Someshwar Mehra

88% of Indian family businesses are poised for sustained expansion over the next two years, vs. the global projection of 77%. – PWC Family Business Report 2023.

                                                                       

Welcome back dear reader. The last post was all about understanding how it’s possible to work with family and friends. Which led to enquiries about how one can give feedback to ones family without upsetting the personal equation. In this piece, we will examine how we can go about it.

In order to write this blog, I have drawn upon my own experience of working with family businesses, and interviews with patriarchs who seem to have made it work, and some secondary research.

 

To begin with, two big things to know and remember;
One, you need to unlearn a lot of what management schools teach us. India works on a different cultural paradigm with its multi layered nuances. Nothing is linear and clear.

Two, personal relationships don’t get left at the door. They need to be managed with a lot of wisdom and diplomacy.  

 

One needs to remember both these things while giving feedback to family or friends at work. Let’s examine this in detail with a common scenario in Indian businesses – that of the next generation coming to work. Here, the father is the ultimate boss and the Heir is to be groomed to take over.

Now, each successive generation will come with their own ideas (succession planning is another topic), start working, make mistakes, and learn. The big question is – who will bell the cat, and how? Let’s look at 3 basic principles that seem to have worked well for many people –

1. Set clear expectations and outcomes – there can be no learning or feedback without measurable objectives. The Heir needs to be explained the role they play, the tasks they need to learn, who they would report to (some businesses avoid direct father-con reporting),  and how they are expected to conduct themselves. Some family businesses try to mimic the bottom-up, management trainee model followed by larger corporations for better overall grooming.

The advantage here is that the successor, having grown up in the extended business environment understands the larger picture and objectives (subconscious osmosis) and has skin in the game naturally.

  

2. Real time and constant feedback – this is something that most entrepreneurs say happens more by default than design. The personal equation and the desire to protect tends to overflow into the work sphere. So instead of trying to fight that instinct and neatly compartmentalise work and relationships, more experienced entrepreneurs use it advantageously.

The trick is to give feedback behind closed doors, gently and firmly. The mentor needs to keep it specific, explain the context, action and correction. Very similar to helping with a math problem or teaching how to ride a bicycle. It is important to keep it objective to keep the flow easy for both parties.

 

3. The BIG feedback – this is where modern management mixes with traditional wisdom. We are talking about performance reviews and tough conversations. These usually tend to happen when the loop of constant feedback and real time mentoring seem to fall short, or as routine in more formal structures. However, before these conversations, it is the family senior who needs to do most of the work.

For these conversations, I have developed a PAT framework that will help the father make specific notes to keep things objective. Also, to give his Heir a ‘pat’ of encouragement after a year of hard work. The three aspects are Positive, Affirmative, and Transitioning. Notable is the absence of negatives. This is keeping in mind that the successor is typically there to stay. Therefore, it is more conducive to keep building and resisting the urge to criticise and having awkward overflows at home.

Positives – it’s good to start the conversation with all the good that’s happened. One can discuss all that was learnt, what the scion liked, projects enjoyed, challenges faced, objectives met. This is like an informal warm-up chat to get the dialog going.

 

Affirmative – this is when the chat becomes a little serious. This is when you discuss what didn’t go as planned, what they learnt, any plans to handle the situation/project differently, to avoid the same outcome. At this point just listen, and understand the other person’s point of view. Idea is to avoid making them feel defensive, so they don’t shut down.

 

Transitioning – this is where a father’s temperament, patience, and instinct to be a little harsh, are all tested. The feedback needs to be specific with examples to illustrate the point. This will keep the conversation on track and avoid getting personal.  

 

One needs to objectively approach set KPIs and achievements, behaviours that need alteration, address the Heirs’ role in projects that didn’t go well, or feedback from other departments. This is also a great opportunity to understand where the next generation is heading or thinking for the business.

