Mental Health issues in startup founders
The startup industry is widely praised and covered by the media, and an overall impression of growth and wealth is presented. Yet behind the scenes, various issues fuel this supposedly joyous domain. It has never been simple to manage the consequence of the need to achieve, the fear of failing, the search for venture capital funding, the resolution of internal conflicts inside the business, and interacting with consumers. When you combine the unusual circumstances of the COVID-19 epidemic with the?economic downturn, the situation is more dangerous for mental health. But there is little acknowledgment of the mental health of startup founders, brilliant businesspeople who take on enormous jobs in the hopes of creating spectacular success tales.
Nowadays, our generation looks up to entrepreneurs like Mark Zuckerberg, Aman Gupta [ Founder of BOAT], and?Piyush Bansal [Founder of Lenskart]?rather than sports and entertainers like Sachin Tendulkar, Kapil Dev, and Michael Jackson, Bollywood actors in older generations.
?This reflects the growing popularity of entrepreneurship in society, as many members of Generation Z (born between 1996 and 2012) and Generation Alpha (born after 2010) aspire to start their own businesses. The shifting attitude about careers is one explanation for this. Starting a business was always thought to be practically impossible, but startup success stories have altered that and the stigma has vanished. Currently, there is a certain amount of appreciation and respect for those who launch their own firm.
Depression:
One of the most common mental diseases is depression, which is defined by unpleasant feelings like melancholy and lack of enjoyment, poor physical health, and diminished cognitive ability. According to the World Health Organization, 350 million people worldwide are in need. It ranks third in terms of the "burden of disease" and is expected to overtake all other causes by 2030.
Although many business owners are capable of making things appear positive from the outside, the weariness and numbness are hidden. Founders may experience physical and emotional exhaustion, which can cause them to doubt their choices, struggle to fall asleep, and feel as though the "spark" or "fire" that drives them is missing. Their everyday performance may be affected by this fading of interest and disinterest.
Stigma:
It has been clear over the past several decades that many people who suffer from depression don't acknowledge their condition and don't seek professional assistance either. Stigma, which is described as a "mark of shame, disgrace, or disapproval that results in an individual being rejected, discriminated against, or barred from participating in a number of different aspects of society," is one of the causes of this. The stigma around mental health has hindered many people from speaking about their issues in a career like a business where it is assumed that people will "have it together." Many people refrain from seeking treatment for depression out of concern that doing so would result in "bad performance attributions" and "inability to secure acceptable employment accommodations that may support recovery."
?
Anxiety:
Anxiety may cause overwhelming dread and ongoing stress, making it challenging for startup founders?to efficiently manage their operations on a daily basis. It may manifest as being easily irritated, unsure of one's options, melancholy, sluggish, and prone to panic attacks. In terms of the body, it can also cause breathlessness, heartburn, ulcers, alcoholism, sleeplessness, decreased libido, and stress in the body. Persistent and severe anxiety can lead to poor decision-making, confidence decline, social isolation, and poorer physical health as a result of poor sleep habits and lifestyle selections.
Start-up founders and their Mental Health:
Being a?start-up founder?or entrepreneur?is described as an?"individual's?vocational?choice to work for themselves on their own account and risk," and it is significant to the economy because it fosters innovation and employment creation. Nonetheless, one of the most demanding jobs is becoming a founder or?entrepreneur.
The failure rate is one explanation for this. Apparently, nine out of ten startups fail, and three out of four venture-backed firms fail (Bruder, 2013). However, more than 95% of businesses fail to meet their early expectations. For many start-up founders, their happiness and mental health are significantly impacted by the success—or assumed success—of their organization. Several elements affect an entrepreneur's mental health and the success — or lack thereof — of their start-up company.
Second, compared to salaried workers, entrepreneurs frequently operate under more demanding circumstances, with more amounts of uncertainty, responsibility, and complexity, as well as under more acute time constraints. They also operate in extremely unpredictable circumstances and do a variety of jobs for which they are not always well-equipped. In order to successfully manage these difficulties, pressures, and stresses and achieve their aim of operating a successful business, excellent mental health is crucial.
Compared to workers, the?founder's?job happiness is more strongly correlated with their contentment with life, their families, and themselves, reflecting the importance of work in their lives (Stephen, 2018).
领英推荐
The motivation behind why an entrepreneur founded the business is another element that affects their mental health. Two different sorts of enthusiasm are present.??First of all, If?a person is motivated by a passion that is harmonious because it makes them feel good and contributes significantly to who they are.?Obsessive passion, on the other hand, is driven by prestige, money, or other (material) benefits. Businesses with a unified passion are more likely to prosper.
Also, entrepreneurs who are motivated by internal considerations, such as personal fulfillment, have higher Mental health well-being?than those who are motivated by external causes. As a result, starting a business out of a real passion for what they do is one approach for entrepreneurs to avoid or decrease mental health issues. If we enjoy what we do, we are more inclined to stick with it during difficult times.
?
Probable Solutions
Conclusion:
For a multitude of factors, including the failure rate, pressure to perform, and loneliness, start-up founders or?entrepreneurs are more prone than "normal workers" to have mental health issues. Likewise, the motivation behind a founder's?decision to launch their business may affect their capacity to both launch a successful business and manage any subsequent mental health concerns. Those who are motivated by extrinsic variables, such as money or prestige, are, for instance, more likely to leave their firm than persons who are motivated by intrinsic causes. It is crucial to talk about these topics and the difficulties that might arise while beginning a firm because entrepreneurship is becoming more and more prominent in culture.
book your counseling session at hugg.co.in if you face any mental health turbulence.
?
?
?
References:
Bregman, M. (n.d.). The Relationship Between Entrepreneurship, Business and Mental Health.
Verma, V. (2022, July 2). Mental health issues of startup founders need immediate attention. https://www.thehansindia.com/business/mental-health-issues-of-startup-founders-need-immediate-attention-751575