Experiencing Burnout While Scaling To Seven Figures
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Managing a growing business can be exhilarating, but it can also be just as overwhelming and exhausting. As a six or seven-figure business owner, you've likely faced the rollercoaster of emotions that come with scaling your business. Amid the excitement, burnout can creep in, threatening to derail your progress and motivation in a hurry. It's crucial to recognize this before it’s too late and take steps to address it so you can stay on track!
In this week’s blog, we cover:
The impact of burnout on business owners
Practical tips for managing your finances during times of burnout
The importance of self-care and finding balance in your business
How outsourcing and delegating can save you
Understanding Burnout as A Scaling Business Owner
In today’s culture of girl-bossing way too hard and hustling more than ever, some wear burnout like a badge of honor. But we’re not about that life here! After scaling multiple businesses to seven figures and experiencing really fast growth, it’s safe to say burnout has most definitely been a part of my journey, but it’s not something I like to keep around. If you’re on a journey of scaling your business, you will likely face burnout a few times and probably already have at least once! Just know that you are NOT alone, and it WILL get better!
Where does burnout even come from? Sometimes it seems like it comes out of nowhere, other times it seems like a slow uphill climb to the top of burnout city. Burnout is a state of emotional, physical, and mental exhaustion caused by prolonged stress. Many of us, especially those who have seen rapid growth, experience burnout. The excitement of building something new can quickly turn into the harsh reality of managing a complex and demanding business.
We’ve all watched the business landscape drastically change over the last couple of years, and things seem to move at even more rapid rates in the online world. Many people have found new opportunities, took the entrepreneurial leap, and experienced all of the extreme highs and lows that come with it. We’ve seen people quit their 9-5 and create million-dollar companies in just a few years, and lots of entrepreneurs experienced a surge in their businesses nonetheless. The fact of the matter is that things change. The economy shifts, things happen all across the globe, life goes on, and it all has an impact on business as we know it. Then, the reality of running and scaling your empire sets it, and it’s not always excitement and joy. Sometimes it’s just downright hard.
You Have To Learn To Listen
We've been there too. We know what it's like to feel overwhelmed by the demands of a growing business. The constant pressure to stay consistent and push through as the burnout creeps in can be tempting, but it's essential to listen to your body and tune inward. Ignoring burnout is NOT going to make it go away, and in my experience, only makes matters worse. When your body and mind are asking for rest and you have to learn to listen. If you don’t, it could end up backfiring even worse and as a business owner, you have got to take care of yourself. Remember that taking care of yourself is taking care of your business.
Make time to do things that you enjoy OUTSIDE of your work. What makes you happy? Make time to do more of it. Focus on things that light you up in life. It’s OKAY to feel burnout, it’s normal. But you have to put YOURSELF first and do the things that bring you joy, make you happy, and ignite that spark that lives inside of you.
Everyone’s situation and scenario is different and we just want you to know that we’re here for you. You are not alone, and MANY of us are going through a phase of burnout right now. When things get hard, know that they won’t stay that way forever. You hear us say this ALL THE TIME, but this is when you have to learn to lean on your support system and take a step back to keep moving forward.
The Financial Impact Of Burnout
Burnout takes its toll on you mentally and physically as a business owner, but as you know-it all works together and this can trickle down into other things too. Experiencing burnout could lead to making different decisions and not seeing everything clearly with your mission and vision in mind. This is one area where it can be super advantageous to have the right team in place to handle things for you if you are feeling burnout and need to take a step back. The best thing that you can do to keep your finances secure is to be proactive. What does this look like?
Delegate: Outsource your financial management to a team that will support you, stand behind you, and take care of things when you need to step back.
Automate: Utilize your tools and software to automate invoicing, bill payments, financial reporting, etc. Even if you are working with a stellar financial team, there is still a lot that can, (and should), be automated to increase efficiency and reduce errors.
Check-in!: Set up regular meetings with your financial advisor or bookkeeper to review your financial health. These check-ins can help you stay on track, make informed decisions, and give you an opportunity to ask your questions and get the support you deserve.
Understand your cash flow: Understanding your cash flow can give you so much financial power. We love helping our clients with this by projecting their cash flow so that they know exactly when their income will dip and they will need to bring in more revenue. Knowing this info gives you a huge advantage in being proactive with your financial health.
We really can’t stress the importance of having the right team to support you enough. Especially when it comes to finances, you are way too close to home as the CEO and you need someone in your corner who is not emotionally attached to any outcomes, and who can still take care of the finances while you recover from burnout. Having the right team around you can allow you to take a step back if you’re experiencing burnout and not have it negatively impact the financial health of your business.
Take a Step Back To Scale Forward
If you’re in a burnout phase right now, the best thing might be for you to take a step back. Take yourself out of the day-to-day, take a break form all of the girl bossing, and get back to YOU. You have to be careful not to lose yourself in your business and remember that taking care of yourself is taking care of the business. So, take this as your permission slip to do whatever you need to in order to put yourself first and get your spark back. Identify the areas where you can let go of control and outsource to give you the space you need to recharge and come back stronger. It's all about finding balance and making mindful decisions to support your well-being, which will ultimately support your business and those around you too.
We all will experience burnout. It’s a natural part of being a business owner. By taking care of yourself and finding ways to clear your plate, you can navigate through this challenging period and continue to scale your business beyond your wildest dreams. We’re here for you every step of the way!
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