The psychological price of entrepreneurship

 

 

 

 

 

Build a support network - Having a network of likeminded entrepreneurs is an incredibly valuable tool to have at your disposal. It gives you a channel to talk to people who truly understand what it’s like to run a startup, and share your work stresses and challenges. They may even have some advice and tips of the things that worked for them that you can start to incorporate into your business. This is often one of the benefits our alumni value most in the New Entrepreneurs Foundation’s programme and is replicated across the country in entrepreneur meetups and accelerator programmes.  

Consider bringing on co-founder(s) - having a co-founder not only gives you someone to share the business journey with you but also overcomes one of the biggest personal challenges of entrepreneurs - loneliness. Though you may have loved ones, friends, even a significant other to confide in about your struggles and successes, they can’t truly understand it from your perspective. Taking on a co-founder provides another outlet which you can use as your sounding block, your partner in the difficult moments and the person who can release some of the pressure.



Seek out professional help - Professional help comes in different forms depending on your need. There is the use of a therapist that can help you overcome the mental health effects while the use of a personal coach can help you build coping mechanisms to address challenges you face as a founder. A coach can also help you set personal and professional goals that give you the life you want.

Exercise more  - exercise is one of the most effective ways to improve your mental health. Regular exercise can have a profoundly positive impact on depression, anxiety, ADHD, and more. It also relieves stress, improves memory, helps you sleep better, and boosts overall mood.

Embrace mindfulness - Mindfulness has been used by some of the world’s most successful entrepreneurs including Richard Branson, Arianna Huffington and Steve Jobs.  It an incredible tool which helps people understand, tolerate, and deal with their emotions in healthy ways and has been shown to improve your state of mind that can overcome some of the emotional upheaval often felt by entrepreneurs and can even focus the mind better than ever before. Studies have shown that practising mindfulness can decrease stress and psychological distress, enhance mental health and functioning and increase emotion regulation and self-control. Apps such as Headspace, Calm and Mindfulness can live on your phone making it easy to grab five minutes to practice meditation.


Switch off (when you can) - This means stepping away from the office and looking up from the laptop. I know this isn’t the easiest thing to always do but giving yourself breathing space to enjoy your life will help you re-centre and destress. Taking time to see family and  friends, having a laugh, listening to music  or finding a new hobby will give you a fresh outlook on some of the problems you’ve been facing.