Ambitious entrepreneurs are the lifeblood of our society. The entrepreneurship statistics of 2020 indicate that around 582 million people are in the race of setting up their own business and the figures shall continue to grow.
When we look at the life of an entrepreneur and hear about his struggles, we understand that he needs to be mentally balanced, stable, strong, and healthy to face vivid types of issues such as socio-economic challenges, ever-growing competition, and proper utilization of the resources.
Entrepreneurs and mental health
One of the recent surveys tells us that:
- 29% of entrepreneurs experienced ADHD
- 27% of entrepreneurs suffer severe Anxiety
- 30% of entrepreneurs are struggling with Clinical Depression
As we all always believed that the life of an entrepreneur is full of unicorns and rainbows, these disturbing figures are an eye-opener to us. If you are an entrepreneur, struggling with mental issues, please give priority to your mental health, as it may be a small thing today, but we all know if you take care of small things, they will take care of bigger things in later stages.
The vulnerability of entrepreneurs for mental health challenges
The above-mentioned statistics explain how vulnerable entrepreneurs are in case of mental health disturbance. Their story of struggles and perseverance should be addressed with great attention so that they could get this narrow escape from the overlaying challenges of mental crisis. The vulnerability of entrepreneurs to encounter the mental blocks become high when there is:
- Lack of self-care to manage the stress
- Tackle the revolving uncertainty with the business
- Unexpected social isolation
- A barrier to seeking professional help
These aforementioned points might resonate with anyone among us. It is necessary to know the essence of good mental health. The looming existential void should be filled at the earliest to avoid any of the unwanted futuristic consequences.
Why is it important to care for your mental well-being?
“ There is no health without mental health”- David Satcher
Mental health is an integral part of your life. It encompasses your physiological as well as psychological well-being. It directly impacts your actions, reactions, and decisions. Here is the list of ways by which mental health helps an entrepreneur to grow and live his dreams.
- Boosts the confidence
Good mental health acts as a catalyst that allows an individual to take bold and confident decisions in life. As an entrepreneur, you might have to take some tough and experimental decisions at any stage of your business. If you are mentally fit, you would be able to see the far results too.
- Enhances productivity
As an entrepreneur, you might need to set a benchmark for others through your performance. You need to always represent a better version of yourself among the others. To accomplish the same, you need to be productive and progressive in your actions. Stable mental health helps an individual to keep his thoughts balanced and actions progressive. This stability contributes to improving the productivity of your performance.
- Supports in coping with adversity
Again, your journey of entrepreneurship has its own ups and downs. You need to be a strong-headed personality who can sail this roller coaster ride with perfection. If you have mental clarity, it would be easier for you to cope with adversity. This is why good mental health should be your priority.
How to deal with coronavirus epidemic threat to your business growth?
Undoubtedly, the Coronavirus outbreak is a tragic human story that has caused significant damage to many of the businesses. We need to act quickly and decisively to shield our businesses from this deadly outrage. In between these events, the triggered variables such as stress, anxiety would amplify.
Are you mentally prepared to embrace the sudden shifts in your revenue and cost? If not, make sure you draft contingency plans in advance to bear the changes. You can combat the current situation by:
- Make a channel shift of your business to digital platforms
- Implement financial stress testing process
- Stay prepared with a contingency plan
- Build up a cross-functional responsive team
- Stay connected with your well-wishers
Ask for help!
The burden of mental disorders continues to grow worldwide. The manifestation to become a perfectionist in the respective field has sometimes let people suffer in terms of anxiety and depression (in later stages).
If you know someone, who is struggling to set up his entrepreneurial journey and this struggle is taking a toll on his mental health, make him connect with us. Or else, you have a story to share about mental health, feel free to share! Always remember, your mental health is non-negotiable.