Life as an entrepreneur can be deeply rewarding. You make your own breaks, build a business that employs other people, and get to see your dreams become a reality.
However, the pressure that comes with being self-employed can be overwhelming at times. You may even experience panic attacks or develop conditions like anxiety while your business grows.
As an entrepreneur, you have to protect your mental well-being. Even small changes, like practicing mindfulness or creating a support network, can help you avoid burnout and maintain your long-term growth.
Work Stress
Around 72% of entrepreneurs say that they’ve experienced some form of mental health condition at some point in their lives. It’s hard to pinpoint why, exactly, anyone suffers from a condition like anxiety or depression, but excessive work stress may play a role.
Working in a stressful environment can exacerbate existing mental health conditions and make life as an entrepreneur that much more difficult. Work-related mental health challenges may undermine your productivity and decision-making skills. Conditions like depression cause a dip in cognitive performance 35% of the time and may lead to a vicious cycle of burnout and overworking.
Burnout is the bogeyman when you’re self-employed. You can’t afford to be continuously exhausted when you’re an entrepreneur. According to the World Health Organization, early symptoms of burnout include:
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Feelings of energy depletion or exhaustion
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Increased mental distance from one’s job, or feelings of negativism or cynicism related to one's job
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Reduced professional efficacy.
Fortunately, you can overcome burnout and rediscover your passion for entrepreneurship by learning to manage your stress and build a more resilient mindset.
Stress Mitigation
If you want to be an entrepreneur, you must accept that stress is a part of the job. As an entrepreneur, you’re responsible for the success of your business and may feel overwhelmed by the pressures that you face.
Lower the stress levels at your workplace by creating a balanced agenda that splits responsibilities and tasks fairly. If you oversee some employees, ask them if they have any capacity to take on more work. You may find that you’ve been shouldering too much of the load and can delegate some of the tasks that bring you the most stress.
Set time aside for rest and relaxation. Regular breaks and team-building tasks are a sign of a healthy, happy workplace. Ensure that everyone — including yourself — takes their lunch breaks seriously and encourage folks to take 10-minute mindfulness sessions whenever they need them. This can break up the monotony of the day and improve your productivity in the long term.
Financial Freedom
Most of the stress that self-employed folks feel is related to finances. As an entrepreneur, it’s easy to panic when your cash flow is in the red and investors are asking for dividends.
Finding financial freedom can seem an impossible task during the early years of your business. It’s all too easy to burn the midnight candle when you’re running at a loss, but you must remain committed to self-care even when your financial stressors feel overwhelming.
Start by taking care of your basic physical needs. Get 7 to 9 hours of sleep, exercise for at least 30 minutes a day, and square away some time for meditation or mindfulness. These basic tasks may take more time out of your day, but they will help you remain more productive and positive in the long run.
If you’re running on empty and still can’t make ends meet, consider automating or outsourcing some tasks. Menial tasks like accounting and scheduling take away from your mental energy and send your productivity into a tailspin. Spending a little on outsourcing or automating will free up time for more creative endeavors and help you achieve long-term financial freedom.
Resiliency
Entrepreneurs are tough. You’ll fail far more often than you’ll succeed, but you still need to dust yourself off and go back to the daily grind. Developing a more resilient mindset will help you overcome life’s challenges and improve your mental health.
The American Psychological Association (APA) defines resilience as the “process and outcome of successfully adapting to difficult or challenging life experiences.” The APA encourages “mental, emotional, and behavioral flexibility” that helps you stay the course and adapt to changes in your life.
Build your resilience by building a support network and writing daily affirmations. Start or end the day with a short list of things you like about yourself. Note down acts of kindness and moments of happiness throughout the day. Set time aside for a weekly meeting with a mentor or therapist. This will give you time to explore the experiences that are bringing you stress and can help you break out of a negative thought pattern.
Conclusion
As an entrepreneur, you have to protect your mental health. Burnout, anxiety, or depression will undermine your productivity and make running a profitable business that much harder. Build resilience by setting aside time for self-care. Lean on your support network and automate menial tasks that are taking away from creative endeavors.