If you’re an entrepreneur, you’re more likely to entrepreneurs suffer from mental illness than the general population, according to new research by University of San Francisco academic Michael A Freeman. Entrepreneurs are three times as likely as the general population to have depression or drug abuse problems. However, despite the admiration that entrepreneurs get, their difficulties are generally neglected. Entrepreneurs and high achievers have a laser-like focus. There are certain disadvantages to all of these positive aspects. A common characteristic of persons in this position is that they are perfectionists who put the demands of the organization before their personal interests. They are more vulnerable to mental illness as a result of these traits.
An entrepreneur’s vulnerability to mental illness is increased when they are under a great deal of stress. It’s easy for entrepreneurs to get into a “never stop working” mentality, dismissing opportunities to take care of themselves. Opportunities to have fun or meet new acquaintances are missed. Stress is a common side effect of this lifestyle. In most cases, entrepreneurs lack self-assurance and a sense of command over their environment. A steady income is out of reach since they are unable to predict how much money will come in. Anxiety, depression entrepreneurs, substance abuse, and eating disorders are all made more likely in an uncertain environment.
Manage your image
The loneliness, alienation, and misinterpretation that many entrepreneurs experience is well-documented in the literature. Social interactions are increasingly dominated by networking. “Manage your image” and “avoid displaying weakness” are common aims for entrepreneurs. As a result of their inability to put their affairs in order, they feel ashamed. Isolation breeds illness, and illness breeds isolation. This self-doubt and harshness may contribute to poor mental health among entrepreneurs. They hold themselves to a high standard and are embarrassed by their difficulties and refuse to seek help. With their company, they have a strong sense of self-esteem and self-worth. It’s common for entrepreneurs to feel isolated because of a merger of their personal and professional identities.
Entrepreneurship is portrayed incorrectly in the media as well. In popular culture, it’s often portrayed as glamorous and simple, with little mention of the struggles that go along with getting where you are. Business people may also fall victim to this form of fraud. It may also encourage people to seek therapy since they feel their issues are singular.
Mental and physical wellness
Maintaining both physical and mental wellness is thus crucial for businesses. Mental health difficulties should not be stigmatized by the general public or by businesses. Entrepreneurs will not seek help if they are afraid of being criticized or losing their business. It will help them realize that they aren’t the only ones going through what they’re going through. To that end, it’s important to create environments where business owners may speak freely without fear of being judged. Third, businesses need to be aware of the dangers and take time to care for themselves. A person’s risk of mental health problems may be significantly reduced by practicing self-care, which includes regular exercise, a healthy diet, getting help, and maintaining close relationships with loved ones.
The whirlwind of an entrepreneur
‘Entrepreneurship is like riding on a rollercoaster.’ Similarly, there are highs and lows, much as on a rollercoaster, throughout my professional life, I’ve encountered a slew of them. According to Corrido Acarida, the creator of three start-ups, “I thought I could handle any unanticipated unknowns, especially the ‘downs’ at fast speed,” he adds. In the wake of an award-winning business plan and a string of successful fundraising efforts, Corrido learned the hard way that a crisis may hit at any time and without warning. An emergency cash injection was required less than a year after the company’s inception. This is where he relates his story.
It was a mystery to me for over two months whether or not the business would be open on Monday morning following the weekend. Having to maintain a straight face in front of my workers, customers, stockholders, and even my wife (who was supportive but never ‘in love’ with my company) all contributed to the stress.
The need of displaying bravery
Entrepreneurship, as shown by Corrido’s story, includes higher risk than traditional employment. Your start-up seems to take precedence over your most basic human needs, such as rest, nourishment, safety, and the support of friends and family. You might become burned out. Everyone has had a difficult year, with increasing sleeplessness, anxiety, stress, and melancholy causing them all to suffer.
As a result of increased business risk and employee accountability, founders have also had to adapt. Owners may be hesitant to seek assistance for fear of losing their business. As a result of their fear of coming out as weak or worried, they think they are unable to express themselves. In front of management and investors, statues of optimism and encouragement are essential. They are under a lot greater pressure to show bravery.
The avalanche of options
Elisabeth Kohl Bach describes the emotional rollercoaster. A solo entrepreneur may find the constant barrage of options “taxing and inspiring” in the early stages, according to the author. Because it goes against the grain of most people’s objectives, this is something I never considered before becoming a founder. Entrepreneurs at my stage of company have been the most helpful to me when things become tough. Mental health programmed aren’t nearly as helpful as the chance to openly express oneself and get advice from others who have been in a similar situation.
Recognizing the hints
According to Stuart Halston, a coach and psychologist who specializes in working with businesses, individuals who are burned out are less likely to seek help. For the last decade, he has battled exhaustion as an entrepreneur and professional investor. In his work as a therapist, anxiety is the most common presenting condition, he says. “This is true for entrepreneurs as well as everyone else,” he adds. It’s common for people to suffer from stress and depression at the same time. Because you need to know that you can recover and move on living your own life, I refer to them as injuries. Tension in the present, anxiety about future events and grief for the past.
Entrepreneurs endure the same difficulties as everyone else, but the reasons for this are different. Co-founders, investors, and relationships are the three most powerful emotional triggers for entrepreneurs (whether at work or at home).