Let’s try and simulate a possible dialogue to see how one can give feedback. (You may skip the role play below and head to the conclusion too) –

 

P(arent) – So H, how was your year at work? I have heard good things about you from other people. People/I was impressed with your work on X project. Tell me about your experience?

H(eir) – …

P – I was proud of how you handled B challenge and conducted yourself well at D occasion.

H – …

P – What did you learn from the experience?

H – …

P – So what do you think you might do differently next time in a similar situation?

H –  …

P – I feel things could improve if the next time you handled (specific) situation in these (specific) ways. I have made the same errors and learnt. Doing it in a particular way will help avoid conflict/ losses/ embarrassment.

H – …

P – Looking at the objectives we set for you, you have met some/most of them. Let’s look at the gaps and discuss how to fill them. I want to remind you that this is about the work, and not you personally. We can do this together.

I have made a list basis the KPIs and objectives set and what didn’t go as per plan. One area is on project M. These are the two challenges that came up. I would be interested to hear your perspective and thinking on these.

H – ….

P – There is also some general feedback from other people that I just wanted to air and hear your perspective and plan for ahead. We can discuss what is fair or unfair and find solutions and make changes.  

H – …

P – You have done well and I am proud of you. Let’s keep working as per our plan and see what else we can make possible.

 

Now, the above conversation is only to illustrate a possible flow, and not prescriptive. There are multiple variables that could alter the course of even the most well intentioned discussion. There are relationships dynamics, the emotional investment in the aspects discussed, who they are discussed with, the temperament of the family members involved, etc.

 

To conclude, giving feedback to family or friends at work is tricky. One needs a mix of compassion, patience, diplomacy and professionalism. Before the conversation, one should make clear notes about specific incidents, behaviours and examples on how to improve and change. These notes will enable constructive and clear feedback without getting personal. The PAT framework is designed to set a positive tone and gradually move to things that the person themselves realised could be done better, to wider feedback and course correction.

 

While working with family is never easy, I hope this article an framework sparks off ideas and helps you find ways of making things work in a positive manner where everyone is happier. The thing to remember is that it is about the work, not the person.

 

If there is any aspect of working with family and friends you would like me to discuss here, please do write to me or comment below. I look forward to hearing from you and seeing how we can make things work better.

 

The author is a brand & business clarity coach and marketing consultant who helps businesses and entrepreneurs get unstuck, get clarity and unlock growth. He works mainly with independent businesses and entrepreneurs to help them optimise their thinking, behaviour patterns, and marketing efforts. To know more, visit brandcouch.co/.

Welcome back dear entrepreneurs. Allow me to pick up where we left off. In the last post we discussed when a business partner was really needed. In this post we will analyze the possibility of that business partner being family or friends.

The concept is a tried and tested one. While some come from business families, and some want to  break away with changing times, others dream of building their own dynasties (usually with friends, late night, after a few drinks, and holiday planning).

To begin with, let’s look at the 2 critical reasons why working with family and friends is so common and why it works –

1. Cultural similarities – you share similar values, views, and preferences. This means people would generally follow a similar code of ethics, values, thinking and working styles. This makes it easier to communicate thoughts and ideas, and smoother work dynamic, especially in the early stages where everyone has to pitch in. By way of generalized example, entrepreneurs from Punjab are known for their bullish enterprising spirit, while businessmen from the trading communities are known for their measured understated restraint.

   The downside – could be the lack of diversity in thinking which could mean fewer differing perspectives which are needed in a competitive business environment. What also tends to happen is that the person with the least say or stake often tends to be overlooked or go unheard even when they may have valuable inputs – sowing seeds of discontent in the long run.

2. High levels of trust – people are most invested if they have their skin in the game. After all, we don’t think our own family member or close friend with betray us or do something that will harm our joint interests. This has been exemplified with some of the largest business houses in India being family enterprises that have evolved to accommodate growing family members.

