Building a business empire, enterprise, or even just a start-up has its price. The image of the confident and charismatic CEO often falls short of reality. Before, during and after public visibility often comes personal self-doubt, anxiety and mental anguish. Many business owners don’t readily divulge the distress they feel because they don’t perceive it as a positive for the business. But it is this very mentality – that whatever you do has to be good for the business – that drives too many business owners over the edge.
This very battle was poignantly described in Jessica Bruder’s 2013 article in INC. Magazine “The Psychological Price of Entrepreneurship.” Bruder goes in depth into the phenomenon of depression and suicide in the business world, a telling portrait of the stressors and burdens commonly faced. From sleepless nights to crippling anxiety, many business owners have the added pressure of supporting their families as well as the livelihood of their employees.
As a business grows, so do the responsibilities of the owner, and it is this very problem which leads so many entrepreneurs to question their worth. Bruder notes that there are steps entrepreneurs can take, however, to combat depression and anxiety in the business world, such as taking expert advice, asking for help, limiting personal investment and allowing yourself to make mistakes.
The life of an entrepreneur is complex; you face ups and downs on a daily basis. You are responsible not only for yourself but for the health and vitality of your business. A tall order for many. Following expert advice and learning about others’ struggles is a great way to stave off anxiety and depression. It is also important to do what you can to protect yourself and limit your liabilities. A good place to start is speaking with a lawyer about what you can do to protect your interests as an entrepreneur.
The internal struggles of entrepreneurs are not as publicized as their external successes or failures. The complexity of the business world is one that is best appreciated from the inside. And the rewards of owning and operating a business can be considerable. Indeed, one of the world’s most successful entrepreneurs, Steve Jobs, observed that the road to success is only seen as a straight line when you look backwards.
Developing a relationship with us as your trusted Creative Business Lawyer® will help assuage some of the anxieties of being an entrepreneur. We can help navigate major changes in your business and make the best decisions regarding its future success. The peace of mind that comes from knowing your best interests are looked out for can mean the difference between struggle and success in your business endeavors. And, having a trusted advisor who understands you and your business to be an objective voice is often a critical and often overlooked keystone to creating a business that meets the needs of your life.
Yolofsky Law has been on the front lines with entrepreneurs and small businesses as they grow. The firm helped to structure an international agricultural business, based in Miami, with its first investment. Presently, we are working on creating the relationships for one of the largest environmental clean-up efforts in the world. Whether your business will be based in South Florida, or if you simply want to work in Miami or Fort Lauderdale on your way to bringing the next best thing to Downtown or Dubai, Yolofsky Law can help.
This article is a service of A. J. Yolofsky, Creative Business Lawyer®. The firm offers a complete spectrum of legal services for businesses and can help you make the wisest choices on how to deal with your business throughout life and in the event of your death. We also offer a LIFT Start-Up Session™ or a LIFT Audit for an ongoing business, which includes a review of all the legal, financial, and tax systems you need for your business. Call us today to schedule.