Building resilience and mental health for soloists with Leanne Faulkner

On this episode of Flying Solo, Cec Busby sits down with Leanne Faulkner, a small business mental health expert, researcher, and former entrepreneur. Leanne shares her inspiring journey from building Billy Goat Soap—a business sparked by her son's eczema—to becoming a leading advocate for the mental health and wellbeing of soloists and micro business owners. Leanne offers fresh research insights and practical strategies tailored specifically for solo business owners. Tune in to hear about the unique pressures facing soloists, how to build resilience, set healthy boundaries, and the importance of community and continued learning to thrive as a one-person business.

Key Topics

1. Unique Pressures for Soloists and Micro Business Owners

• Soloists often wear multiple hats, handling everything from admin to strategy without the support larger businesses have.

• Isolation is a major challenge, as many work from home without the informal support networks found in a traditional workplace.

• Financial strain is common, with many soloists paying themselves last and rarely having resources for self-investment.

• The lack of formal structure or HR resources means boundaries and self-care practices often fall by the wayside.

2. Strategies for Building Resilience and Maintaining Mental Health

• Establishing clear workplace boundaries (e.g., defined work hours, separation of work and personal life) helps prevent burnout.

• Building and maintaining peer networks, such as joining business groups or coworking spaces, is vital for emotional and practical support.

• Forming or joining accountability or support groups can provide both business and wellbeing check-ins.

• Continual self-education and openness to learning play a crucial role in resilience and thriving as a soloist.

3. The Importance of Control and Power in Business Owner Wellbeing

• Thriving soloists typically have systems that help them feel in control—such as client agreements, prepayment systems, and sales/cash flow forecasts.

• Having an exit strategy from the start allows for more confident, strategic decision-making.

• Recognising and addressing power imbalances in client relationships (e.g., saying no to unreasonable demands or unpaid work) is essential for mental health.

4. The Need for Broader Support and Policy Changes

• The responsibility for small business mental health shouldn’t fall solely on owners; big businesses and government should enact policies that support their wellbeing.

• Advocating for fair compensation when small business owners provide expertise to corporates or government (e.g., through focus groups or consulting).

• The business ecosystem should develop safeguards like fair deadlines, timely payments, and clearly communicated expectations to protect small suppliers.

• There has been progress with resources (e.g., New Access, Ahead for Business), but extending the conversation to policy is the next step.

Time-stamped overview

00:00 "Entrepreneurship and Mental Health Insights"

05:10 Entrepreneurship's Toll: Depression Struggle

08:52 "Challenges of Micro Business Owners"

13:41 "Leveraging Informal Support Networks"

16:01 Thriving at Work: Key Insights

20:08 Solo Entrepreneurs: Balancing Control & Wellbeing

23:17 "Work Control and Financial Planning"

25:55 "Business Strategy: Chess vs. Checkers"

31:09 Compensating Experts for Government Focus Groups

33:32 "Rethinking Professional Networking"

Learn more about your ad choices. Visit megaphone.fm/adchoices