   The downside – oftentimes we find people ill-suited for a role in critical functions. They could be the top boss’s eyes and ears on the ground, or because the management doesn’t know how to fire or reassign a family member or friend without upsetting the personal dynamic.  

 

We now know the two major reasons why working with family and friends works, and where it can cause friction and complications. To avoid these, and to ensure that work doesn’t go home, and vice-versa, I recommend an easy two-stage process to my clients –

1. Boundaries – one needs to establish clear areas of operation, ideally with the effort to train or place people basis their qualification, interest and aptitude – like at any other job.

This ensures efficiency, effectiveness, and growth opportunities for the individual. It also results in lesser operational overlaps and conflict, and fewer opportunities for other work partners to exploit a fault line within the family or friendship.

2. Conflict resolution mechanism – some form of disagreement is inevitable, despite establishing clear boundaries. Given the delicate nature of personal relationships, one needs to be doubly careful.

I recommend clients to have the tough conversation about the various scenarios and what would need to be done as and when they surface. Depending on the scale of the business these could be done with the help of an HR expert, an external guide or in person.

 

The big pay-off – you get to keep your business and your relationships. Over the course of research in addition to my personal experience, the biggest regret and learnings entrepreneurs had was having to choose between work and relationships. Invariably losing both, or feeling like they lost both even if they managed to hold on to one of the two. Working with family and friends is trickier than hiring external talent and developing deep bonds over time. However it does not need to be an either/or situation. I do believe, in this case at least, people can have their cake and eat it too.

“I need a business partner. I really think I do…?”  

This is becoming an increasingly common topic of discussion during business counselling sessions with entrepreneurs. Many feel having a co-founder or partner is just the way to go, while others wonder if it really is a mandate given most of the Unicorns and recent success stories seem to have at least two or few hands on deck.

While statistically it is tough to determine if a business will do better with a partner, there is a lot of data that suggests about 70% of business partnerships fail (that’s for another blog). Having said that, having a business partner does have its advantages like; sharing the risk, workload, moral support, and more.

So when a client comes wanting to figure out if they need or want to take on a co-founder or business partner, we use the BEAM model to get arrive at the answer. I am sharing it here so it may help anyone of you out there –

1. Business development and access – a founder or business owner eventually exhausts their family and friends as initial customers quickly. This is when a partner may be able to introduce the brand to an entirely new set of customers. These could be from a different geography, social set, psychographic or socio-economic set otherwise untapped or unavailable earlier.

   Possibilities – many businesses engage with business introducers with a basic plus incentives model, or for specific geographies, or a sales head with limited ‘sweat’ equity basis performance, depending on the product or service in question.

2. Expertise/ skill gap – this is usually a good reason to take on a partner. Not everyone is good at everything. Many people have the capital but don’t know how to use it, other times you may have the talent or expertise but lack the finances to take off. Subject matter experts are usually a good way of plugging a gap.  

   Possibilities – check if you can hire someone, or need a co-founder to work with a team. Having someone who a deep understanding of an area is usually worth giving up control and equity for the sake of sure and deliberate growth and success. Many founders explore the option of ‘sweat equity’ in exchange for the skill brought on board.

3. Action gap/ work load sharing – this is for business owners who get overwhelmed by the unending to-do lists and things that need to be done by one person. Since most people are not superhuman, they sometimes take on a partner to ensure stuff gets done!

   Possibilities – have clear task and professional boundaries, and a plan to resolve any conflicts arising from the occasional overlap. This is when people typically bring on sales or operations or HR heads with a stake to incentivise performance.

4. Money / capital – the fire power behind all the talent and ideas. Today’s ‘idea economy is brimming with ideas, enthusiasm, experience and expertise. What one needs is a bit of money magic to get things moving.

   Possibilities – the funding ecosystem is evolving quickly in India with multiple options like Angel Investors (think Shark Tank), Venture Capitalists, Crowd Funding, Private Equity, Debt Financing and then some. The source of finance depends on the business needs, the founder/owners willingness or comfort with parting control or ownership depending on the nature and stage of the business and its valuation and profit potential.

