Being a Solo Founder: How to Combat the Loneliness of Entrepreneurship
/After more than a year living through a global pandemic that kept us away from colleagues, friends, and even our families, everyone feels like we’re on a first name basis with loneliness.
For many of us, the reopening of the world means an end to feeling lonely. We’re reinstituting coffee dates and business dinners, work-related travel, attending conferences, and meeting for drinks indoors. We’re looking forward to that feeling of camaraderie and emotional connection.
Maybe some of that is coming for the solo founder, but if building a business on your own, your world may not look much different today than it did six months ago.
In fact, watching the elation everyone else feels could make you feel even more isolated. No matter what’s happening with social distancing guidelines, you’re still going it alone. And that can be awfully...well, lonely.
What is loneliness?
When we talk about loneliness, we often discuss it in terms of intimate or romantic relationships — missing someone to come home to.
The truth is, loneliness is more far-reaching, and it can affect us in multiple areas of our lives. You can have a warm and loving spouse and still find yourself lonely at work.
Loneliness is a feeling of distress or discomfort that we are isolated, that we’re not experiencing the meaningful connections we need. I’m not talking about being lonely every now and then, but a pervasive experience of isolation.
Being around people doesn’t remove the possibility of being lonely. You can be surrounded by others and still feel isolated.
Why loneliness matters for entrepreneurs
We’re all lonely sometimes. Why talk about it? Why write a whole article about it?
Loneliness has consequences. It’s associated with a plethora of negative health effects, from depression and sleep disorders to Alzheimer’s disease and heart disease.
The stress of entrepreneurship makes founders susceptible to many mental health concerns, rating higher for stress and worry on the Gallup-Healthways Wellbeing Index than their employee counterparts. Some researchers posit that the personality characteristics that drive people toward entrepreneurship — passion, creativity, energy — are the same characteristics that make them susceptible to depression, hopelessness, and even suicidal thinking.
When you introduce loneliness to an already-stressful situation, the possibility of negative mental health consequences increases. Add in the stigma associated with mental health issues and the glorification of the solo genius archetype — now we’re pushing a struggling founder even further into isolation.
It’s no surprise that solo founders are at greater risk for loneliness. They’re alone.
How loneliness manifests for a solo founder
I spent most of my career being the guy to follow the founder. Every visionary needs an integrator, and I was that person. I never felt like I was the wildly creative, boundless big thinker, but I was the guy who could connect the dots and execute on a plan.
Even when I led the IntroNet team, I wasn’t alone. We all sat in one tiny office in a co-working space. We divided up responsibilities and checked in with each other every day. My entire career in startups and technology companies, I was part of something bigger.
Since I started Trajectify, it’s certainly been lonelier. I have no partners or executives. I’m surrounded by great coaches, but they don’t own the business. They’re not in it full time with me.
While I have people to consult with and get advice and coaching from, no one’s really holding me accountable. There’s no one else with skin in the game.
When you’re going it alone as a founder, you might be missing some critical personal elements of running a business. And the absence of those supports can lead to loneliness.
Someone to hold you accountable
So much of the entrepreneurship game is being accountable for the things you say you’re going to do. And as much as we all want to believe we’re self-motivated, everyone needs someone else to help hold them accountable sometimes. When you don’t have it, you’re at risk of not doing the things you plan to do — and then falling into self-censure and questioning your own capabilities.Someone else with skin in the game
I don’t have to explain to you the overwhelm that comes from knowing the whole business rides on your back. You are responsible for the impact of every decision that gets made. It’s a heavy load, and carrying it on your own can definitely contribute to feelings of loneliness.Someone who has a shared emotional bond
No matter what we do in life, we all want to know if someone else “gets it.” We need that camaraderie and shared journey, the belief that we’re not truly alone in our experience of the world. If you’re not surrounded by other entrepreneurs, you might feel like no one really understands what you’re dealing with.Someone to bounce ideas off
Making decisions all day every day takes a toll, especially when you don’t have anyone to compare notes with or get feedback from. The old adage “two heads are better than one” is often true in the startup world. Having someone else’s perspective can help you see new solutions to your problems.
How to combat solo founder loneliness
The best news about all of this is that solo founders don’t have to be lonely — or alone. There are ways to address each of the elements of loneliness so that you have a better experience and remove some of the mental health risks that come with loneliness.
At a basic level, addressing loneliness as a solo founder is about expanding your community. There are plenty of ways to do it.
Find a co-founder
Finding a co-founder is one of the most obvious ways to handle loneliness, but it might also be the most difficult. It requires a fair amount of work and a lot of luck.
Yes, a co-founder can help you tick all those little loneliness boxes — accountability, skin in the game, emotional bond, and someone to brainstorm with. But deciding to find a co-founder is a little like walking out your door today and saying, “I need to get married in the next 6 months. I’m going to go find a spouse.”
A lot of it relies on building relationships and the serendipity of meeting the right people. You’re not just finding the right personality. You’re looking for someone with the right skills, the right capabilities, the right life situation.
If you have someone in mind who shares your vision and has the right skills to help you move the business forward, then now might be the time. Present them with the idea of joining forces.
But if you don’t know a good contender right now or if you don’t want a co-founder, that’s okay. It doesn’t mean you’re destined for a lonely entrepreneurial life.
See more: Building a Business with Partners: The Good, the Bad, and the Ugly
Hire your number two
Like I said at the beginning, I was never the visionary in my tech startup career. I was the integrator. Sometimes I came in as a co-founder. Sometimes I came in as an employee.
Hiring the right person can completely change your experience of entrepreneurship. The right employee can offer you accountability and help you innovate and look at your product and your company in new ways. Plus, the longer they’re with you, the greater the emotional bond you’ll have over your shared experience with the company.
Hiring someone is lower risk than finding a co-founder, though an employee generally has less skin in the game. You could stimulate a little of that by offering equity in the company or a profit-sharing program.
Bring on trusted advisors
A trusted advisor can offer you accountability and a place to bounce ideas off as well as an outside-in perspective.
If you’re looking for someone to have a little skin in the game, you can offer advisors enough equity that they’re invested in the choices you make.
Consider magnifying the benefit by building a whole Board of Advisors.
And if you’re really looking for the emotional bond, a true mentor may offer that closeness and understanding. If they’ve been where you are right now, they may get what you’re going through like no one else can.
Join a peer group
An entrepreneur or business owner peer group is an excellent way to connect with other founders and build supportive relationships. You can compare notes, get insights, and share the successes and failures of starting your own company.
Members of our peer advisory groups make enormous strides in their growth because of the insight and accountability they receive from the other group members.
The result of combating loneliness is measurable. According to The Alternative Board, members of their boards grow revenue 2.5x the national average for business growth.
Final thoughts
There’s nothing wrong with being a solo founder. In fact, it’s more and more common as the barriers to entrepreneurship decrease.
As a solo founder, you may have to do a little more work to make sure you have the resources you need to stave off loneliness. You’ll need to expand your community — both inside and outside your organization.
As coaches, we help our clients with accountability every day. We also help connect them with peer groups and other advisors that can offer the support they need. Email us so we can help you avoid loneliness and build a strong business.