Prioritizing Mental Health as an Entrepreneur

As entrepreneurs, we tend to be so company-focused that we don’t talk about the physical and mental rigors we encounter in building and scaling our businesses. We easily downplay the toll the entrepreneurial life takes on us as individuals, including the impact on our relationships.

In the book Start. Scale. Exit. Repeat., I quote Michael A. Freeman, M.D., a psychiatrist and executive coach who founded Econa around the need for entrepreneurial mental health. In one of his studies, he found:

• 49% reported one or more lifetime mental health conditions.
• 30% were significantly more likely to report depression.
• 29% were ADHD
• 12% had substance use conditions
• 11% were bipolar.

I know firsthand how easy it is to tie your identity to the fate of the company you’re building—to find your sense of self-worth in the P&L statements and valuations.

Entrepreneurs live on the edge. We have extreme personalities and constantly need to get the next “fix.” Over the years, I have collected well over 1,000 domain names. Each time I think of an idea, I register one and feel a sense of excitement. It’s akin to a Blackjack player at the table when they hit a winning hand.

But the good news is this: You’re not alone. Other entrepreneurs face the same struggles, and we can help each other. Which is why the first way you can manage your mental health is to—

Find a Support Community

Your friends or family may not understand what you’re going through, so you should reach out to find other entrepreneurs in your community to help you cope with the entrepreneurship roller coaster.

One such community is EO, founded in 1987 by Verne Harnish and twenty-two other entrepreneurs. Today, the organization has over 17,000 members worldwide, and it even has an accelerator program. As a member myself, my EO group has seen and helped me every step of the way throughout all of my startups since I joined in 1996—but more importantly, they’ve also supported me as a human being.

Even if you are in startup mode, it is worthwhile connecting yourself to some type of local community. If you can’t find one locally, we run a weekly show on Startup Club via Clubhouse called “The Complete Entrepreneur,” hosted by Michael Gilmour.

You can listen to it on Startup.club—or even join us live and participate in the session. It’s a great place to vent, receive encouragement, and learn from others facing similar challenges.

Find Routines That Help You Shift Out of “Work” Mode

Remember, you don’t always need to be in “work” mode. I know that’s easier said than done. On several occasions, I have been told by my family that I’m speaking to them like employees, issuing orders in a staccato fashion—a clear signal I didn’t turn off “work” mode.

If that’s your struggle, find a routine that gives you the space to switch from work to home mode. This can be a particular challenge for those of you who already work from home, so going on a drive or walking the dog might be a good way to create that space.

Sometimes, it can be as simple as changing your clothes, listening to music, going to the gym, showering, or whatever else you like. Whatever you choose, the point is to find ways to make that mental shift so your friends, family, and other loved ones don’t have to live with the “work” version of yourself perpetually.

Fire Negativity and Hire Positivity

Finally, let go of your failures and learn to celebrate your successes. Remove the negative people around you who drain you of energy. Learn to say “no” and fire your worst customers.

Most importantly, enjoy yourself!

Life’s too short not to love what you do—and while not every day of entrepreneurial life will be fun, we can all be more proactive in making it fun. If you think of your mind as a workplace, you can fire the negative thoughts and hire the positive ones.

With some discipline, you can turn this into a habit. And if you’re struggling to “fire negativity,” then all the more reason to make sure you’re plugged in with a community that can help you through the process.

Even if you haven’t reached your goal yet, remember to stop and smell success every once in a while to help you remember why you started this wild ride of entrepreneurship. You have worked hard, and you deserve to be happy.