision.
5. Develop routines – daily, monthly, quarterly. Become conscious of them. Write them down. Record how you do routine tasks ie develop them into processes!
6. Have people around you who are truly on your team, fully in the game with you. Give them simple, logical and repeatable systems to work with, and TRUST them to help you build your business.
7. Challenge yourself to have more fun. Challenge what you’re doing and why, every single day, until looking after you becomes a habit that is hard to break.
Some people never emerge from the struggle zone – spend their whole business lives there. Do not let that be YOU!
Want some help in getting to grips with all of this? Keen to plan your way out of the struggle zone, but don’t know where to start? Then get in touch. Call me today on 0203 189 1707 and I’ll happily talk through your options and help you develop a practical, workable strategy. Don’t put it off. Call today. You really have nothing to lose.