Meet Mike Trup, a seasoned entrepreneur and advisor with a journey that spans over two decades. As the founder of a software distributor, Mike transitioned from the political landscape of Fortune 100 companies, seeking autonomy and the liberty to shape his destiny. Through this conversation, Mike offers candid insights into the highs and lows of entrepreneurship, the challenges faced, and the strategies that helped him remain grounded.
What inspired you to become a founder?
I grew tired of the politics involved in being a senior executive in Fortune 100 companies and desired autonomy.
During your time as a founder, have there been specific instances where you’ve felt particularly stressed or overwhelmed? If so, could you share a brief overview?
Throughout my 20-year journey building my company, I faced numerous challenges, such as key customers or suppliers changing strategies, which forced us to pivot and make redundancies. We also underwent two exit negotiations before successfully selling the company.
What warning signs indicate to you that you might be feeling stressed or overwhelmed?
I experience wake-ups at 3 a.m., ruminations, and difficulty sleeping. Once daylight arrives, I fall back asleep, only to have to wake up shortly after for work. I also find myself feeling irritated with staff members.
Could you share an instance when your mental health impacted your business and how you navigated through that?
Being a business leader required me to consistently portray calmness and focus, which added to my stress. I resorted to meditation to detach from the emotional weight of situations, such as having to conduct mass redundancies or closing a division.
Can you identify specific aspects of your role as a founder that have had a substantial impact, either positive or negative, on your well-being?
The first five years of my founder’s journey were the most enjoyable. However, as the company grew and the team expanded, I found it less satisfying to transition from frontline work to managing people. It’s essential to hire individuals better than you at specific roles, but this also distances you from the excitement and brings you closer to people management.
Who are in your support system, and how do you engage with them during challenging times?
I rely on my family, especially my adult sons, and a few close friends.
Have you ever considered professional help to address mental health concerns during your founder journey? If so, how was that like?
I sought help from a counsellor/therapist during simultaneous business and family challenges. I also explored various self-help therapies, especially for sleep and relaxation. Through this process, I learned about self-care and the benefits of mindful meditation.
What are some practical strategies you’ve implemented to maintain your mental health while managing your startup?
I partnered with a co-founder who possessed a different skill set, which provided a sounding board for discussions and allowed me to take breaks without guilt. This partnership brought diverse perspectives and aided my growth. Meditation also played a significant role in enhancing my management style.
How do you strive for a balance between your professional and personal life? Are there any particular boundaries or practices you’ve found helpful?
Since selling my business, balancing my professional and personal life has become more manageable. Apart from meditation, I’ve been an avid reader of self-help and psychology books, which has improved my self-awareness and the quality of advice I offer clients.
If you could offer one piece of advice to fellow founders on managing well-being or stress, what would it be?
Build reserves as soon as you can, both financially and emotionally. These reserves will assist you in navigating the tumultuous waves of entrepreneurship.
Ending Remarks
Mike’s story paints a vivid picture of the entrepreneurial landscape, marked by unexpected challenges, strategic pivots, and personal growth. His experience underscores the importance of resilience, self-awareness, and the power of support systems. Through his commitment to self-care, be it through meditation or engaging in meaningful reading, Mike showcases the significance of well-being in the tumultuous journey of entrepreneurship. His advice to fellow founders, emphasising the need to build emotional and financial reserves, serves as a beacon for those navigating the entrepreneurial seas. Mike’s journey is a testament to the power of persistence, adaptability, and self-awareness in the face of adversity.
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