In the bustling world of entrepreneurship, where dreams are chased and risks are taken, there lies a hidden truth that often goes unnoticed. Behind the glitz and glamour, the unicorns and the socially conscious businesses, the success stories and the headlines, lies a deep and profound struggle that many entrepreneurs face: their mental health. It’s a topic that is seldom discussed, but its impact is felt by countless individuals who embark on the arduous journey of starting and running their own businesses.
Last week, I stumbled upon a post on LinkedIn from a highly accomplished Australian entrepreneur. For over two decades, he had been a shining star in his country’s business landscape, a true icon of success. Everytime he posted on LinkedIn over the past few decades, I remember thinking of how awesome he was to be growing multiple businesses flawlessly. However, in this particular post, he bravely revealed something different. He had reached a breaking point. The weight of his responsibilities had taken its toll, and he had come to the realization that he needed to step back from the very company he had poured his heart and soul into. That’s a big decision and one that I can imagine wasn’t taken lightly.
As I read his words, it struck a chord deep within me. For the past 25 years, I have been in business myself, navigating the ever-changing tides of the economy, the demands of clients, and the challenges that come with leading a team. I’ve experienced firsthand how the relentless pressure can seep into every aspect of our lives, affecting our mental well-being in profound ways.
From sleepless nights, to bursting out crying in the most inconvenient places – I’ve been challenged to a degree that even I am surprised that I am still here, fighting the big fight.
And I am not alone. The truth is, many entrepreneurs find themselves in a similar predicament and like anything in life, it’s just a cycle. There will be good times and there will be bad times. The constant drive to succeed, coupled with the fear of failure, can create an overwhelming sense of loneliness particularly if you do not have a business partner or a supportive someone else at home. As we pour our energy into our businesses, we often neglect our own emotional needs, placing the success of our ventures above our own mental health or just keeping the business afloat above any type of healthy life. We become isolated, trapped within the confines of business and without the safety rope within reach.
Statistics paint a sobering picture of the mental health challenges faced by entrepreneurs. According to a study conducted by the National Institute for Occupational Safety and Health, entrepreneurs are 50% more likely to experience mental health conditions compared to the general population. The pressure to perform, coupled with the uncertainty that comes with starting and running a business, can lead to increased stress, anxiety and even depression.
High-profile entrepreneurs, revered for their success, are not immune to the toll that entrepreneurship takes on their mental well-being. They too face their own battles behind closed doors. Take, for example, Elon Musk, the visionary CEO of Tesla and SpaceX. Despite his remarkable achievements, he has openly shared his struggles with mental health, revealing moments of profound stress and exhaustion.
Another notable example is Arianna Huffington, the co-founder of The Huffington Post. Despite her position as a leading figure in the media industry, she experienced a personal wake-up call when exhaustion and burnout led her to collapse from sheer exhaustion. It was a pivotal moment that made her realize the importance of prioritizing well-being over ceaseless work.
These high-profile examples serve as a reminder that entrepreneurship, despite its allure, can exact a heavy toll on one’s mental health. The pressure to succeed, the constant demands, and the weight of responsibility can slowly erode our well-being if we do not prioritize self-care and seek support when needed. But it is much more than prioritizing – it’s finding ways to cope and deal with the effects of stress and pressure that is bound to come your way at some point in time.
Many entrepreneurs engage in coaches or psychologists who help them deal with the emotional fallout of running businesses. Sleep is definitely a big indicator that something is wrong and the pure rush that cripples’ entrepreneurs ability to make decisions caused by catastrophic anxiety.
It’s time that more people speak up and break the silence surrounding mental health in entrepreneurship. The need to recognize that well-being is not a luxury but a necessity, and that people are human and not everyone was created equal when it comes to coping mechanisms. By acknowledging our vulnerabilities and seeking help when needed, we can build stronger, more resilient businesses. It’s crucial to have a supportive network of mentors, friends, and fellow entrepreneurs who understand the unique challenges we face. I’ve always had mentors that I have been open and transparent with, where some days I just say “Everything is on my shoulders, it’s too much!”
While many organizations have been set up for employees to be supported for their mental health challenges, it’s the entrepreneurs that also need this foundation to be prioritized.
