6 Reasons Entrepreneurs are Vulnerable to Mental Health Issues
Entrepreneurs are known to possess specific skills that fuel their desires to start, manage, and succeed in a business venture. These traits, however, are also being seen as contributing negatively to their mental health at a given time in their lifetime. Recent investigations indicate that entrepreneurs are more likely to suffer mental illness. According to Michael Freeman, a psychiatrist, psychologist, and former CEO, entrepreneurs are 50 percent more probable to report having a mental health breakdown, with some particular conditions being more prevalent among founders. In a recent study, Dr. Freeman observed that up to 72 percent of entrepreneurs surveyed self-reported mental health issues. The findings from the research indicate that entrepreneurs are: Twice as likely to suffer from depression Six times more likely to suffer from Attention Deficit Hyperactivity Disorder (ADHD) Three times more likely to suffer from substance abuse 10 times more likely to suffer from bipolar disorder Twice as likely to have a psychiatric hospitalization Twice as likely to have suicidal thoughts Let’s talk about Mental Health According to the World Health Organization (WHO), mental health is not merely the absence of mental health challenges. It is the “state of well-being in which every individual realizes his or her own potential, can cope with the normal stresses of life, can work productively and fruitfully, and is able to make a contribution to her or his community”. Also known as mental well-being (MWB), mental health, which is traditionally studied in medicine, psychology, and public health, is increasingly gaining attention in other disciplines as well. Scientists, psychologists, economists, management experts among many other experts are taking an interest in the mental health issues of entrepreneurs. The experts have concluded that mental disorders are not only common but may, in fact, fuel the entrepreneurial spirit. According to Michael Freeman – executive coach to entrepreneurs and clinical professor of psychiatry at the University of California-San Francisco School of Medicine… “Mental health conditions are accompanied by positive traits that enable entrepreneurs to excel.” Take ADHD, a condition that research suggests is more prominent among entrepreneurial types. “If you have ADHD, two of the positive traits are a need for speed and an interest in exploration and recognizing opportunities,” he says. “[you have] an ability to act without getting stuck with analysis paralysis.” Entrepreneurs are recognized as contributing to economic growth, innovation, and job creation across the world. They do so by identifying and addressing the needs in a particular market. The late Steve Jobs referring to entrepreneurs said, “People who are crazy enough to think they can change the world are the ones who do.” In the midst of stiff competition and many challenges, entrepreneurs have to employ strict and strategic measures to remain in business. By so doing, these business-oriented individuals often neglect their wellbeing in a bid to grow their ventures. Although in the past, entrepreneurs’ mental health has not received much attention, recently, leaders across the world have begun discussing mental health issues to create awareness on the matter. Earlier this year at the World Economic Forum meeting in Davos. World leaders including the UK’s Prince William, CEO of HSBC, among others, shed light on mental health problems in a therapeutic and non-stigmatic way. The mental health crisis in start-ups With such alarming and scary statistics, the question is: why are entrepreneurs more likely to experience mental health issues? Speaking from his Nairobi office, director of Consulting and Training at People Centric Management Company, Ken Munyua shared with us insights on the following seven areas that make entrepreneurs more susceptible to mental problems. 1. Fear of failure/uncertainty “Fear of failure has crippled many people even before trying,” observes Munyua. Uncertainty and anxiety contribute negatively to our mental well-being. With so much competition, uncertainty is ever a looming phenomenon among entrepreneurs. Remaining positive and pressing on in the time of our powerlessness should be the ultimate goal for any businessman/woman. “Get out there and try; if it does not work, use the experience to improve on your next venture, Munyua advises.” 2. Social isolation Incognizant of how they contribute to mental problems, those close to the entrepreneurs can create a social gap through alienation. While entrepreneurs are excited about the new venture, often, the society including friends and family fail to offer the needed support. Choosing to the non-traditional path can bring about social isolation as one focuses all energy and time into succeeding in the business. 