 

To summarise, it is not necessary to have a business partner or co-founder. Having one comes at the cost of control, equity and freedom. If you do want to engage, the BEAM Model should be helpful in making sure you do it for the right reasons and not because you feel you should or because someone told you so. After all, it is your business shaped by your vision and decisions. The buck does stop at you.

“Once they realise I am not the star performer they think I am, they will fire me!”

If you have ever had similar thoughts, or are waiting to get ‘caught faking it’, read on dear reader. Today, let’s discuss the feeling of being the pretender in the room – the IMPOSTER SYNDROME

The syndrome

In simple words it is the feeling of ‘not being as good as others think’ – aka the imposter or pretender, or the ‘faking it’ kind.  Most people usually chalk it down to low self-esteem or lack of confidence. The self-doubt is more common than anyone would imagine amongst entrepreneurs and top level executives. Only no one talks about it! 

Telling signs

This syndrome was common to quite a few of the clients I worked with. It was something we both discovered as we worked on something else entirely. So as we move forward, let’s see how many of these factors you identify with –

–         Think people will find out you are not as good as they think you are

–         Feel you don’t deserve the success, or promotion or increment

–         Have difficulty accepting compliments or credit for work well done

–         Lack confidence even though you know, and are good at what you do  

–         Think you have been mostly lucky (even though you work hard)

–         Keep waiting for your ‘streak’ to end

–         Feel you will get caught faking it! 

 

The consequences

This feeling of constant insecurity manifests itself in many ways. The most common being overthinking, over preparing and reluctance to try new things. While over preparing can be beneficial when trying to grow the business, or seek funding, the other consequences can actually have a counterproductive effect like –

–         Constant stress and anxiety – the impending sense of doom, the perpetual waiting to get caught. Physically this typically manifests itself as stomach churn or knots. This could have health implications like irritable bowel syndrome too and nervous twitches.  

–         Decreased effectiveness and feelings of isolation – the constant wait for doomsday and life to end means one spends more time thinking up worst case scenarios vs. productive work. This also manifests itself in wanting to keep to oneself in case anyone else catches on. This could lead to paranoia, depression and actually believing ones negative thoughts to be true!   

–         Reluctance to try new things – people tend to stick to what they know works. Also, trying out new things entails trying and failing before succeeding. The process feels like it will expose the achiever to be a fraud. As a result most people end up self-sabotaging themselves and their work to avoid getting caught. 

 

What can people do –

I will not tell people to keep calm and carry on. Instead this is something to be addressed. The anxiety is a combination of feeling ‘physically unsafe’ and ‘emotionally vulnerable’. The entrepreneurs or professionals needs to convince themselves at both levels that they are not imposters. There are some simple steps I use in my sessions.

1.      Make a list of what makes you qualified for the job – this includes qualifications, experience, unique personality traits that make you suitable for the job and set you apart from others. You could even try looking up the internet for people with your unique set of qualifiers. You will realise that you are indeed one in a few thousand at least!

2.      List accomplishments – make a list of all the awards you have won, appreciation e-mails from clients, funders, even school teachers and certificates from that time. You can store these as a folder on your system, or keep a journal. Essentially anywhere you can revisit them and own your success!

3.      Make realistic goals – while everyone wants to be a Unicorn, or the next Steve Jobs, understand that not everyone will. Not making it to the page of a magazine cover does not make anyone less successful. You need to define your own parameters of success which are realistic, achievable and tangible. It is great to aim big, but do it in small steps vs. giant leaps.

4.      Avoid the Jones’s – stop looking at peoples perfect lives on social media and networks. No one puts up stories of their failures or struggles (unless seeking attention). We end up comparing our worst selves to peoples’ best – not fair is it?

