More people than ever are diving into the world of developing small or micro businesses to work themselves out of their 9-5 or just to keep financially afloat with rising costs. And technology has never made this endeavor more accessible than now.
It can be very exciting to build a business and work for yourself, but there’s a common misconception that success is solely driven by an awesome mindset and relentless hustle & drive. While these qualities are undoubtedly important, it’s just not that simple. There are so many aspects of running your own business that involve difficult emotions, difficult conversations, and difficult actions. Often, entrepreneurs and side hustlers, especially those working alone, overlook their needs for support.
The Hidden Struggles of Entrepreneurship
Entrepreneurship is often romanticized as the ultimate path to freedom and fulfillment. The reality, however, can be far more complex. The pressures of building a business or side hustle can lead to significant mental health challenges:
- Stress and Anxiety: The constant need to perform, meet deadlines, and achieve goals can result in overwhelming stress and anxiety. Financial uncertainties, market fluctuations, and the fear of failure only add to this burden.
- Isolation: Many entrepreneurs work in isolation, especially in the early stages. The lack of a supportive work environment and the solitary nature of the work can lead to feelings of loneliness and isolation.
- Fear of Criticism: In combination with feeling isolated, we are also marketing ourselves often in social media contexts because that’s how you can make sales and get new business. But, this is one of the toughest (and most isolating) spaces where I find some of my clients getting stuck. The fear of criticism is real and yet we all feel pretty passionately about moving our business forward.
- Burnout: The hustle culture promotes working around the clock, often at the expense of personal well-being. This relentless pace can lead to burnout, characterized by exhaustion, cynicism, and a decline in performance.
Why Mental Health Support Matters
Taking care of your mental health is not just a personal need; it’s a business imperative. Here’s why:
- Sustainable Success: Maintaining good mental health allows for sustained productivity and creativity. It helps in making clear, strategic decisions rather than impulsive, stress-driven ones.
- Resilience: Entrepreneurs face numerous setbacks. Mental health support equips you with the tools to build resilience, helping you manage the anxiety that is bound to come up, bounce back from failures, and continue pushing forward.
Work-Life Balance: This phrase is just not my favorite, so I’m going to call this “Putting Work Down” While it is important to prioritize mental health so that one can detect when work is seeping into every tiny space in your life, it’s also about understanding what you value outside of your work. This is a bigger journey to understanding your values and living life in accordance with those values.
The Role of Career and Business Development Support
Beyond mental health support, career and business development support are vital for entrepreneurs and side hustlers. Here’s how they can help:
- Clarity and Direction: Career coaching helps you gain clarity about your goals, values, and strengths. It provides a structured approach to navigating the often chaotic journey of entrepreneurship.
- Skill Development: Business development support offers guidance on essential skills like marketing, finance, and operations. It helps you build a robust foundation for your venture.
- Networking and Opportunities: Career and business development support connect you with mentors, peers, and industry experts. These networks open doors to new opportunities, collaborations, and partnerships.
Financial Benefits: Advocating for Raises and Finding Better Opportunities
Entrepreneurs and side hustlers often struggle with financial stability. Career support can play a significant role in this aspect:
- Advocating for Raises: Career coaching teaches you how to effectively communicate your value and negotiate better compensation, whether in a side hustle or a full-time job.
- Finding Better Opportunities: Business development support helps identify and seize opportunities for growth, diversification, and increased revenue streams. This might include finding better-paying clients, expanding services, or even pivoting to more lucrative markets.
Boundary Setting and Self-Advocacy
Maintaining boundaries and advocating for yourself are critical skills for any entrepreneur:
- Setting Boundaries: Learning to set healthy boundaries prevents burnout and ensures that you have time for self-care and personal life. It helps in managing workload and avoiding overcommitment.
- Self-Advocacy: Being able to advocate for your needs, whether it’s for fair compensation, workload distribution, or personal time, is essential. This skill is crucial in negotiations, partnerships, and even in managing client expectations.
Developing Career Clarity and Self-Branding
Entrepreneurs must be clear about their career paths and how they present themselves to the world:
- Career Clarity: Understanding your career goals and how they align with your entrepreneurial journey provides direction and focus. It helps in setting realistic and achievable milestones.
- Self-Branding: Effective self-branding distinguishes you in a crowded market. It involves defining and communicating your unique value proposition, building a strong personal brand, and leveraging it to attract opportunities.
Recovering from Burnout
Burnout is a common issue among entrepreneurs. Recovery requires a holistic approach:
- Recognizing Burnout: The first step is acknowledging the signs of burnout—exhaustion, detachment, and reduced performance.
- Rest and Recovery: Taking deliberate breaks, engaging in activities that rejuvenate you, and seeking professional help if needed are crucial steps in recovery.
- Building Resilience: Long-term recovery involves building resilience through mental health support, setting realistic goals, and fostering a supportive network.
Final Thoughts
Entrepreneurship and side hustles are demanding yet rewarding paths. To truly thrive, it’s essential to prioritize mental health, seek career and business development support, and equip yourself with the tools for sustained success. Remember, your well-being is the foundation upon which your entrepreneurial dreams are built. By investing energetically in yourself, you’re ensuring that you can navigate the challenges, seize the opportunities, and achieve the fulfilling career and life you envision.