New entrepreneurs routinely jump into a startup with a full charge of passion and energy, but often find themselves drained of both after a few months by the workload and challenges. As a result, burnout and loss of passion are consistently listed among the top causes of startup failure, according to many studies. The challenge is find ways to continually recharge along the way.
Of course, this same challenge extends well beyond the entrepreneur, into all walks of life and work. I just finished a new book, Are You Fully Charged? by human relations expert and bestselling author, Tom Rath, which explains well the three keys to energizing all your life pursuits. These keys are meaning, interactions, and energy.
Based on my experience working with early-stage startups, I agree with Guy Kawasaki, that those entrepreneurs who set out to make meaning in the world (a positive change) create the companies that will most likely be successful. I have extrapolated Rath's eight insights on making meaning as key focus principles that every new entrepreneur should take to heart:
In an author survey of 10,000 people, only 20 percent admitted to spending much time doing meaningful work yesterday. Only 11 percent reported having a great deal of energy at work. Clearly, most entrepreneurs are operating well below their capacity, and could be more effective in building their business or making new meaning in the world. If you are one of these, then it's time for you to change before you burnout and disappoint everyone, including yourself.