To sum it up –

It is natural for all of us to feel we are not as good as people think we are. The roots of it could lie in various factors and conditioning. These feelings are also not perpetual or constantly in the foreground. These have triggers. It is important to look out for those. However, what is more important is to learn to deal with these lest they become self-fulfilling prophesies. So the next time you feel like an imposter, look at your list of qualifications and accomplishments and how far you have come. Once you do, the knot in the stomach should dissolve and will hopefully relax those shoulders and bring a real smile to your face – not a fake one. 

Only 10% of Indian Unicorns in 2021 were led by women. This is despite women led start-ups generating a 10.1% return on equity vs. the global average of 7.4%

As you would have guessed, I have had a few women entrepreneurs at Brand Couch recently. Women with great ideas, talent and running businesses with tons of potential.

This piece draws from my interactions as a business counsellor. The idea is not to mansplain or patronise but to draw attention to, and explore a recurring theme that cropped up in the sessions with different women entrepreneurs – men have it so much easier! From dealing with vendors and staff, to negotiating and collecting funding and payments! It was male privilege staring me in the face!

Advantage men

Further investigation revealed that male entrepreneurs do have it better with funders for sure. Between January 2018 and June 2020 female-founded start-ups received only 1.43% ($480 million) across 80 deals (Makers India Report 2020 (YS)).

Additionally, men have greater geographical mobility and a support system equipped to facilitate them working outside the home and even away from it. They aren’t hamstrung by safety concerns or family and kids to take care of. The single biggest familial expectation from men is to put bread on the table. 

 

 

Female entrepreneur’s bottleneck

Now, one could argue that at least women of privilege could have access to all these advantages and incentives to level the playing field. However, the question, “what is stopping you?” revealed something deeper hidden in simple answers –

“I know the ideas are good, but what if I am wrong” 

“Who will take a chance with just initial numbers”

“I can’t seem to reason with clients when they get aggressive”

“I need a (male) partner to deal with other men” 

 

Lack of self-confidence and self-belief

Having worked with entrepreneurs and consumers, the ear and mind get attuned to also listening to what is unsaid. While their concerns were valid entrepreneur woes, at a deeper level these women seemed to lack confidence! Not the kind solved by a Chak-De style locker room pep-talk.

 

Good girls are meant to look pretty and not heard 

Further investigation showed that women were socially conditioned to ‘hide’ their potential. In the business world, they either ‘act small’, or tend to veer to the other extreme and ‘behave like men’ or how they think men want them to act. The latter only reinforces stereotypes in Prada shoes. The former reminds me of a Margret Atwood quote, “men are afraid women will laugh at them. Women are afraid men will kill them”. In this case, women entrepreneurs potential. 

 

What can one do?

In what would seem a no-win situation in an apparently male bastion, I am listing two pieces of advice that worked –

1.      Don’t shrink, don’t hide. Stand your ground – this may sound simple but is tough. Standing ones ground and asking for what one wants takes courage. It involves redrawing boundaries which is always tough, especially given women are ‘conditioned’ to be agreeable. Secondly, it needs people to be assertive, not aggressive. The combination can be daunting to put in practice.

What to do – one, when about to approach such a situation or in one, repeat the
6-4-10 breathing exercise
3 times as detailed in a
previous post
.. The oxygen relaxes you and exhales the tension from the muscles. Next, remember a time when you were really proud of yourself. Recall the feelings of positivity, confidence and happiness. This stops you from shrinking. Thirdly, keep a favourite key ring, lucky coin, or mascot handy. Holding on to this will make you feel comforted and safe.

2.      Be YOU – trying to be ‘one of the boys’ only shows one is trying too hard for validation. It also takes away the inherent advantage of being a woman amongst men. I always tell the women founders there are always enough men in a pissing contest. They don’t need another. Be the one who makes them want to zip up and sit straight.

Remember – women have a unique ability to multitask, and an intuitive sense of situations. They can successfully navigate team dynamics with minimal friction and get the job done. A certain sensitivity that doesn’t shy away from being human. The ability to effortlessly see and grasp what men can’t seem to see staring at them. 

