Entrepreneurs: Athletes without Coaches, Trainers and Open Competition

From Inc. Magazine

The Psychological Price of Entrepreneurship, Jessica Bruder, Inc. Magazine

What She Says: While our society idolizes successful entrepreneurs, they suffer from depression and constant stress. Three out of four venture-backed ventures fail, and fewer than 5% achieve their financial projections. Entrepreneurs are chasing the American dream while juggling disparate work roles, struggling to make payroll, arguing with partners, employees, vendors and their boards.

"In the latest Gallup-Healthways Well-Being Index, 34 percent of entrepreneurs--4 percentage points more than other workers--reported they were worried. And 45 percent of entrepreneurs said they were stressed, 3 percentage points more than other workers."

What This Means for You: Entrepreneurs are business athletes, but there is no formal path to success as there in athletics. Athletes are trained and guided, and they figure out fairly quickly (and early in life) whether they will succeed in their dream.

But the path to entrepreneurial success is less defined. There are no races, tournaments or competitions in which you learn how you stack up against your peers. There is no ranking, recruiting or signing in the world of entrepreneurs.

It is this lack of knowing the path - of working your ass off without a clear understanding of what it takes to succeed, that is so incredibly stressful for entrepreneurs. Many push through their fear and make it to a certain level of success. But, once there, they are exhausted and worn out. They often can't find their way to the next step in their journey.

So they founder and stall.

If you are at this stage - stressed out, disappointed, and unsure of your next step as an entrepreneur, then please seek outside advice. Find the equivalent of athletic coaches, trainers and physical therapists who can help you overcome your plateau and move to the next level without killing your body and/or spirit in the process.

Virginia Ginsburg is founder and chief consultant at Swell Strategies. She is passionate about supporting small business owners and entrepreneurs in starting and running successful enterprises. An avid reader, in this blog she reviews books and articles and relates specific learning points back to entrepreneurial businesses.