Starter for Ten - Let's talk about mental health
Being an entrepreneur is not easy.?Starting and growing a new business can be an exciting and rewarding experience, but it can also be incredibly stressful and testing. As an entrepreneur, it is important to prioritise your mental health and wellbeing to ensure that you can effectively manage the challenges that come with running a business.
As the country unites to mark Mental Health Awareness Week, this week's newsletter aims to highlight the risks to mental health on an entrepreneurial journey and the strategies to avoid burnout, stress, anxiety and depression.?
Entrepreneurship takes a toll on mental health
Mental health conditions are more common among entrepreneurs and founders than the general population. A study by the National Alliance on Mental Illness (NAMI) found that 44% of entrepreneurs and founders have a mental health condition, compared to 26% of the general population. The most common mental health conditions among entrepreneurs and founders are anxiety and depression. Characterised by excessive worry and fear, sadness, hopelessness, and loss of interest in activities that were once enjoyable.
Many founders say the process of starting company has been detrimental to their well-being, but the problem is particularly prevalent in the current environment.?
Successful entrepreneurs who have faced mental health challenges and how they have overcome them?
Elon Musk - Founder and CEO of Tesla and SpaceX
Elon Musk has openly discussed his struggles with mental health, particularly regarding stress and burnout. He revealed that he had faced immense pressure and long work hours. To address his mental health challenges, Musk adopted several strategies:
Seeking support: Musk acknowledged the importance of having a support network and reaching out to friends, family, and trusted colleagues for guidance and encouragement.
Setting boundaries: He recognised the need to establish boundaries and prioritise self-care, including scheduling breaks, vacations, and downtime to prevent burnout.
Practicing self-reflection: Musk emphasised the value of self-reflection and introspection to identify personal strengths and weaknesses, and to continually work on personal growth.
Arianna Huffington - Cofounder of The Huffington Post
Arianna Huffington experienced a publicised burnout in 2007, which led her to re-evaluate her priorities and well-being. Some of the steps she took to overcome her mental health challenges include:
Redefining success: Huffington emphasised the importance of redefining success beyond financial achievements and incorporating well-being, health, and personal fulfillment into the definition.
Practicing self-care: She actively promoted the significance of self-care practices such as getting enough sleep, disconnecting from technology, and prioritising personal well-being.
Encouraging cultural change: Huffington advocated for a shift in workplace culture, emphasizing the need to create environments that prioritise employee well-being, work-life balance, and mental health support.
Jessica Alba - Cofounder of The Honest Company
Jessica Alba, in addition to her success as an actress and entrepreneur, has been vocal about her experiences with anxiety and impostor syndrome. She has shared some strategies she employed to manage her mental health challenges:
Seeking therapy: Alba sought therapy to address her anxiety and gain coping mechanisms to manage stress and self-doubt.
Building a support system: She surrounded herself with a supportive network of friends, family, and mentors who provided encouragement, advice, and a safe space to share her challenges.
Embracing vulnerability: Alba spoke openly about her experiences, normalising discussions around mental health, and inspiring others to seek help and support.
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Getting help and where to find support for anxiety
Support organiations and resources that provide valuable information and support for anxiety:
These organisations offer valuable resources, helplines, and support services for individuals experiencing anxiety in the UK.
Looking after your mental health with exercise and meditation
Physical activity has a huge potential to enhance our well-being . Even a short burst of 10 minutes of brisk walking increases our mental alertness, energy and positive mood.
Participation in regular physical activity can increase our self-esteem and can reduce?stress ?and?anxiety . Meditation and mindful-based therapy also plays a role in reducing?symptoms of depression ?and anxiety, you can try out tools like?Headspace ?to help with?meditation and mindfulness.?
The Department of Health recommends that adults should aim to be active daily and complete 2.5 hours of moderate intensity activity over a week – the equivalent of 30 minutes five times a week.
Avoiding the hustle culture as a response to stress
Chivon John?is the Global Wellness Lead at Shopify and runs her own business on the side. She bristles at the expression “When you do what you love, you’ll never work a day in your life.”?In her experience, the opposite is often true. “If anything, the more passionate and dedicated you are, the more mindful of?burnout?you have to be because you’re not necessarily going to put up those guardrails,” she says.
There is also a need to avoid the pressure to adopt hustle culture. “Hustle culture can be a response to that stress,” she says, “because if I just hustle, hustle, hustle, I feel like I have power.”?Hustle culture, which has permeated stories from startup leaders, still has a pull on business owners. “There’s this feeling that you can’t pause or take your foot off the gas, essentially. You’re supposed to be constantly in this motion,” says Chivon. “There’s no one telling you to take that break.”
The pressure to keep up has affected some groups more than others. One?study ?found that?the workload among entrepreneurial women amounted to three full-time jobs, while their pay only reflected 50% of one job. Although the balance is steadily improving, the brunt of “informal care”?still falls to women.
Mercia's Mental Health Awareness Week
Coffee, Cake and Chat
Experts say that talking can provide stress relief and can lighten the load of concern someone might be having. We had a coffee, cake and chat morning in Henley-in-Arden to help start the conversation around mental health. Talking about a problem can help to start breaking it into smaller elements, which can stop you from feeling so overwhelmed.??
Wednesday Walk?
Walking is proven to improve your mood and can help your mental health. Walking can help?to reduce anxiety, depression, and a negative mood. It can also?boost self-esteem too, so a group us joined in for a mid-week walk to share the benefits of exercise on mental health.
Meditation
Meditation is proven to help reduce stress and anxiety. Spending even a few minutes in meditation can help restore your calm and inner peace. We joined in with a live meditation with?Headspace ?last Wednesday.?