 

To conclude

In the labyrinth of entrepreneurship women have an additional challenge to overcome – of self confidence and self belief. They need to remember to not shrink just to be agreeable and sweet. Neither do they need to be yet another man in a man’s world. They have no reason to back down and should own their inherent advantages and be their authentic selves, making the difference they want to see. 

• Only 23 of the 100 unicorns, or startups valued at $1 billion or more, managed to achieve profitability for a financial year

• Zomato and Nykaa had shares are down 67% and 43% from their peaks, respectively. Paytm even more so.

These are some figures I showed a client recently during a counselling session. With the 100th Indian Unicorn making headlines the pressure to get larger valuations and achieve the coveted Unicorn status is only getting more intense.

007’s dilemma

For this article, let’s call my client 007, for his ambition and tenacity to get stuff done.

Now, 007 has a great business idea – which works well! In start-up parlance his ‘proof of concept’ made him ripe for his first major round of funding – all within approximately eighteen months from starting. The progress is commendable and great by all measures.

I wondered why he was in the chair across from me – a business coach and therapist. Everything seemed to be going rather well. Turns out he felt inadequate and not successful ‘enough’ because he didn’t turn into a Unicorn yesterday!

The mission

He had two clear asks of me. One, how to get Unicorn valuations, and how to handle to pressure until then and thereafter. Credit where it’s due, the man is aware of the pressure he is putting himself under.

Situation evaluation

One way of dealing with these objectives would be to dive right – set goals and milestones, draw a roadmap with checkpoints, etc.

Alternatively, one could pull back for a moment – and think! I simply asked 007 ‘why’ he wanted to become a unicorn so badly. There were the obvious answers; the fame of a great valuation, to get rich, be successful as he saw it… Deeper probing and an uncomfortable silence revealed that he really wanted a well-timed exit, and move on to the next business ‘idea’.  

The gamble

Looking at the start-up news section and one can’t blame him for wanting what others get seemingly easily. Call it the culture of the ‘start-up roulette’ that has been created in the last few years. Never know which ‘idea’ gets funded and which viable ‘business’ is left to fend for itself or vice-versa.  

There is however, one big difference that the ‘house’ and founders tend to overlook. Ideas get valuations but it is a ‘business’ that really survives and gives a return on investment!

While founders want to surf the funding tides, I feel the onus of creating the waves and the environment lies more with the funders. All free markets cater to demand. Founders come up with what they think VC Funds want to fund. It was earlier about consumer packaged goods, ed-tech, and now fin-tech seems to be the flavour of the season (or perhaps something new).

Indiscriminate funding of ‘ideas’ instead of actual businesses affects the fund’s own hit rate and cash burn. Additionally, it also creates a false air of optimism that makes people think any half decent ‘idea’ will get funded.

Both parties eventually get a rude shock at the ‘proof of concept’ stage. End consumers pay for a tangible product or service that is differentiated, and delivers on a clear promise. As the ‘idea’ flounders and fades into oblivion, it leaves the funders poorer, and founders more damaged than rich.

Is the party ending?

With rising interest rates and subsequent inflation, funding streams are seeing a ‘rationalisation’. Quarter-on-quarter data points to a slowdown in Indian startup funding too. From the record quarterly funding of $17.1 Bn in Q3, the tally fell to $14.5 Bn in Q4 2021 and then $11.8 Bn in Q1 2022. There is now lesser money to go around, and hence greater discernment. The recent downsizing and firing by Vedantu is not the first, nor the last in the list of casualties. The real victims or collateral damage will be the employees left out in the cold, in some cases even without their final settlements.

The clean-up

As my session with 007 came to a close, we agreed on two things. One, that he needs to remain focused and not get distracted nor seduced with stories of crazy valuations. It is alright to grow a little slower. Secondly, he needs to continue building a tangible business that is differentiated, offers customers genuine value and experience.