3. Stress Munyua notes that in the formative stage, in particular, entrepreneurs require more time to start and ensure the business survives. During this time, many people in business are pressed hard in managing both business and social life. Over time, the stress leads to sleepless nights, overworking, and lack of appetite or skipping meals due to work and the problems keep spilling over, which can lead to depression if the stress is not addressed well on time. 4. Impression management One thing that entrepreneurs do well is acting like everything is working even at the edge of failure. By creating this facade, entrepreneurs do not seek help even when they need it as they do not want to appear weak. This disconnect between personal experiences, and what they share with the public creates insecurity, and a sense of confusion, further leading to stress, and consequently depression. 5. Inadequate resources to address mental health Mental health resources in entrepreneurship, as is the case in other fields, receive little or no support. As organizations and firms come together to fund and support budding as well as existing entrepreneurs, factors such as mental wellbeing of the businessmen and women should be factored into the budget. 6. Too many expectations Munyua observes that Carl Rodgers, a renowned psychologist, warns that human beings are disturbed when expectations are not met. “Always hope for the best but prepare for the worst,” Munyua adds. Our mantra should be “expect nothing, and be prepared for anything,” as the saying by the Samurai of ancient Japan goes. We should
How to rise above disappointments like a boss
There is this weakness that comes with disappointments or failure. One cannot really tell if it’s that kind of ‘general body weakness’ or something that goes beyond that. Something inexplicable. That kind of feeling that makes one feel static, with little or no zeal to move forward. No doubt failure is often accompanied by disappointments and a lot of pain, which leads to unfulfillment or even depression. Here are some ways to deal with and rise above these situations… Never Give Failure Power Over You! It’s important for us to note that failure only has as much power as we give it. No! This is not saying you should immediately be filled with joy, slot in your best song and start dancing like nothing happened. (Well, you can do this if it works for you) However, the point here is, the day we determine to deal with those failures and move on, is the day we actually move on. Dealing with failure entails dealing with the dark clouds of disappointments, and the pain that comes with it. Until this is done, every other thing will seem stagnant, as one may not have the drive to move on to the next phase of life. Life is a Teacher! Take Notes We see books on ‘Secrets To Success’ here and there, but I think there should also be books on ‘Secrets To Failure’. This is not to guide one ‘into failure’ but ‘across it’. Knowing the bumps, as well as dos and donts of getting across where true success lies. When we know the secret to failure in a particular field, it will be easier to either avoid or overcome it. For now, life remains the one school that teaches all, with no exception to failure. This is the reason, moving on doesn’t just require leaving a particularly rough phase without taking anything along. Most failures leave us with nothing but lessons. Whether these lessons are positive or negative doesn’t matter. What matters is for one to take note of these pitfalls, in preparation for the next phase of life. Learn To Move On! There is never a time life would take a pause because of one’s disappointments. So, the greatest evil we can do to ourselves after experiencing failure is to hold on too tight to it, that life leaves us behind. Yes, bring it out! Pour out the emotions even if it means letting the tears escape your eyes, but after all these, move on! Even if you have to start inch by inch. Change Your Narrative Now Life happens, but how often do we happen too, after a particular setback in our relationships, businesses, careers or just our overall private life. Often times what we do when life happens negatively is sit in the pain, perhaps in the midst of sympathizers and wait for things to keep happening to us, as it pleases. The table can be turned around when you join the league of people who change their narratives. They may fall at some point, but they choose the better option of rising again. They take their lives in their own hand with a sense of purpose.They do not remain ‘nouns’ in a world that is a ‘verb’ itself. They move! Success has no tribe, race or gender. Ironically, failure is even one of the major factor binding the history of most winners all over the world today. When you fall, there are two choices- either you sit on the ground (till a good Samaritan come to pick you up) or rise and move on. Moving on doesn’t mean one won’t feel the pain or shame of falling. Moving on only indicates you’re in control of life, rather than life being in control of you, and this will definitely facilitate reaching your intended desired result. Start happening! Stop waiting for things to happen. Change your narrative and live again! This month of October, our theme is Girl Talk. We’re touching all topics relating to your personal life, mental health and so much more. Got something to discuss with us? Send us a DM to ASK SLA here.