July 19

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The Importance of Avoiding Isolation as a Business Owner

By Andrew Martin

July 19, 2023

How to Succeed as an Entrepreneur

Group of 3 entrepreneurs high fiving after succeeding together. 2 are women and the third is a man.

The journey of running a business is incredibly exciting and rewarding, but often solitary. Many entrepreneurs start out on their own and find that they hit a wall. However, owning a business doesn’t have to be this way. It’s actually critical that, as a business owner, you avoid isolation. The good thing is that this is very doable. In this article, we will discuss 3 reasons why isolation is bad for you and how to avoid it.

Why Isolation is Bad for Entrepreneurs

There are numerous reasons why isolation is bad for business owners. In today’s post, we will focus on:

  • Burnout
  • Analysis Paralysis
  • Lack of Camaraderie

Burnout

Burnout can happen to everyone, but entrepreneurs are especially susceptible to it. Burnout is defined as an overall feeling of exhaustion mentally, physically, and emotionally caused by extensive stress. This stress is often the result of overworking and, as this stress continues, it’s not rare to find yourself losing interest in your work and questioning why you started your entrepreneurial venture in the first place. If you don’t address burnout, this could even lead to depression. It could also result in you falling short of achieving your business goals, which could feed into these negative feelings.

Analysis Paralysis

Challenges will always arise when growing your company. That’s a given. However, when you first embark on entrepreneurship by yourself, you will “wear many hats”. You might start out doing several jobs when you are simply one person. If you’re isolated and don’t turn to anyone, this could lead to what we call analysis paralysis.

Analysis paralysis means you are absorbing too much information all by yourself, and while it’s good to be resourceful, this could result in the inability to make decisions that will move your business forward simply because there is too much information you don’t know what to do with.

Lack of Camaraderie

Isolation is bad even for individuals who don’t run businesses, but when it comes to entrepreneurs, this is especially true. As humans, we all need genuine connection with one another in order to both survive and thrive. As business owners, genuine connection with other business owners will make us feel like we are in good company. This is how we form friendships with others who understand exactly what we are going through and can support us in our journeys. It’s also how we form valuable partnerships.

Having a circle of other business owner friends means you all have something in common. It also gives you the opportunity to bounce ideas off each other and gain insights into how you can be better for yourselves and your companies.

Join the Six Figure Dinners Peer Advisory Board to Better Your Business

Six Figure Dinners is a peer advisory board that positively impacts business owners so that, in turn, they can positively impact their communities. Once a month, we bring together 8 business owners from different industries in a round-table setting. We discuss each other’s hardships and challenges in a safe environment and engage in strategic problem-solving together.

If you’re ready to stop feeling isolated as a business owner and connect with other ambitious, passionate individuals, then we invite you to join Six Figure Dinners so that you can get connected, get inspired, and get answers.

Want to learn more? Check out these reasons to join a peer advisory board.

Click here to learn more about becoming a member and to schedule a call to get started.

Andrew Martin

Andrew is Founder and CEO of Six Figure Dinners. He's also a co-owner of JARA Ventures, a venture capital firm that invests in and operates businesses across various industries, including financial services, recruiting, digital media, and real estate. Prior to this, he owned and managed 11 Menchie's Frozen Yogurt locations and a Menchie's Food Truck, which he sold in 2014. Andrew's other investments mainly target small to mid-sized consumer industries.

He earned his MBA from UCLA Anderson School of Management, specializing in Brand Management. Before pursuing his MBA, Andrew led a sales territory at The TREX Company in Boise, ID. Throughout his career, he has volunteered in various capacities, such as offering pro bono mediation services and assisting underprivileged families in improving their living situations.

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