Business Leader Cory Williams on Why Good Mental Health Matters in Entrepreneurship

Some people are satisfied to work for someone else’s company as an employee, with the comforts and benefits their chosen career gives them. There’s certainly nothing wrong with that! But for the folks interested in entering the world of entrepreneurship…get ready for a wild ride. 

The path toward entrepreneurship is a wild one. The passion for the business we’re building lives and breathes through those of us who think outside of the box, who see something and say, “I can do this better.” For us, there is no other world we’d rather be in. Being an entrepreneur is thrilling and requires passion. It’s a world of risks and rewards. But that world comes with a price we don’t talk about enough: our mental health.

Mental Health in Business

If you talk to just about any entrepreneur or founder, they will tell you that they wouldn’t change their lives for the world. But what they’re likely not telling you is how much stress starting a business causes, or how easy it is to let your passion turn into an obsession.

It’s only in the last few years that business owners, entrepreneurs, and company founders have started the conversation about mental health while building a business. There’s a fear around mental health that makes people uncomfortable.

Openly talking about mental health is like dragging the monster from under the bed and parading it around for everyone to see. When you’re an entrepreneur, others look to you for the answers and it may feel like all eyes are watching, waiting, for you to fail. There’s an unspoken pressure to succeed and it is stressful. If left unchecked, that stress can wreak havoc on your mental health which can lead to larger problems. So instead of bringing the monster out in the open, we allow it to hide under the bed, free to scare and make you feel alone.

Become Aware of Chronic Stress

Chronic stress happens when your passion for your business turns into an obsession. It can cause drastic problems for both your physical and mental health. Some of the warning signs include:

• Putting off sleep
• Not getting enough exercise
• Poor eating or not receiving proper nutrition
• Neglecting personal relationships: family and friends.

Overlooking personal relationships alone can trigger mood vulnerability, which puts mental health at an even greater risk for anxiety and depression. A 2015 study by Michael Freeman shows that 72 percent of entrepreneurs reported mental health concerns and nearly 50 percent had one or more lifetime mental health conditions.

 

Do these findings mean you shouldn’t be an entrepreneur? Absolutely not. Instead, it’s important to recognize the concerns and become proactive with your mental health.

Actionable Steps to Better Mental Health

A large part of good mental health is recognizing where your vulnerabilities are. As an entrepreneur, you’re starting out as a company of one: lining up financial backing, building the team, hiring the right people for the jobs you create, balancing the books. You have literally become a one-person band, trying to play all the instruments at once. Unfortunately, that’s short-term solution for a long-term problem.

You’ve come up with an epic idea, you have a solid business plan and a solid financial plan, so now it’s time to let your genius shine. Where is your strength? Take the one-person band for example; are you a better drummer or trumpet player. Is the harmonica your jam? Apply this to networking, marketing, finance, or operations and discover where you’re most productive.

Along those lines, it’s important that you focus on what you can control. Trying to take the reins in every aspect of the business isn’t going to bring much success. While you may try to control every aspect of launching the business, it’s not sustainable. You are likely to be successful at controlling everything as you would be controlling the weather.

Instead, delegate. There are many tasks that can be outsourced to freelancers or other boutique businesses specializing in what your business needs. Outsource to a virtual assistant to handle emails and set appointments. Hire a videographer for webinars or video series’ you want to host. Let a bookkeeper balance the books while an accountant helps you stick to your financial plan. There’s no shame in accessing help when you need it – in fact, you’re putting your business at risk if you don’t.

And finally, it should go without saying that you shouldn’t become your work. Creating space for downtime is likely the most important thing you can do for your mental health. But you must commit to it. This means, unplug, give everyone the weekend off, go on a staycation with family, or invite over some friends that you keep promising to get together with “soon.” Making space to unwind may be the key to better productivity when you need it. 

Your success doesn’t have to have to come at the cost of your mental health. Create a plan for yourself and find a trusted friend or spouse to hold you accountable and help you keep your mental health from being a barrier to success.

About Cory Williams

Cory Williams is a serial entrepreneur, CEO, founder and chairman of the Board of Epic Health Partners, and a board member of the Raleigh, NC based Tammy Lynn Center. Cory is a passionate advocate for mental health and wants to eliminate the stigma around mental health illness, particularly amongst men. He offers a free monthly town hall for aspiring entrepreneurs who also want to become “The Epic Entrepreneur.’ Click here to learn more: https://www.corywilliams.org/