An entrepreneur is someone who works 23 hours a day for themselves to avoid working one hour a day for someone else.
If you’re working for yourself, you know that this is one of those jokes that we all laugh at, and shake our heads over, because it’s so (unfortunately) true. Adapting to the workflow and emotional changes that come when you transition to entrepreneurship are difficult for just about everyone.
Related: 5 Tips for a Happy Entrepreneurial Life
Why is that the case? Because the stakes are higher working for yourself. You probably got into this because of some kind of personal passion. It’s no longer about someone else’s vision. Everything will bear your name and, ultimately, there is no corporate entity issuing apologies through its legal team if there’s a big mess-up. It’ll be you.
Like many entrepreneurs, I learned the hard way that when I focused solely on making money so I could pay the bills, I was miserable. It felt like I was constantly failing. It took time before I realized adapting to the lifestyle changes of entrepreneurship requires far, far more than keeping track of admin tasks or booking clients. Here are five ways to avoid the common pitfalls that create entrepreneurial stress and burn-out, especially in the earliest years when things are new and uncertain.
1. Base your success metrics on what truly matters in your business. When you ask someone what it takes to create a successful business, they’ll often say things like “money” or “time.” Most entrepreneurs would feel more successful, day-to-day, if they used a different metric of success: fulfillment.
Make your first priority feeling fulfilled by how you're spending your time. Aim for for the feeling of "fulfillment" over metrics that are inevitably going to come and go, such as money. Start by asking yourself, as you’re sitting down to each meal: “Is this fulfilling?” If it’s not, inquire within: “Why not? What do I need to shift?”
2. Make time each week for studying other people’s models, and then adapt to do it your own way. I spent a lot of time doing things the way I thought I “had to” because I thought that someone else’s way would automatically transfer to me. It takes time to figure out that when someone shares a path to business success, they’re really sharing what worked for them. There are bound to be some good takeaways, but you’ve always got to map out your own blueprint.
There are no shortcuts. Study the success stories. Emulate their frameworks. Modify as necessary.
Related: Managing the Stress of Starting Your Own Business
3. Remember that you’re being of service. Working for yourself, it’s easy to quickly get hung up on cash flow. That invites all sorts of comparisons when our bank accounts are stagnant.