6 powerful tips to help you combat loneliness as a business owner

“Entrepreneurial loneliness” is common among many business owners we speak to. Setting up and running a successful business requires long hours, and you may not always have the “sounding board” of a peer or someone in the same position who you can talk to.

Inc. reports that 75% of small business owners are concerned about their mental health, and 56% have been diagnosed with anxiety, depression or stress-related problems by a doctor or mental health professional.

This data shows that, if you suffer from these types of symptoms as a result of running your business, you’re not alone.

It’s also important to know that there are steps you can take to reduce your entrepreneurial loneliness, even if you’re currently running your business on your own and don’t have any employees.

Read on for six tips you can follow to feel less isolated and look after your mental health as a business owner.

1. Find like-minded people

If you’re an entrepreneur you may often spend hours a day on your own – particularly in the early days of running your business. This can easily lead to a feeling of isolation.

Even if you have employees, you often can’t discuss higher-level business issues with them, and it’s normally not fair or productive to burden them with your worries as an owner.

Finding like-minded people can be a positive way to feel more connected. It can also give you a platform to discuss business-related issues with people who can relate to you, helping you to feel less lonely. They may also have experienced the same issues as you, and so can provide valuable insights or advice.

A quick search online for business groups in your area should help you find fellow entrepreneurs you can talk to. Many of our clients also benefit from using us as a sounding board, as we can add real value when it comes to growing and developing your business.

2. Seek shared workspaces

If you’re early in your entrepreneurial journey, or your business doesn’t require its own premises, you may currently be working from home. This can easily result in you going days at a time without seeing another human.

Not only is social isolation bad for your mental health, but it can also lead to serious physical health problems. Tulane University reports that social isolation can lead to a higher risk of coronary heart disease and stroke, and in the long run can increase your chances of developing dementia.

One way you can boost your social interaction is by seeking out a shared workspace. There are several ways you could do this.

To increase your levels of social interaction, you could simply spend a few hours a week working in a public space such as a café or library. In these places, you’ll benefit from interaction with staff members and other patrons.

Alternatively, if you feel you need even more time out of the house, joining a shared workspace could be a good option.

By joining a shared workspace, you could benefit from the community at that location, regularly seeing the same people and building connections. This kind of environment can also be conducive to business opportunities and, depending on your business, meeting potential clients.

Additionally, you will likely be surrounded by like-minded people who are going through – or have already gone on – their own journey with entrepreneurial loneliness, and they may be able to give you advice.

3. Make time for things outside of work

As an entrepreneur, your work is very important, and it’s easy to prioritise it over other aspects of your life. However, your business isn’t the be-all and end-all.

Making time for friends and family as well as hobbies and exercise can help to alleviate loneliness.

Working long hours may seem like a good idea, but if it means sacrificing time with the people you love, and activities that make you happy, it can be counterproductive. Loneliness and burnout can cost you more in the long run than working shorter hours.

4. Recognise when you’re feeling lonely, and reach out

It’s often hard to gain perspective on your feelings. You may be feeling down, but you haven’t quite realised why.

Learning to recognise the symptoms of entrepreneurial loneliness and identifying their causes can be an important skill to learn.

When you do recognise this feeling, it’s important to then reach out for support. This can be through friends or family, or a professional such as a therapist or business coach.

This is also a time when having a network – as you read about previously – can be important. Fellow business owners can be excellent people to turn to for support, and in turn, you can support them when needed.

5. Don’t do everything online

With the rise of remote working and platforms such as Zoom becoming a part of everyday life, it’s now possible to conduct almost all business activities online.

This can be very beneficial from a cost and time perspective. You no longer have to travel to see clients or suppliers, and a meeting that might have taken half a day of travel previously could now be done in 30 minutes from the comfort of your home.

However, just because you can, you shouldn’t necessarily do everything online.

Meeting with people in real life has a lot of benefits. Clients will appreciate the effort you take to come to them, and it can help you to build stronger relationships.

It can also help with entrepreneurial loneliness. Face-to-face meetings give you a reason to get away from your workspace and to interact with people in the real world.

6. Get out in your local environment

Not all businesses require regular meetings, so you may not have any work-related reasons to get out of the house. If this is you, it can be important to make time to do so.

Simply going for a morning or lunchtime walk can help you connect with your local area and feel less isolated.

Perhaps you have some errands that you could do at lunch such as buying ingredients for dinner or posting a parcel? By taking half an hour during the workday to do these tasks, you can avoid long days unbroken by social interaction, helping to stave off the loneliness of working by yourself.

Get in touch

Having a trusted financial planner on your side can help you feel supported when it comes to your finances.

We can help you with much more than your finances – we can also act as a sounding board for any ideas or issues you have and offer advice to help you develop your business and achieve your goals.

At Clarion Wealth we have an experienced, friendly team of advisers who can help you not just plan your personal and business-related finances, but also act as a confidante and trusted partner when it comes to issues and challenges you might face as an entrepreneur.

To find out how we can help you, please email [email protected] or call us on 01625 466360.

Please note

This article is for general information only and does not constitute advice. The information is aimed at retail clients only.