Mental Cost of Entrepreneurship
For every success; there are multiple instances of failure, each one leaving indelible scars on those involved. For some, these failures may serve as the inspiration to try and try again while, for others, it may result in wounds that become insurmountable. Furthermore, even the entrepreneurs who do make it, in most cases, do so at the expense of many things in their lives, each adding stresses to them as individuals that are difficult to measure.
But what is the true cost to the entrepreneur?
Answer to this vary from individuals based on a variety of factors such as financial stress, extremely irregular work schedules, difficulty with relationships, personal resilience, anxiety and depression, self-worth issues, stress induced by attempt to start up a business while simultaneously holding down a full time job (the infamous side hustle) and even addiction.
Simon Slade describes other potential costs that entrepreneurs must pay like the need to sacrifice security, the required investment of a massive amount of headspace, the potential loss of control, externally induced stress by means as changes in the macro economy that are well beyond an individual’s control?
Mental illness and entrepreneurship: Detriment or the “secret sauce”?
A study conducted by researchers at the University of California and Stanford, found that 72% of entrepreneurs in the sample self-reported mental health concerns significantly higher than the comparison group (demographically matched non-entrepreneurs). Furthermore, a full 49% of the entrepreneurs sampled reported having one or more lifetime mental health conditions.
Unfortunately, the cultural stigma that exists with regard to mental health issues prevents many from seeking the help they need. Also, societal perception of the entrepreneur as hero myth may be preventing these efforts of seeking help from picking up the steam they need.
Take Your Power Back
There are many ways for entrepreneurs to take your power back by addressing mental health challenges. Contact our CEO Licensed Clinical Social Worker, Ms. Shanna A. Jefferson, to schedule your session today.
Upcoming Event: The Mental Cost of Entrepreneurship
Join me our CEO, Ms. Jefferson, as she celebrates 5 years as CEO and Owner of my behavioral health agency, Destination Greatness!
The event will feature expert speakers and panelist discussing pertinent issues for entrepreneurs and small business owners including branding, marketing, physical greatness, and finances. The Host, Speakers, and Panelists will be announced soon!
Enjoy live entertainment and hors d’oeuvres with Shanna, our VIP speakers, and special guests!
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