Entrepreneurs are resilient – but that doesn’t mean we shouldn’t talk about mental health

By Marc St?ckli, Global Chair, Entrepreneurs' Organization

?

Entrepreneurs are frequently praised for their unwavering stamina to pursue the unimaginable and create the impossible. They are lauded for their risk tolerance, resilience, and can-do attitude.?

Many of these positive traits are a result of how their brains are wired. How our brains are wired. Yet, there is little mention of how entrepreneurs manage their mental health.

This is because the #mentalhealth of business owners is often side-lined in the founder’s story. If even mentioned, it is usually in reference to how they got back to their feet after facing a burn-out or particularly challenging stage of their journey.?(The heroic comeback story!) This sort of filtering often overlooks a deeper problem and fuels the narrative that entrepreneurs can hustle through anything, regardless of impact on their wellbeing.

This is a damaging outlook that highlights the need to speak publicly about how entrepreneurship comes with its own unique pressures.

#WorldMentalHealthDay serves as a reminder that we need to be more explicit and intentional in calling out the strength that is present in vulnerability. There is strength in speaking out.?I learned this lesson at a high cost, which I might have avoided, had we normalised this process of opening up about entrepreneurs’ mental health twenty years ago.

How I got to talking.

In 2006, I left my own software business, which I had co-founded with my partners during the dot.com era. I left on bad terms and we nearly ended up in court – all because I was not open about the reasoning behind my departure.?

What should have been a celebration of years working together, was reduced to a series of estranged back and forth emails, filled with cryptic and carefully phrased legal language.

I don’t regret leaving my business. I have always been sure of this decision. But I wish I had done things differently. Had I opened up earlier to my partners about what I was feeling and considering, and had they known what I was going through, my exit would not have left such a sour taste.?

Back then, I did not realize I could voice my true feelings to anyone. Not to my family. Not even to my co-founders, who would have probably echoed my sentiment.?I was trapped in my own self-inflicted cage – internalizing stresses.

The truth is I felt weighed down, constantly concerned, and overwhelmed – and unsure of what exactly I was struggling with. And unfortunately, more often than not, these are common symptoms amongst entrepreneurs, which puts them at a higher risk of facing burn out and loneliness.

Instead of talking about it, I muted my thoughts, silencing my only way to seek help – out of shame or fear of not looking like I was in control of the situation; fixated on this idea that we, entrepreneurs, need to be the fixers of everything.

But what happens when it feels like we cannot get a grip on our own mental health?

The entrepreneurial journey is lonely.

The reality is the entrepreneurial journey can take a toll on founders' mental wellbeing.

According to research?from psychiatrist and U.C. San Francisco clinical professor, Dr. Michael Freeman, almost half of the 242 entrepreneurs surveyed reported struggling with a mental health condition – with depression ranking as the top condition. (And this was before the additional challenges of a global pandemic, contracting economies and supply chain crises.) To put this into perspective, in the UK?1 in 4 adults struggle with a mental health condition. In the US, just 7 per cent of the population?report?themselves as depressed.?

It seems entrepreneurs are reporting mental health struggles at a vastly inflated rate.

So how can we - as builders, solution makers and innovators - address the inherent risks we face to our own psychological well-being?

We speak about them. And we normalise them. ?

While this is easier said than done, over the years I learned that having a reliable support system is crucial to any entrepreneur, whatever stage of their journey.?

There is much less ‘loneliness at the top’.

There are several organisations available to business founders - including the Entrepreneurs’ Organization (EO) that I currently Chair – which offer a safe space for entrepreneurs and owners to get together, share experiences and learn from each other at more vulnerable levels.?We bring diverse cultural and sectoral perspectives to conversations, but the comfort of being with people who are in similar situations – makes it easier to express any fears or frustrations without fear of judgement.

It was through this process of deeply connecting with peers that I was able to learn from my earlier mistakes and grow personally and professionally. I am more mindful of my thoughts and feelings now because I share them with trusted peers and confidantes.

There are other ways to express our stresses and find relief and support. Whether it is through online forums or local groups for small-to-midsize business owners -- even a friend or a family member – speaking to other people about our internalized worries and wants can offer meaningful relief. This is not a sign of weakness, but a sign of strength.

Let’s get talking.

Speaking about mental health won’t erase the pressures we face. But it will help put things into perspective, while we support the employees and families we serve. Had I known this earlier in my entrepreneurial journey, I would have certainly managed my business exit differently and perhaps ended that chapter on a more positive note. But most importantly, I would have looked after my mind better.

Let's get talking.