All around the globe, almost 8% of the population has been serving as entrepreneurs and at the same time many of them are facing mental health issues in today’s time. In the challenging market where they are struggling to make their startup a success and survive at the same time, the costs are much higher. There is not just financial cost, but also a mental cost where their mental health is constantly challenged.
The compromised mental health further intellectual ability in decision-making or making financial decisions which further causes financial constraints and issues of stress and anxiety.
Good Mental Health For Entrepreneurs Is Key In Their Success
There are many reasons why young entrepreneurs start to face depression anxiety and other mental health-related issues. Some of them are:
- Financial Constraints
When entrepreneurs start to take loans for their unicorns and to build their start-ups, the burden of these loans and debts are generally much higher than usual and due to this, they experience various kinds of mental health issues such as depression and anxiety.
- Constant Stress
Running a business is not easy and the constant stress of building something from scratch and dealing with multiple roadblocks in the beginning can be challenge. This exposure to a constantly stressful and high pressure environment can impact mental health of entrepreneurs.
- Isolation
Entrepreneurs are usually Type A personality, meaning their focus is solely on work and this can lead to social isolation and this lack of social support puts them further at risk of developing mental health issues.
Mental Health and Entrepreneurship
Entrepreneurs of the world are seen as some of the most creative and innovative brains of the world as they are the ones who bring change in the world with their innovative practices.
A study conducted by the University of Fransisco found that the mental health of entrepreneurs has been deteriorating day by day, due to the pressure of startup and unicorn development. The research has also shown that entrepreneurs developed various kinds of disorders such as bipolar disorder, ADHD and other addictive disorders which has further degraded their quality of life as well.
The results of the research highlighted that entrepreneurs are more prone to suffer from depression, suicidal thoughts, ADHD, bipolar disorder and also substance abuse problems.
The findings of the research shed light on the relation between mental health and entrepreneurship and how mental health for entrepreneurs is very important.
Famous Entrepreneurs Facing Anxiety
Most entrepreneurs go through sleepless nights and insomnia due to business stress and anxiety which further leads to hopelessness and days of anxiety and suicidal thoughts. Many prominent personalities have come forward and talked about the mental health battles they have gone through.
Some of the distinguished personalities are:
- Kate Spade
One of the leading fashion designers, Spade was found dead in New York in the year 2018. After her death her husband released a statement explaining the status of her wife’s mental health and mentioned her vast struggle in battling depression and anxiety.
- Elon Musk
One of the most renowned young entrepreneurs has recently talked about his battle with depression and other related mental health issues. He has also talked about the issues related to mental health such as ADHD, Bipolar disorder manic depression and other related disorders.
Entrepreneurs with bipolar disorder
Bipolar disorder is one of the worst mental health conditions that affects millions of people worldwide and the most common symptoms are mood swings, anxiety and some worse cases depression.
The challenges that are faced by people suffering from bipolar disorder are very critical, and many entrepreneurs have been prone to bipolar disorders some of them are:
- Steve Jobs
The co-founder of Apple one of the most famous business entrepreneurs has suffered from bipolar disorder and has faced severe symptoms such as anxiety, depression and has made him go through a self-isolation phase of life at a certain period.
- Ted Turner
The renowned founder of CNN was diagnosed with bipolar disorder. His workload and pressure to make the company survive in the early days in a highly competitive market added to his poor mental health. Even though he went through a tough phase he made big moves and achieved a high brand value in his industry.
Entrepreneurs and Mental Health
When it comes to entrepreneurs it becomes essential to have good mental health so that they can have better work performance in the fast and competitive world. The urge to become successful early leads to challenges in their mental health and the constant pressure to make the startup work leads to anxiety, depression and other mental health disorders.
It becomes crucial to have good mental and there can be a few things that can be done to manage mental health effectively –
- Building a strong social circle
Spending time with the right kind of people is essential. They can be in your startup field or your friends from school, but being with people who will understand your struggle and will understand the work pressure you have is important. A strong social support will never try to push you down and can also motivate you to work better to achieve your desired goals.
- Practice Self Care
Developing good and healthy habits such as exercise, meditation or any related hobbies such as playing an instrument can make you feel confident and will help you maintain better mental health.
- Seek help when needed
When you feel anxious or face symptoms of depression, kindly reach out to mental health professionals who can guide and assist you through therapy or counselling sessions that can help you move forward and deal with obstacles.
At North American Behavioral Health Services, we guide you to the best experts and mental health institutes to get you the help needed. Your business deserves your attention, don’t let lack of mental health support stop you.
