Flourishing While You Grow Your Business
As an entrepreneur, you need a clear vision of what you want to achieve and a strong commitment to your purpose. You must also be willing to invest your energy and resources wisely to achieve your goals.
It’s easy to envision all the ways that your life can be great when you achieve your business goals. The challenge is to nurture your physical and psychological wellbeing so you can sustain your momentum as you progress down your path of business growth. So what’s an entrepreneur to do?
Positive psychologists have identified five essential factors that contribute to lasting wellbeing: positive emotions (P), engagement (E) in activities, positive relationships (R), a belief that life has meaning (M), and accomplishment (A). (This is referred to as the PERMA model.)
THIS first post will introduce you to these PERMA factors and ways that they are important for entrepreneurial success. In future posts, we will go deeper in different aspects of this model and how I apply these ideas my work with my coaching clients to energize their efforts and sustain their overall wellbeing.
Positive Emotions (P)
For us to experience well-being, we need positive emotion in our lives. Any positive emotion such as peace, gratitude, satisfaction, pleasure, inspiration, hope, curiosity, or love falls into this category. The message here is that it’s really important to enjoy yourself in the here and now, just as long as most of the other elements of PERMA are in place, too.
Why is this important to you as an entrepreneur? You are more likely to attract and keep customers, if they see that you are genuinely glad to meet them and grateful for the opportunities to serve them. Being curious can help you discover and invent strategies for improving your services.
When you are truly engaged in a situation, task, or project, you experience a state of flow: time seems to stop, you lose our sense of self, and you concentrate intensely on the present. Your regrets about the past and fears about the future drop away.
Why is this important to you as an entrepreneur? if you can develop your skills for achieving flow states you will find that you are less likely to feel overwhelmed–and more likely to enjoy–mastering the myriad activities of running your business.
Positive Relationships (R)
As humans, we are “social beings,” and good relationships are core to our well-being. Psychologists have consistently found—and we know from personal experience–people who have meaningful, positive relationships with others are happier than those who do not. Relationships really do matter!
Why is this important to you as an entrepreneur? When you are in business, you are not just selling product, your goal is to establish positive relationships with your clients so that they know, like and trust you—and, by extension your busines. When they do, they are much more likely to be loyal customers and be happy to refer people they know. As you grow your business, you will need to build an organization composed of effective leaders and productive teams. Working to establish positive relationships with members of your staff, and facilitating positive relatiohships with each other will make your enterprise a place where people want to work—and ultimately which gives superior services to your customers.
Meaning comes from serving a cause bigger than ourselves. Whether this is a specific deity or religion, or a cause that helps humanity in some way, we all need meaning in our lives to have a sense of well-being.
Why is this important to you as an entrepreneur? What is compelling purpose that propels you through your life, that launches you out of bed every day, and fuels your passion? This is called “the big Why.”
Many entrepreneurs start their businesses because they want to earn more money. Many are driven by the desire for greater control over and flexibility in what work they do and how they do it. Over time, however, the lure of material success becomes less compelling, and other goals and values take on greater importance. Many entrepreneurs with mature businesses report that they are interested in creating legacies for their families, communities, the country or the world. The point is, they want to create something meaningful that’s going to outlast them. This motivation is one of the strongest for entrepreneurs. There is no “app for that” and such legacies outlast accumulated wealth or experiences. Keeping your legacy in mind from the beginning can guide your decisions and help keep the routine work of business meaningful. More on entrepreneurs’ motivations.
Many of us strive to better ourselves in some way, whether we’re seeking to master a skill, achieve a valuable goal, or win in some competitive event. This factor also includes the role of grit, the ability to persist in overcoming obstacles in pursuit of long term goals. As such, being motivated to achieve mastery and find satisfaction in our accomplishments is also contributes to our ability to flourish.
Why is this important to you as an entrepreneur? When you become an entrepreneur, you are entering a new universe where you become your own Chief Learning Officer (CL), motivating yourself and anyone you work with to learn how to grow a successful business. You will be called upon to master a product knowledge, business systems financial management, rapidly changing technologies and marketing. As you succeed in these areas, you are more likely to grow a business that is successful in your industry. Realistically, not all your efforts will be successful, so it is important to be psychologically tough, to have grit, so you can regroup and recover after failures and continue to work toward your goals.
HOW CAN COACHING HELP YOU AND YOUR BUSINESS FLOURISH?
As you read through these brief descriptions of PERMA factors and how they play out in the business world, did experience excitement about all your opportunities to flourish? Or, did you find yourself feeling just a iittle anxious (maybe more than a little 😉), worried about whether you had enough of all the PERMA conditions in place for you and your business to succeed?
You can do something right now to allay those fears. Contact me! As your coach, I can be your ally for helping you flourish. I look forward to using the powerful EXO 10-step coaching process and other positive psychology techniques to identify and deploy your strengths and use them to compensate for the less robust areas of your life and work.
I look forward to hearing from you.