May is Mental Health Awareness Month, and it’s a great time to shed some light on a topic that has historically been stigmatized. Maintaining your mental well-being is fundamental for a successful career, the same way maintaining your physical health may be. Poor mental health can seriously hinder your work and your ability to function in the workplace.
Entrepreneurs are disproportionately affected by stressors that may contribute to common mental health problems such as anxiety and depression. The pressure to overwork themselves to support their business without the resources of a larger company can leave many entrepreneurs feeling isolated and anxious.
Pursuing your passion should not be something that negatively impacts your mental health. By spreading more awareness of the issue as well as sharing some ways to improve your own mental health, we can hopefully begin to start fixing this issue at the source.
5 Shocking Statistics About Mental Health for Business Owners
#1: Entrepreneurs Are More Likely to Struggle With Mental Health
As many as 72% of entrepreneurs are directly or indirectly affected by mental health issues. This is a much larger percentage compared with only 48% of non-entrepreneurs who struggle with mental health concerns.
Many entrepreneurs attribute this statistic to how overwhelming it can be to create a business from the ground up. While building your own business can be incredibly rewarding, entrepreneurs must acknowledge the strain that position may put them under and consider ways to alleviate that. Outsourcing certain tasks can be an easy solution to this problem.
#2: Entrepreneurs Are Affected by Mental Health Issues Every Day
In the U.S., 30% of entrepreneurs experience anxiety or depression every single day. The pressure to constantly push past personal issues in pursuit of larger goals causes these mental health challenges to fester, resulting in more severe and chronic problems. It is critical that those struggling with their mental health seek help immediately rather than letting their problems worsen to the point of constant discomfort.
#3: Entrepreneurs Are Twice as Likely to Suffer From Depression
Beginning a start-up as a solo entrepreneur requires a lot of self-reliance. Entrepreneurs are expected to assume every task in their company, from overseeing production and talent to running social media pages.
This forced independence can leave many feeling isolated, especially in the age of remote work. Self-isolation is commonly associated with depression, contributing to the extremely high proportion of entrepreneurs who suffer from this illness.
#4: Entrepreneurs Are More Likely to Have ADHD
While ADHD, or Attention Deficit Hyperactivity Disorder, is not classified as a mental illness – but it can contribute to certain mental health issues. People with ADHD are often wired to be more prone to either anxiety or depression.
As much as 29% of entrepreneurs have ADHD, compared with only 5% of the sample population. ADHD has the effect of compelling individuals to focus entirely on tasks they’re passionate about, and those who have ADHD are much more likely to take risks. While people with ADHD may be more inclined to pursue entrepreneurship, it is critical they take into account the effect that it may have on their mental health.
#5: There Is Still Stigma About Mental Health in the Business Community
In a recent study, 81% of entrepreneurs agreed that there is still a stigma surrounding mental health in business. While 51% of that number agreed that is it getting better, many entrepreneurs are still negatively affected by the presence of this stigma, hiding their issues rather than seeking help.
5 Practices to Improve Your Mental Health
So what can you do about it? Here are a few practices that can help you maintain your mental and emotional well-being even as you’re embarking on your entrepreneurship journey.
#1: Maintain Your Physical Health
Getting regular exercise, eating healthy meals, and staying hydrated are fundamental to nourishing a healthy mind.
#2: Make Time for Yourself
As an entrepreneur, your workday is likely very busy. Make some time for yourself to keep your head in the right place. You might consider setting aside 30 minutes per day for doing an activity that you enjoy.
#3: Take Breaks
It is easy to become overwhelmed with all the responsibilities that come with being an entrepreneur. Taking a step back from work, even if it’s just a few vacation days, can allow your mind to rest and rejuvenate.
#4: Reach Out
Remember that you are not isolated – reach out to family and friends to create a network of support.
#5: Seek Professional Help
There is no shame in seeking out someone with knowledge and experience in the problems you are experiencing. A therapist may the best person to identify the source of your mental health challenges and help you overcome them.
Take Some Stress Off Your Plate
The stressors associated with entrepreneurship contribute to the extremely high rates of anxiety and depression among those trying to grow their business. A great way to relieve some of this pressure is to outsource tasks, such as blogging and social media management, to specialized professionals.
Not only is this option the best for stress management, but it is also the most economical option. As anyone building a business from scratch knows; time is money. Outsourcing frees up valuable time best spent elsewhere.
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