At the end of the day, I think we all just need to step back and remember that while ideas may get valuations for now, but only real, tangible businesses create long term value!

“When 25 million people leave their jobs, it’s about more than just burnout.” – NY Times

Last weekend I caught up with a friend for an ‘urgent’ lunch. Over a meal she told me she was [done] with the corporate life and ready to turn entrepreneur. My friend is one of increasing number of seasoned professionals wanting to give up their predictable careers and fat salaries for the excitement of entrepreneurship.

Over lunch, as my friend spoke of her various ideas with infectious energy, the entrepreneurship and marketing counsellor in me kicked in. I asked her the question I ask other aspiring entrepreneurs I counsel – ‘why’ do you want to start a business?’

A quick disclaimer. As a brand therapist, I neither dish out commandments, nor permissions to do as people please. My job is to get them to ask the right questions and guide them through the process of answering those questions for themselves

The rest of the conversation with my friend followed a similar pattern as with other clients –

Me – so ‘why’ do you want to start a business?

Client – to make money, get rich, and retire sooner after selling up, to be my own boss, done with 9-5 routine and office politics, make money for myself and not others… (there is a clear division between financial and personal reasons for taking the plunge)

Me – could you achieve these in another way? Maybe, change jobs, more flexible work arrangement, or social work on the side…?

Client – yes, but I rather do my own business to achieve these.

Me – so why do you want to start a ‘business’? 

Client – … (pregnant pause since the basic premise itself is being questioned)

Some common reasons I found listed in articles on the subject are; having more control over ones time and activities, becoming rich and retiring soon, following ones passion, creating jobs, finding ones purpose and meaning in life.  

My own experience has shown that answers tend to fall in 2 broad buckets – 

1.      The end goal – these are the more obvious ‘rewards’ of entrepreneurship. This is how people envision their lives ‘after’ they start their businesses and achieve some success. This ‘vision’ can be further divided into financial (make money, retire early, sell up), and personal rewards (flexible timing, out of office rat-race, stress and deadlines).

2.      Motivational bucket – these are non-monetary, emotional reasons for wanting to start a business. The sense of purpose that makes people jump out of bed vs. putting the alarm on snooze. I am listing 3 big ones from my own experience – 

A. Creative expression – after spending an entire career following instructions, bringing someone else’s ideas and vision to life, people want to break free – literally! They have bided their time giving suggestions for marketing campaigns and TV commercials. Now they don’t want to hold back or hide their creative side.

Businesses they explore – they tend to have business ideas that let their creative side finally breathe! Possibly why many professionals want to open cafes, restaurants, bookshops in the hills or beaches, or pursue artistic ideas. 

B. Corporate fatigue – I hear clients and friends talk of how they are simply done with the rat-race, corporate rut, office politics, unrealistic targets, and tight deadlines. These are not people shy of hard work but just done with the constant pressure and insecurities, mostly artificially created.

Businesses they explore – tired of running on the treadmill, their business ideas tend to veer towards travel, adventure, hospitality, wellness, healthy eating, and slower living.   

C. Mid-life rebellion – many professionals spend a lifetime building ‘incidental’ careers. They picked their subjects in high-school and followed them up with a degree and job placement, simply going with the tide. Now at around 40 years of age, they have a cash buffer, experience, wisdom and a network. They realise they now want to do what they ‘want to do’.

Businesses they explore – such people may try to build on a hobby, private passion, give back to the community, or try to monetize an idea compatible with their personal belief system and world view.

To summarise, you may think if the ‘why’ of getting into business matters at all. Honestly, it does. This difference becomes apparent in not just in the choice of business but also how you approach it.

Hopping onto a bandwagon to chase an opportunity vs. doing something out of genuine interest will show in your ‘sustained’ motivation levels, how you deal with bottlenecks, frustrations and successes which are part of an entrepreneurs daily life.  

