Burnout is getting more and more talked about these days, especially among startup community due to the highly driven individuals in the sector.
The expectations we are setting to ourselves are higher and higher, as we’re taught and pressuring ourselves to aim higher, be better, succeed faster and bigger. But is it worth putting it all in in hopes to making it to the top first? Recently we had Tomi Kaukinen from Licence to fail during one of the startup trainings sharing his story about burnout. The main takeaways for founders:
- if you lose 20-30k of your own money with your first startup, take it as a student loan for lessons learnt;
- There needs to be trust between founders and investors. Tell your investors that you’re in a tough spot although you feel you’re letting down people.
- Share your pain. Your friends and acquaintances back you in your healing journey. You might find people in the same situation.
- Burnout can be a physical feeling, not necessarily only mental.
Being an entrepreneur is not easy, it takes a lot to ignite your company, but also takes a lot to admit when you reach the ditch. We all fail and it is completely okay to admit it.
And how might investors be of help? Ask the founders how they’re doing. Build the trust so they’d feel comfortable confiding in you and reaching out to you for help.
When you start doing things you really like, instead of chasing the cash, the balance in life resets itself.
See more about Tom Kaukinen in licenceto.fail and uupumus.fi and join us for the next trainings, coming up on April 13, April 19 and ending the season on final pitch on May 19 as a side event of Latitude59 festival in Tallinn, Estonia.
Read more about how investors can support startups in their journey in FiBAN’s example: https://fiban.org/business-angels-asked-whatsupfounders-1501-times-in-2020/
