Entrepreneurial Spirit or Stress

High energy and optimism drive entrepreneurs to overcome the daily challenges of starting and running a business.  It is drawn from the spirit of achievement.  A belief in winning.  The achiever reflects on the vision supplanted in the back of their mind that reminds them they can do it.  Entrepreneurial spirit motivates. Unfortunately, entrepreneurial stress can be harmful.

Often times I see business owners who fight gallantly and passionately to get their businesses off the ground. Overcoming every obstacle with stamina and vigor.  Then the really hard work begins, as if the launch wasn’t difficult enough.  Selling. Operating. Scaling. Funding. HR, PR and avoiding the ER.

Days begin at 5AM and end around midnight. Sleep is sacrificed in place of getting more done.  Family and friends watch on the sidelines as the entrepreneur climbs to the top.  They are the cheerleaders, sounding boards and allies.  They see the competitiveness to win, so they encourage you more.  You’ve got spirit! You can do it, yes you can!

Our colleagues and advisors rarely say stop or slow down.  Why?  They don’t want to crush the dream.  They want to keep the spirit alive.  Businesses are built with emotions of positive thinking, ambition and heart thumping enthusiasm. They are also built with blood, sweat and tears.  We chant faster, better, more.  We ignore slower, take a breath, and reminders to enjoy the journey.  We convince ourselves we work better under pressure and stress.

As we are conditioned more than ever to reach for the stars, who is telling you to chill out?  It seems counter intuitive to being an entrepreneur.  Is it?  Can you get more accomplished when you are relaxed and well rested?  There are countless studies that prove stress is bad for your health.  It increases heart disease, inflammation, chances of having a stroke, weight gain, and even increases odds of catching a cold.  Relaxation studies show we can counterbalance many of the health risks.  Yet, out of fear of failing, the entrepreneur presses on and tries to do more.

I am reminded of a wise mentor who once said, do you want your epitaph to read “I Worked the Hardest”. Know anyone that has health issues from living stress-free or being well rested and relaxed?  Know anyone with health issues from living in the hyper stress mode, working 18 hour days, not sleeping, and sacrificing all “me” time?

Take this advice from a self-subscribed workaholic, it may be time to relax!  Here are a few ideas on how to get back to the spirit and reduce the entrepreneurial stress.

1.  Remind yourself of the WHY.  Why are you building a business?  Why are you working so hard? Why are you driving yourself and probably your family crazy?  Write down your why and review it daily. If it is for your retirement, for your security, for your family or for your employees, they will all tell you they would rather have a bit more of the relaxed you than a bit more stress.

2.  Turn off the electronics.  We are more wired and connected today.  Checking emails first thing in the morning can create stress before you even get started.  Smartphones, laptops, computers, TVs, off!  Set a schedule for when you will be connected and give yourself the freedom to be off the grid.

3.  Say hello!  Reach out to past colleagues and mentors.  Get together in real time, face to face.  Perhaps they are in the same predicament of being overloaded and overworked and are looking for someone to help give them a reprieve.

4.  Read any good books lately?  No one can argue that reading is good for the mind and soul.  Take 20 minutes a day to refresh your mind.  Give yourself time to escape, explore and grow.

5.  Prioritize.  Do you have a list of priorities?  Take your list and categorize the A list, all which have to be done by a committed deadline.  Next is your B list, those items that are important but are less urgent.  Finally, your C list that captures those tasks that would be nice when completed; however, do not endanger your well-being or put the business at risk.

6.  Escape.  If your business can not survive without you for a weekend, a week or even two, you do not have a sustainable business.  How would an investor perceive your business if it can not operate without you.  In other words, the business is you. Do not believe you are helping your customers, your investors or employees by being the one that makes it all run.  It is bad for business and bad for you.  No one can sustain the pressure of being the sole enterprise.  Delegate and escape.  Force the business to run without you.

