It’s challenging to run your own business. More than 90% of firms fail, and up to 50% of them do so within the first three years. The statistics demonstrate that failure is more common than success in entrepreneurship, even for founders who eventually find success.
An entrepreneur’s mental health and sense of self-worth may both be negatively impacted by the stress this causes. Now, Entrepreneurs discuss the emotional ups and downs that starting a business can bring. We also hear advice from an entrepreneur coach on how to identify mental health problems and avoid seeking therapy, while LBS alumni experts highlight certain management techniques.
If you are an CEO or businessman, you are aware of the numerous difficulties that come with success. But you might not be aware that these difficulties can harm your emotional well-being. Because of this, entrepreneurship and mental health are closely related. Businessman must understand the symptoms of mental illness and how to get help when they need it.
Entrepreneurs frequently suffer from mental illness. A mental health condition will affect one in four business owners at some point in their lives. The most prevalent mental health conditions among entrepreneurs are anxiety and depression. Many other symptoms of anxiety might appear, such as fear, agitation, and difficulty focusing. Sufferers of depression commonly experience despair, hopelessness, and exhaustion. Physical health issues may also result from it.
Isolation:
Entrepreneurs frequently neglect the importance of having a social life and their mental health. This is a result of the fact that many business owners are so consumed with their work that they lack the time to pay attention to their mental health or significant relationships (in their minds). This may result in mental health issues like loneliness, despair, and anxiety.
Make time for yourself:
We need to spend some time to work, eat, sleep, and do all of our daily tasks. Additionally, we require time to get to know and comprehend our partners, our kids, and our buddies. It is simple to become overwhelmed with work as an entrepreneur and forget about your own needs. But it’s crucial to set aside some time each day for yourself, even if it’s just a few minutes. Spend some time engaging in activities you enjoy outside of work, such as reading, working out, or spending time with loved ones.
Join a group of Social Activities:
Online and offline, there are numerous support groups available for business owners. These groups are a terrific opportunity to meet other business owners who can relate to your particular struggles. Networking opportunities, counsel, and emotional support can all be found in support groups.
