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The Mental Impact of Entrepreneurship

Posted by Carole Mahoney on 1/27/15 6:20 PM

mistakes

There is a chapter of ‘Ingagements’ that I am not sure I should write, or want to write, but if I listen to my gut, I have to write. I'm thinking of making it the first chapter of the book and calling it, “Get your head examined.”

The mental toll of entrepreneurship is quite real. If you are an entrepreneur that needs to sell, (build relationships), your mental state is going to be a key factor in your success.

The ironic challenge is that, I, like many other entrepreneurs, am more than a little crazy.

The topic came up again this past week after a client got onto our coaching call and was definitely not himself. As I asked him what was up, his responses made it sound like someone close to him had just passed away. I braced myself for the bad news and was relieved when he told me that he had only gotten a few hours sleep because he had been waking up at 3 am for no real reason.

I’ve had those nights, the night where I just could not shut my brain off and ended up spending the whole night awake. I know what a panic attack feels like because you are not sure you can make payroll. I’ve been down and wondered if I can ever do anything right. I’ve experienced the euphoric high of success, and also the guy wrenching weight of failure. The constant anxiety and uncertainty is exhausting- to you and everyone close to you.  

We talked about his anxiety attacks and ways to handle them so that he could listen and hear what prospects were saying in order to be able to help and respond appropriately. At the end, he asked how I was able to get over my own anxiety and depression.

This 2010 HBR article describes “entrepreneurism as a disease” and that to be successful we must “rely on the strengths and avoid the weaknesses.” I disagree that we should avoid weaknesses. If we don’t face our weaknesses head on and address them, how can we learn from our mistakes?

So I will tell you what I told him. I saw a therapist and learned some new coping skills. I hired a coach to give me perspective, motivation, and accountability when I needed it.

The fake it 'til you make it mindset is the accepted norm. Unfortunately, it prevents us from talking about the real mental toll entrepreneurship takes and treating the causes. As much as many will say it takes a special kind of crazy to be a successful entrepreneur, those same things can be the thing that keeps us from success if left unchecked.

And it’s not like I’d be the first one to talk about it, right? Aren’t more and more people are sharing their personal stories? Or maybe I am not the only one hesitating?

Topics: entrepreneur