If you get to the end of the road and the sign blazes with bright lights that you made it, congratulations.  You did it.  Now, look back and ask was it worth it? Did you enjoy the journey?  If you are still on that journey, stop and breathe.  Relish in the spirit of being an entrepreneur.  Enjoy the growth in your business and your personal experience. Don’t miss out on life to get to the end.

There is no recovery from lost time or relationships.  Make sure it is really the entrepreneurial spirit that is motivating you, not the stress controlling you. Live Long. Be Happy. And Prosper.

Competing is Winning the Gold

Pictures: Stuart Ruckman - The Australian

There will be a total of 302 gold medals awarded at The Games of the XXX Olympiad.  There are more than 10,500 athletes competing from 200 nations and territories.  Every four years we create an engaged global audience that together watches, cheers and celebrates the world’s best compete for gold.  Humans love competition.

The definition of compete is to strive consciously or unconsciously for an objective as in position, profit, or a prize (Merriam-Webster).  When we join forces to compete, we become one.  Competitors seeking a prize.  Competing to win.  That makes us all winners.

We look beyond borders and differences and we unify to revel in athleticism.  We encourage those competing to push harder, overcome challenges and fight to cross the finish line first.  We celebrate individuals, teams, countries and the world.

Some say showing up is success.  It takes more than showing up. It takes competition to engage us.  Why?  Competition motivates, inspires and rewards.  It drives us.  It excites us.  It makes our heart beat accelerate.  It is an experience.  Flags wave faster, people stand taller, crowds cheer louder and we watch more intensely when the competition heats up. Good competitions get everyone involved in celebrating success.  Showing up is just doing a job.  Competing is striving to win!  We want to be with the winners.

Have you created a competitive culture in your business?  Does everyone on your team compete to win?  Whether we are awarded gold medals, business awards, new contracts, customers or simply a thank you, the best motivator to drive us is competition.  To win in business, you need to compete.  When you compete internally and externally, you will be rewarded. You will win.

There are many ways to compete in business.  You can easily set up internal competitions to meet deadlines, achieve sales numbers, launch products faster, reach new levels of customer satisfaction, increase profits, grow your customer base, or decrease errors.  There are great financial gains awaiting through external competitions.  Winning new business contracts, opening new markets, reaching higher industry standards, increasing shareholder value, gaining on the competition for market share, all will reward your business and will help drive your team to strive for more.

The worst statement made to an investor is “We have no competition.”  Beyond the absurdity and audacity, is the fear that if you have no competition, you won’t be motivated to win.  Investors love to put money in businesses that are competing in a race to the finish line.  In the eyes of an investor, the finish line may be an exit with a 5 or 6 multiple return on investment.  What is your finish line?  You always have competition, inside and outside of your business.  You always compete.  We invest in those competing to win.

If 200 nations understand the value of competing to win the gold, what is stopping you from doing this in your business?  Competing is winning.  Cultures that compete, win.  Create a culture that embraces winning.  Teams win when they know the goals and they have leaders that encourage them to complete.  They will compete when they are rewarded for winning.

The Olympic spirit is not a myth.  It is a reality. It inspires us.  It is a feeling that touches us deep in our gut and makes us feel emotional about trying hard to achieve something far beyond the reach of most of us.  This same spirit has the power to unite millions from around the world to participate by simply watching others go for gold.  When they win, we win.  Every gold, silver and bronze medal for Team USA, feels like all Americans win!  Every country feels the same about their exceptional team of athletes.  That would make us all winners.  Worldwide winners!

Most people want to be a part of a culture that celebrates winning and achievement.  When is the last time your brought your team together to motivate them to compete. Provided an opportunity to win. When did you last recognize others and reward individuals, teams and the entire business for winning?

Now is the perfect time for you to inject more competition into your business, into your culture.  You can blame it on the Olympic spirit!

We won!

By Jamie Glass, CMO and President of Artful Thinkers and Managing Director, Sales & Marketing Practice at CKS Advisors.