The Intersection of Entrepreneurship and Mental Health

Ten years ago, the concept of our first Care+Wear product, the PICC line cover , debuted on the Katie Couric show, before I had even officially started the company. This event shifted me from a stable corporate career into the unpredictable world of startups. Driven by purpose and passion, this change would quickly reveal to me both the thrill of creating something from the ground up and the responsibilities of being a founder.

This past June, during Men’s Mental Health Awareness Month, the Care+Wear marketing team focused on highlighting? the unique challenges faced by men in mental health, particularly those dealing with cancer and chronic illnesses. This discussion made me realize that there are parallel challenges, of course not to the same degree, that all founders face —specifically, the stigma and silence surrounding their mental well-being.

To assess how widespread this issue is and have data to back up my own assumptions, I sent a survey to my Founder’s Only dinner community—a monthly gathering over the past 6 years and counting - where people from all walks of life, ranging from new entrepreneurs to seasoned veterans, come together to share insights and experiences. The survey aimed to gather their insights and advice to support fellow founders, as well as to initiate discussion around this topic.

Let’s dive into what the survey revealed about the mental health landscape among entrepreneurs:

Survey Insights: Voices from Founders

A majority believe their role affects their mental health: More than 80% of respondents acknowledge that entrepreneurship significantly impacts their mental health, with a surprising 30.8% rating this impact as 10 out of 10 in terms of negativity. Yikes!

Main stressors range in topics: Managing teams, financial challenges, and customer acquisition were selected as the top stress points for founders, highlighting the diversity of issues that are top of mind for founders on a daily basis.?

Burnout is prevalent: An overwhelming 92.3% of founders admit to experiencing burnout, with half experiencing it frequently and over 42% occasionally.

Outside outlets are key: When it comes to managing stress, respondents identified exercise as the most effective outlet (now you know why you can find me daily on the west side highway!). Additionally, meditation, therapy, and professional coaching were commonly cited as helpful strategies.

Despite progress, stigma remains:? While there are more discussions around mental health today, they are still not enough. 30.8% of founders still see stigma around mental health as a major barrier, making it difficult to have open conversations and seek support. This is something I hope to incorporate more into my dinners, enabling people to have an open forum to share their stresses and seek support.

High importance placed on community: When asked about additional support or resources, the consensus was clear: founders prioritize peer groups for honest sharing of experiences. They also value supportive communities, communication skills training, and networks that foster genuine conversations rather than emphasizing success alone.

Quotes from Founders

I also asked founders for advice they would give to aspiring entrepreneurs about managing their mental health while building a company. Here are some noteworthy responses:

• "Make sure you know yourself well enough to know your outlets for managing stress.? Never skip or delay leveraging those outlets.”? - Trina Dinner Service
• "Be authentically passionate about your product, supply chain, and target customer."? ? ? ? - Nicolas Caswell-Massey
• "Breathe more, pause more, and think long-term." - Jonathan Snoots
• "Take a break, get a good night's sleep, fill your cup, and make sure the work you are putting in is the best version of work possible. " - Tara YawnWorld
• "Remember, it’s not a race or competition." - Taara Sajnani Brand Management

Personal Insights: What’s Worked for Me

With a decade of experience as a founder, I've had the opportunity to test and learn what works best for me to maintain a sense of calm amongst the chaos of entrepreneurship. Many of the survey findings align with the advice I often give to others.

Having outlets outside of your day-to-day tasks as a founder is definitely high on my list. For me, this ranges from exercising to carving out time to cherish moments with loved ones.

Finally, community is everything to me. Surround yourself with talented and supportive individuals who share your vision. Joining a weekly founders' running club and hosting my monthly #FoundersOnly dinners have been crucial sources of support. These events not only provide a chance to relax (and make numerous bad jokes) but also create opportunities for meaningful connections. Here, people going through similar challenges can openly discuss the ups and downs of entrepreneurship, free from judgment. It’s through such communities that I learned seeking help when needed is a sign of strength, not weakness.

A Balanced Approach

Navigating entrepreneurship while prioritizing mental health requires a balanced approach. Being a founder is not for the faint of heart; there are inevitable lows, and yet the highs and the journey itself can be incredibly rewarding. In my entrepreneurial journey at Care+Wear , I've had the privilege to make a meaningful impact on many lives, aiming to benefit all of those that need healthwear in and out of the hospital — that's what makes it truly worthwhile.

As one survey responder aptly put it, entrepreneurship can offer immense freedom in terms of time, creativity, and financial independence. However, sustaining this passion and creativity amidst challenges requires open dialogue and supportive networks. Let's prioritize mental well-being alongside business growth, reshaping the narrative around mental health in entrepreneurship to foster a more supportive ecosystem.

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