Entrepreneurship is hard. You have to be creative, driven, and always on the go. You’re constantly hustling, grinding, and working around the clock to make your business a success. Entrepreneur counseling can help.
It’s no wonder why so many entrepreneurs struggle with their mental health. In fact, according to a recent study, 72% of entrepreneurs suffer from depression, anxiety, or another form of mental health condition.
While society has made great strides, mental health is often seen as taboo. However, it’s incredibly important to talk about for entrepreneurs.
Why? Because mental health issues can impact every aspect of your life, from your personal relationships to your work performance. If you’re struggling with your mental health, it’s important to seek help. Therapy for entrepreneurs can address specific issues and topics that come up with being an entrepreneur.
Let’s explore this topic a little deeper so you can live your life as an entrepreneur to the fullest.
Looking for a therapist near me and live in Seattle, Bellevue or anywhere in Washington State? We’ve got you covered!
The Mental Health Challenges of Being an Entrepreneur:
As a striving businessperson you wear many hats. This is simply the characteristic of an entrepreneur.
You’re the CEO, the CFO, the marketing director, and the janitor all rolled into one. It’s a lot of responsibility and can be mentally and emotionally draining. Add in the pressure to constantly innovate and generate new ideas (especially if you’re a serial entrepreneur). The high rates of mental health problems among entrepreneurs make a lot more sense.
While entrepreneurship is talked about with words such as “freedom” and “autonomy,” the toll it can take on an individual’s mental health is often left out of the discussion.
Entrepreneurs are at a higher risk of developing mental health issues like anxiety and depression.
Let’s take a look at a few of the most common reasons:
Financial Troubles:
We all know what it feels like to stress over money and the weight it can bear on our shoulders. Imagine if your entire livelihood and future depended on how well your business was doing daily – this is the reality for entrepreneurs.
Financial problems are the leading cause of depression and anxiety in the United States, while 16% of suicides were related to money troubles.
While there are many positives to leading a life of entrepreneurship, being free from financial troubles is often not a luxury (at least at first). Financial hardships can quickly erode nearly every facet of an entrepreneur’s life.
Entrepreneurs & Relationship Problems:
Since entrepreneurs have such extreme rates of anxiety, it’s not unlikely to see many marriages and relationships struggle due to the stress that follows starting and running a business.
Financial troubles that impact your relationships are among the leading causes of divorce in many countries around the globe. With financial troubles come mental health problems. With mental health problems come strained personal lives. It’s an unfortunate domino effect as an entrepreneur.
Being an entrepreneur can create problems of work-life balance and struggles to meet the needs of your family and partner. The constant rescheduling or canceling of personal events can often lead to your personal relationships strife with conflict and feeling like you are in between balancing the needs of your business and your relationships.
Entrepreneurs that struggle with their mental health have reported higher rates of feeling lonely in their issues. They may be too ashamed or embarrassed to confide in their partner or assume nobody truly understands what they’re going through. This is why seeking help from a trusted, professional, trained therapist for entrepreneurs is critical.
How To Recognize the Signs of Mental Health Challenges As An Entrepreneur:
The first step in taking care of your mental health is recognizing the signs of mental health problems. Just because you’re struggling doesn’t mean that you have a mental illness, but it’s important to be aware of the signs so that you can seek help if needed. Some signs that indicate your entrepreneurial endeavors are impacting your mental health are:
- Feeling hopeless or helpless.
- Feeling excessively anxious or stressed.
- Having difficulty concentrating or making decisions
- Experiencing changes in sleep or eating patterns
- Withdrawing from friends and activities
- Experiencing sudden mood swings
- Chronic stress around finances, business problems and worries that impact your time “off” work
If you’re experiencing any of these symptoms, it’s important to reach out for help. Don’t try to tough it out on your own. Many resources are available to help you get through this tough time. Finding an entrepreneur therapist that understands the impact of being your own boss is one resource that can help.
How Entrepreneur Counseling Can Help Your Mental Health
If you’re struggling with your mental health as an entrepreneur, it’s encouraged to seek help. One way to do that is by working with a therapist for entrepreneurs. Let’s explore a few ways therapy can help entrepreneurs with their mental health:
- Therapy can help you manage stress: As an entrepreneur, you are likely to experience a lot of stress. You might be worried about meeting deadlines, securing funding, or making payroll. You might also be dealing with personal stressors like family conflict or relationship problems. A therapist can help you learn healthy coping mechanisms for managing stress so that it doesn’t take over your life (and your business).
- Therapy can help you make better decisions: Entrepreneurs need to be able to make quick, confident decisions in order to succeed. But sometimes, anxiety or depression can make decision-making difficult. An entrepreneur therapist can help you learn how to quiet the negative voices in your head and make decisions based on what is best for your business.
- Therapy can help you find balance: It’s important to remember that your business is not your entire life. As an entrepreneur, it’s easy to get so wrapped up in work that you neglect your own well-being. A therapist can help you find a healthy balance between work and the rest of your life so that you don’t burn out.
A Quick Recap:
If you are an entrepreneur struggling with your mental health, know that you are not alone and there is help available. Entrepreneurs are twice as likely to develop depression, 6 times more likely to be diagnosed with ADHD, 3 times more likely to develop a substance abuse problem, and 11 times more likely to suffer from bipolar episodes.
Therapy for entrepreneurs can be an extremely effective way to manage the unique stresses of entrepreneurship and protect your mental health. So don’t hesitate to reach out for help if you need it—your business will thank you for it in the long run.
Further Reading
- 72% of Entrepreneurs Suffer From Mental Health Issues Here’s Why And What To Do About It
- What is a Serial Entrepreneur
- Entrepreneurs Are At Greater Risk Of Mental Health Disorders; Science Confirms It
Lindsey Ferris, MS, LMFTA, Washington State
Talk. Heal. Thrive. therapist Lindsey Ferris is based out of Seattle, Washington working with clients via online therapy for entrepreneurs.