So as our lunch drew to a close, I left my friend asking herself ‘why’ she wanted to start a business. Was it to get away from the corporate rat race, to live out a passion, or finally walk her own path? Whatever her reasons, knowing and being aware of them will make the difference between living her dream or going back to work, just at a different desk. 

Welcome back dear reader, it has indeed been a long break since I last wrote. In my defence, I was working on starting an exciting new journey. To know which direction I am headed, read on.    

Today’s piece is about how in times of start-ups we cheer for the next Unicorn, but lack an active support system for the neglected entrepreneur. A lot like betting on a race horse but ignoring the jockey.  

72% entrepreneurs are ‘reportedly’ affected by mental health issues vs. 48% non-entrepreneurs. This, according to one of the most comprehensive researches on the matter.

Imagine these numbers in an under-reported and under-diagnosed country like ours. Add to that the entrepreneurship-funding-IPO fever and fervour. The silver lining is that all the recent chatter around mental health found attention and mention in the finance minister’s budget speech.

Stress is conveniently blamed for most mental and physical problems of business owners. However people remain largely silent on the lack of support system for entrepreneurs. Presence of which could possibly reduce their stress to begin with.

Instead, the ‘always on’, ‘no down time’ behaviour is glorified while the price paid is ignored. This toxic culture is further perpetuated by other entrepreneurs who are always worried about losing out on the next sale, customer, or round of funding.

As someone who works with entrepreneurs and businesses, I have put down some tried and tested tools for business owners and entrepreneurs to de-stress. 

First, you need to look after your physical health. Yes, many of you may proudly declare that you don’t have the time to sleep or eat, let alone exercise. However, you are no good to anyone if unwell. You need to try and get adequate sleep so you are well rested, recharged, and alert the next day. You also need to eat healthy to keep your body’s natural immunity and strength topped up. Lastly, you need to fit exercise into your schedule. The endorphin release will make you feel good, relaxed and also give you some ‘me’ time. These breaks are known to be conducive to quieten the mind, allowing head space for fresh thinking.  

Second, seek out other business owners. Not necessarily competitors, but other entrepreneurs with who you can discuss some of your issues. They may have gone through a similar journey and have some valuable insights and learnings for you. Alternatively, you might be able to help them out. On the entrepreneurship journey, it is reassuring to know you are not alone. People have always needed to stick together to survive and thrive, and entrepreneurs are no different. 

Third, find a coach or mentor who can guide you along the road. Family and friends can love and cheer you on, but cannot always understand or be available. There will be times when you may feel stuck, overwhelmed or frustrated. Having someone who understands what you might be going through emotionally or operationally can really help put things in perspective and find ways to overcome temporary bottlenecks.  

Fourth, pause and breathe… you can follow the 6-4-10 breathing method. Just breathe in through your nose to the stomach to the count of 6, hold for the count of 4, and empty your lungs and stomach through your mouth to the count of 10 or more. Repeat at least 3 times. Variations of this technique are used to overcome anxiety, nervousness, stress and even panic attacks.

Also, experts recommend ‘forest bathing’ to (re)connect with Mother Nature. Make sure to at least turn your phone on silent so your mind can disconnect, slow down and take a breather from the business treadmill.

To briefly recap, as an entrepreneur there is no escaping stress. One can only take small measures to actively manage it. You need to sleep, eat, and exercise to look after your physical health. Reach out and connect with other entrepreneurs or a coach to help you navigate and keep things in perspective. Finally, you can try breathing exercises and switching off for small breaks to recharge.

These methods are just a guide in times where we lack supportive, non-judgemental spaces for business owners. Someplace that tells them it is alright to arrive on their own time or not even at all! That it is alright to not be alright, and to succeed as per your own standards. In the race to be the next Unicorn, it is important for the jockey to not fall off the horse.

This article was first published on LinkedIn, on the authors personal blog.