{"id":1512,"date":"2023-05-01T11:36:44","date_gmt":"2023-05-01T11:36:44","guid":{"rendered":"https:\/\/ecinnovates.com\/?p=1512"},"modified":"2024-04-29T15:56:34","modified_gmt":"2024-04-29T19:56:34","slug":"the-mental-health-crisis-in-entrepreneurship","status":"publish","type":"post","link":"https:\/\/ecinnovates.com\/the-mental-health-crisis-in-entrepreneurship\/","title":{"rendered":"The Mental Health Crisis in Entrepreneurship"},"content":{"rendered":"

The Mental Health Crisis in Entrepreneurship<\/b><\/p>\n

\u201cI\u2019m a failure.\u201d<\/span><\/p>\n

How many times have I heard a founder express this sentiment as their startup begins to crumble or fail?<\/span><\/p>\n

Too many times.\u00a0<\/span><\/p>\n

See, too often, founders associate their identity with the success of their business. And its easy to see why! A startup requires a founder to put their full heart into their efforts. They give it their all. In fact, if they don\u2019t, people like me, or investors, potential partners and customers start to doubt if they should support the business. That doesn\u2019t set up the founders for emotional and mental success within such a volatile space like entrepreneurship where failure is often expected.\u00a0<\/span><\/p>\n

According to recent reports led by Intel, <\/span>72% of founders suffer from mental health issues<\/b> and more than a third of those founders also suffer from anxiety.\u00a0<\/span><\/p>\n

Let those numbers sink in. This isn\u2019t just a few folks struggling. This is a systemic crisis.\u00a0<\/span><\/p>\n

Founders are fighting to gain each business milestone, to feed their families, pay their employees who also have families, navigate market entry, work with and acquire customers, figure out taxes, put out fires daily, and \u2026 right\u2026 the other stuff: exercise, eat healthy, shower, sleep, maintain friendships, spend time with their loved ones, and all the other necessary tasks we must do to meet our human needs.\u00a0<\/span><\/p>\n

And if the founder is a parent who happens to carry the \u201cmental load\u201d for their family? I can\u2019t even begin to write out all the other tasks and stresses on their shoulders.\u00a0<\/span><\/p>\n

But to be clear: the human being who stepped out in bravery to create something new and novel, while putting their heart behind it, is incredibly strong, passionate, and persistent. They are not failures. Ever. Regardless if their endeavor succeeds or fails.\u00a0<\/span><\/p>\n

I personally believe a founder is more likely to face these intrusive thoughts of being a \u201cfailure\u201d if they are tying their worth and value (their core identity) to their business. If someone\u2019s worth and value is being informed only by their role as a founder or influenced only by their business\u2019 traction, then they are likely to experience volatility emotionally.\u00a0<\/span><\/p>\n

When I meet and work with entrepreneurs, especially those I have been able to get to know on a personal level, I always encourage them to anchor themselves\u2014their value, worth, and identity\u2014in something bigger than themselves or their business. Whatever source that may be for them: a faith, family, or a belief system.\u00a0<\/span><\/p>\n

When we have our worth anchored in something steady and trusted, it doesn\u2019t matter if our company fails. It doesn\u2019t matter if we have a bad day. We know who we are. We know our worth is secure. And we know that we matter. That makes a business\u2019 failure easier to take in stride. That makes an investor\u2019s rejection feel less personal. That makes petty comments or unnecessarily critical feedback less dangerous to our mental health.\u00a0<\/span><\/p>\n

So if you\u2019re a founder, consider where your identity lies. Take some precious and coveted time away from your tasks to look inside and decide what is informing your identity.\u00a0<\/span><\/p>\n

If you know a founder, below are some ways you may be able to support them:<\/span><\/p>\n

How can I support Entrepreneurs?\u00a0<\/strong><\/p>\n