Why It’s Important for Entrepreneurs to Invest in their Mental Health
New business ventures are challenging, and that’s why it’s so important to be in tune with your emotions throughout the process. However, for many entrepreneurs it can be lonely at the top with long periods of social isolation, and no time to break for a mental health day. And that’s the trouble with constantly being on the grind – your mental health – your rest, relationships, sleep, play, and peace of mind – take a back seat.
Effects of entrepreneurial stress
In order to thrive in the business world, entrepreneurs often feel they must project a particular image at all times (productivity, excitement, busyness, high-energy, etc.), even when things aren’t going well. This immense pressure can be overwhelming.
According one study shows, entrepreneurs are 50% more likely than non-entrepreneurs to suffer with mental health issues. Not only so, but in many cases, these entrepreneurs also lack certain insurance benefits as self-employed individuals leaving their growing mental health challenges as more likely to go untreated.
Adding to this strain of finances and time, there are many common feelings and symptoms disproportionately plaguing entrepreneurs, such as: burnout, anxiety, rejection, insomnia, and fear of failure – all of which contribute to low self-esteem, chronic stress, depression, and relationship challenges. In the long-term, these experiences have proven to negatively affect one’s ability to perform and make sound decisions, often to the detriment of the company’s chances of succeeding.
So, how can you invest in your mental health?
The road to profitability and sustainability is wrought with various problems and setbacks, but if you have the tools to persevere despite the challenges and create moments of pause amidst the chaos, they’re easier to overcome and you can keep moving forward from a place of healthiness. Keep these tips in mind as you move forward in making your idea a reality:
Maintain a support network
Combat isolation by regularly connecting with others – friends, family, or a small circle of business contacts & fellow founders – individuals who can provide you empathy and containment, understand your experience, and be a sounding voice of wisdom and trust. Supportive relationships will help you better engage the fluctuation of emotions while starting and growing a business, and provide a larger perspective and context for your challenges. Additionally, because mental illness and failure are inevitably tied to entrepreneurship, counseling is another solution to help you along your journey as an entrepreneur.
Take time for self-care
Manage expectations and strive for a healthy work-life balance. Separate yourself from your business for a brief time each day to support your personal needs, such as: physical activity, nutrition, relaxation, and rest. Remember why you started this company in the first place – it’s probably more dynamic than simply maximizing profit and self-employment. Stay rooted in your why and return to it often. Don’t lose sight of it and schedule time in your daily routine to reflect each of the elements that contribute to your why. Some major red flags that you are not caring for yourself and have lost sight of your why: not getting regular sleep (7+ hours); not eating 3 meals per day; not spending time with close friendships; not exercising and getting enough time outdoors; not playing and enjoying your favorite hobbies/ activities; not taking time to reflect.
Document your experience
Keep a record of your founder story – both success and failures – so that you can process the emotions, learn lessons from your mistakes, and move towards the future in light of the past. Remember everything you’ve put in, received, and experienced that has shaped this journey, and refer back to this story as a practice of celebration and self-compassion. Putting your day in the context of the journey you’ve been on with your company will help you be more present and mindful of where you are now. You can always change the course of your story with self-reflection and care.
For other inspiration and mental health exercises, try the Storyline app today (available for download in the App Store and Google Play Store)!
And if you or someone you know needs help, please call 1-800-273-8255 for the National Suicide Prevention Lifeline.