America’s young entrepreneurs are more ambitious than ever. Fortune magazine reports that three quarters of millennial business leaders are expecting profit rises in the coming year. Therefore, it’s clear that working for yourself and having a bold, independent vision on everything, from growth strategy to good financial planning is becoming more popular among the young than ever. But it’s not all good news: as well as enjoying great success, some millennial entrepreneurs are also finding themselves going through mental health problems too.
To become a millennial entrepreneur, it’s likely that some form of self sacrifice has taken place. Maybe it was a removal from teenage social events, or maybe it was a lack of focus at school in order to put energy into the business. In turn, these scenarios can lead to feelings of isolation, guilt and even loneliness. Here’s how young business leaders can overcome these problems and live enjoyable, satisfying lives both personally and professionally.
Carve out time for others
While it may seem difficult in the time-pressured world of the “hustle”, setting aside even just an hour or two a week to spend quality time with friends and family is vital. See it as an investment in your future: you may be loving your work now, but in the future you may become tired of it – and you’ll need people around you when that happens. You never know – you may even find an associate or future colleague at a social event.
Overcome worries about networking
High levels of competitiveness in many entrepreneurial industries can result in young entrepreneurs feeling like spending time with others in the same boat is a commercial risk. But it doesn’t have to be that way. Setting up events with others who work in slightly different industries but are in the same position as you can be a godsend. That way, there’s no risk you’ll give away sensitive information, but you can still swap stories and perspectives. And if you’re struggling to find like-minded people, follow the advice of David Moody (who blogs as “Startup Dad”) and look to state-wide associations and national organisations.
Do team events you’ll enjoy
If you’re single minded and independently spirited, it may take you a while to convince yourself of the value of organizing or joining in a team event for other young entrepreneurs. This means that once you’ve got there you shouldn’t jeopardize your motivation by arranging something you know you won’t enjoy! When you make your list of ideas for team building events, you should only include those activities you know you’ll be good at and want to do – and whether that’s outdoor sports or indoor puzzle solving, stick to your heart.
Entrepreneurship can bring with it all sorts of highs and lows, and if you’re younger then there’s a special set of problems that can emerge. One of these is loneliness, and sometimes it seems like an inevitable way of being. It doesn’t have to be this way, though, and by following the tips set out here you can find a balance that works for you and keeps you happy.