Being a Business Owner can be lonely – but what can you do about it?

Being a Business Owner can be lonely – but what can you do about it?

Ask any business owner and they will tell you that owning and running a business can be a lonely and desolate place. You cannot expect your spouse or friends to relate to your problems as they are not involved in the day-to-day running and management of your business, anyway they probably have their own worries which is taking up enough of their time and energy.

One way of getting around this problem is to bring on board a non-executive Director or employ the services of a mentor or coach who can help you reach a decision in a logical and from an impartial point of view offering guidance and to help you see the woods from the trees.

In ancient Greece the great philosophers Socrates and Plato would have sat for hours with their peers debating matters of interest and concern in what was a forerunner of the Mastermind Group.

In modern day the Mastermind Group concept can be traced back to the author Napoleon Hill. In 1908, Hill was commissioned by the American industrialist Andrew Carnegie to interview over 500 of the most successful people of the day and put together a general formula for business and life success. The ‘project’ took over 20 years to complete culminating in ‘The Law of Success’ later to become ‘Think and Grow Rich’, which included a series of steps of which he advocates the ‘Power of the Mastermind’ which we now know as the Mastermind Group.

A Mastermind Group is a group of people preferably not more than six who are of a like mind from either the same or different industries sharing a common need for success in their business venture. The group meets on a regular basis with the objective of supporting each other through the sharing of experiences and knowledge.

When forming a Group choose members who are likely to create synergy, who are focused, ambitious, open-minded and goal oriented with a positive outlook who will bring to each and every meeting energy and a willingness to share . It is beneficial to include people who have real experience and success in business and who have overcome personal challenges. The Group is designed as a long term support system and not as a ‘drop-in’ session whenever you feel you need a motivational lift.

The Group becomes a place where individuals can bounce ideas, discuss problems confidentially and learn from the wisdom of their fellow Group members. Mastermind Groups can offer valuable benefits including accountability to ensure that projects don’t slip in terms of deadlines and completion. An additional advantage is the power of simply stating your goals out loud which in turn can help you to clarify your thinking and to ‘follow-through’

So if you find yourself in a situation where you are over whelmed, feel you have no one to turn to with your problems why not take the initiative and create your own Mastermind Group and gain from the support of fellow business people.

About the author

Howard Kent: Kent Consulting Ireland are a Marketing & Business Growth consultancy providing Business Coaching & Mentoring to SME Business Owners

0 Comments

Would you like to share your thoughts?

Your email address will not be published. Required fields are marked *

[contact-form-7 404 "Not Found"]