3 Tips to Survive Healthcare Entrepreneurship

Here are 3 things that I believe can help anyone, but especially business owners, as they navigate the emotional rollercoaster of work & business ownership:

1) Get Clear on Your Values & Desired Future State:
-Why did you get into business ownership? What do you hope to get out of it in the end? Answering questions like this helps you put the stress you may be currently feeling into the context of your vision for your life (or, your desired future state). Sometimes, all it takes to make it through a stressful time is realizing that this situation is a stepping stone in achieving some greater goal or outcome. It also helps you make business decisions as you navigate stressful situations. If a business decision may improve your stress, but doesn’t align with your values or end goal, then it gets immediately removed from consideration, which reduces the options and helps decrease decision fatigue.

2) Prioritize Self-Care:
-I know this one seems way over-stated. Everyone talks about self care and well-being. But here’s my take: by self care, I mean you need to prioritize physical and mental health. That means, especially as a business owner under a lot of stress, you need to eat clean and do something physical with your body: run, lift weights, practice jiu jitsu, etc. Do something that gets your body moving and endorphins coursing through your blood. Not only will you feel better in the moment, healthier bodies also get sick less, recover faster and are able to tolerate the negative effects of stress, like the cortisone that floods your system under stress. And anyways, it’s hard to feel good or better when you’re unhealthy, physically weak, and sluggish as a result of diet and a sedentary life.

3) Build a Support System, Ideally of Other Business Owners:
-I have a group of business owners that I try and do lunch with a couple of times a month. We’re in different industries, but we all experience the same or similar stressors: hiring/firing employees, financial/cashflow management, uncertainty about the future, what to do in certain business situations. Sometimes, it just helps to have someone else to bounce things off of who not only understands what you’re going through, but has actually gone through the same or similar things. Even the most well-meaning peers and colleagues in your industry likely cannot truly understand your situation or stress if they’re not in the business ownership boat with you.

Resilience isn’t some innate quality that you’re born with…sure, some people naturally tolerate more stress than others…

But resilience can be greatly improved or aided by arranging or building scaffolding around your life that helps support and mitigate the effects of stress…

So, if you’re in the thick of it and feeling pressure from stress in your business, take some time to try a couple of things on this list and see if it doesn’t help.

Episode Highlight: “To succeed in business ownership or entrepreneurship, you need to be able to handle a level of stress that is largely unknown and not experienced by many colleagues and peers in your industry. That being said, I don’t think that you have to be some sort of superhuman or “built differently” to be able to tolerate and even thrive under the stressors imposed by business ownership.”

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The Better Outcomes show is a Strata Studios podcast that explores the possibilities of a new healthcare system. Guests range from clinicians trying new techniques and treatments to executives and entrepreneurs exploring new service delivery methods, business models, and organizational structures.

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