It’s Lonely at the Top – But It Doesn’t Have To Be

The isolation felt by company leaders is well-documented. Being responsible for a wide range of people, enormous budgets, high-stakes decisions, and commercially sensitive information places huge pressure on Fortune 500 CEOs.

While they may have advisors and technical specialists in the organisation that can provide information to guide their decision-making, many CEOs report feeling isolated.

A Harvard Business Review article put the figure at 55%.

This is as relevant to smaller business owners. Despite the perception that the stakes are lower and, therefore, the pressure can’t be as intense, the opposite is often true. While the Fortune 500 CEO’s decisions could impact the stock price and cost the company billions of dollars, their personal security is not at stake. They may have to face humiliation, and they may lose this particular job, but, unlike the small business owner, they won’t lose their house or the personal investment they have made in the business.

For SME owners, there are fewer people they can talk to because the business is smaller and the hierarchy typically flat. They can’t discuss their business with mates on the golf course because the issues could be commercially sensitive or could revolve around an individual employee, and that could be sensitive. Their life partner, though sympathetic, may not always want to get into the nitty gritty of the business because they may have their own business or career concerns.

The impact on the health of the individual, whether they are a corporate CEO or a SME owner, remains the same.

Making decisions under pressure and in isolation, usually with insufficient information, causes chronic stress. This is a vicious circle, because decision-making under such circumstances is usually poor, which results in difficult consequences – leading to more stress. Only James Bond makes great decisions under high-stress situations.

Kelli Thompson reports in Fast Company that research shows that under high-stress “the brain shifts from thoughtful, deliberate thinking to more automatic, emotion-driven responses. This makes leaders more vulnerable to biased or short-term choices.” But other research showed that a supportive social structure helps leaders make better decisions.

Finding a reliable, informed, committed advisor can be crucial for leaders of companies, no matter their size.

It may be more difficult for SMEs to find such people internally, but that’s where a reputable business consultant/coach comes in. A good consultant is as committed to the company as the owner, but they are less blinkered than shareholders. They know the finest details of the company’s operations, but can maintain a clear perspective because they are not invested in the company. Most Oxygen8 consultants report that, over time, they provide as much individual, personal support and coaching to the business owner as they provide financial or operational advice about the business. Our first priority will always be the well-being of the owner and how we can support them in their quest for their ideal life.