The potentially lonely life of an Entrepreneur
Entrepreneurship is exciting and rewarding. However, it can be a solitary pursuit at times. Indeed, many new corporate leaders don’t realize how lonely they’ll feel on occasion. With a business mentor at your side, though, you can gain companionship and sound professional advice when you need it.
The Reasons for the Loneliness
In 2012, Harvard Business Review released a survey that indicated almost 70 percent of new CEOs felt that they were underperforming due to loneliness. It’s important, then, for a corporate chief to schedule plenty of time with friends and family members. Doing so can rejuvenate the spirit and ward off depression.
Even so, although your friends and relatives might try to be supportive, it’s unlikely that they understand the intricacies of business leadership. Thus, they’re probably unable to help you deal with specific problems at work. Making matters worse, many CEOs don’t want to express their worries to subordinates. It might make them look indecisive and ineffective, and it could lead to nasty gossip.
On top of that, shareholders, business reporters, government officials, and members of the general public often follow CEOs carefully. As a result, the pressure ― and the social media criticism ― can be intense and isolating. Therefore, a CEO often feels compelled to just soldier on alone.
The Answer: Business Mentors
The good news is that you’ll probably feel more connected as soon as you get in touch with a business mentor. What’s more, no matter how talented a CEO is, there are always areas in which to improve, particularly in the field of conflict management.
The ideal person from whom to seek counsel would be an expert from outside your company. Such an individual could offer a fresh, unbiased, and honest perspective. Because he or she isn’t one of your employees, this person wouldn’t simply try to curry favor with you.
A 2013 study conducted by researchers at The Miles Group, a consulting firm, and Stanford University examined the relationship between CEOs and mentors. This survey identified two noteworthy trends. One is that approximately 66 percent of CEOs don’t get any guidance from professional coaches. The second is that almost all of the participating CEOs with mentors said that being with their coaches is pleasurable.
It’s easy to see why those meetings are enjoyable. Just having someone in your life with whom you can share your concerns and anxieties can lower negative stress levels. In short, the time that you spend with your mentor should provide relief and renew your confidence.
For these reasons, boards of directors frequently suggest coaching to CEOs. In fact, according to the Stanford/Miles Group survey, 21 percent of CEOs with mentors got the idea from their board’s chairperson.
Finally, know that George Black has a sterling reputation for constructive business mentoring. He’d be happy to help you find new solutions to thorny problems as well as creative ways of growing your company. Please contact him at any time for more information.
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Obviously, there are no guarantees of success; however, if you do the above, your chances for success are improved.
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