7 Tips for Overcoming the Mental Health Challenges of Entrepreneurship

By Ashley J. Vaughan

I have spent most of my career working with hundreds of entrepreneurs at all business stages, from inception to exit. Through my experiences and relationships, I have gained a lot of insight into the emotional and mental health challenges that come with business ownership—challenges that are a constant, even among successful owners.

As an entrepreneur, the only way to avoid letting mental obstacles derail your vision is to develop mental fortitude. Maintaining a positive, “can do” mindset is an ongoing commitment you have to make so you can weather the ups and downs that come with running a business.

Overcoming the psychological and mental health challenges of entrepreneurship

1. Prioritize your mental health

Too often many of us wait until our mental health deteriorates before we address it. Maintaining good mental health requires effort. Daily self check-ins, journaling, meditation, rest, and, at times, professional assistance are all ways to invest in your mental health.

When working in the trenches of business ownership, it is easy to repress our emotions and delay doing the things we know support mental well-being. But waiting too late to realize that you need help can lead to consequences that significantly impact all areas of your life.

You are the cornerstone of your business. Your mental state impacts every aspect of your operation. When your mental health is in a bad place, it can magnify the smallest setbacks. With good mental health, however, achieving anything you want is possible.

2. Take care of the basics

As kids, many of us were tricked by the allure of adulthood. While I certainly miss not having to pay bills and having summers off, the thing I miss most about my childhood was not having to think about doing basic self-care activities—sleep, eating healthy, and going outside—because they were built into my routine. Funny how hard it is to regularly do these things as adults.

The root cause of a lot of emotional issues is when one of our basic physical needs—sleep, nutrition, hydration, sunshine, and human connection—is not being met. When we're feeling strapped for time, it is easy to make decisions based on convenience. It’s faster to order pizza on UberEats than it is to cook a balanced meal. And after a long week, it’s tempting to stay in and binge-watch Netflix on a Friday night instead of calling a loved one or going out with friends. The price, however, for neglecting your basic needs can be steep and long-lasting.

Mental and physical health are intertwined. By taking care of your basic physical needs, you bolster important mental qualities, such as your ability to self-regulate your emotions, exercise discipline, and think clearly.

Take care of all aspects of your health so that you have the energy and capacity to navigate whatever obstacles come your way.

3. Define success on your own terms

Most of us started our businesses because we had a vision of how to solve a problem for our customers. That vision may have also included milestones like a financial goal, a desire to have an environmental impact, or achieving a certain type of lifestyle. The important thing to keep in mind is that your goals are defined by you, based on your unique values and experiences. There is no universal success formula that applies to our lives.

When defining your own success criteria, it’s critical to ensure that they reflect your authentic needs and wants. Your definition of success will become your internal compass as you make business decisions and set priorities. It is also what will keep you motivated on the days when you question why you started a business in the first place.

Keep your definition of success top of mind by making it visible—write it down, make a vision board, or set up reminders on your phone. These visual reminders will come in handy when shiny distractions come your way, or worse, you find yourself comparing your life to someone else's and wonder if what you’re doing makes sense.

Success isn’t one size and achieving your goals will require sacrifice, so make sure you’re working towards something that truly aligns with who you are and what you want out of life.

4. Work with yourself

As a business owner, you are the boss, advisor, and cheerleader. In order to effectively manage yourself as a leader, it’s important to understand how you function. What kind of work environment do you need to be in to focus? What stresses you out the most? When do you feel most energized? What frustrates you the most? What do you tend to avoid?

You know yourself better than anyone in the world, but that intimate knowledge is most helpful when it is constructively channeled. Set aside time to really check in with yourself and determine what needs to be in place in order for you to optimally perform. Getting feedback from trusted people is also a great idea since having a blind spot or two is a common human tendency.

Once you’ve figured out your best-case scenario, implement systems and practices that work in your favor. If you’re most energized in the morning, schedule your deep work then. Hate doing accounting? Outsource it.

As an entrepreneur, it's tempting to think that we can and should do everything, and in the early stages of your business you might have to. But embracing that jack-of-all-trades approach for too long can lead to burnout and inhibit business growth. Work with yourself to establish a work environment that supports you.

More articles from AllBusiness.com:

• Strategies to Overcome Mental Health Stigmas in the Workplace
• Energize Your Business: 4 Mental Exercises for Entrepreneurs
• 5 Biggest Challenges to Managing a Remote Workforce
• Overcoming Founder’s Blues: How Entrepreneurs Can Recognize and Treat Depression and Anxiety
• How to Engage Remote Employees in 5 Simple Steps

5. Remind yourself of how far you’ve come—and how you got there

Humans have a natural negative bias that causes us to heavily weigh our shortcomings and quickly dismiss the positive outcomes we’ve achieved. Entrepreneurship brings many highs, lows, and curveballs, and even the most mentally strong people can struggle to remember the once scary things they’ve overcome.

It is important to give yourself credit for the steps you've taken and obstacles you've overcome to be where you are today. Check in with yourself regularly, keep a list or folder of your accomplishments, and celebrate every win—big and small.

If you’re that bad at hyping up yourself, call that one friend who is great at reminding you that you are, indeed, a badass. On those tough days, these practices will help you find your footing and the motivation to keep swimming.

6. Build and invest in your support system

Loneliness is one of the lesser discussed aspects of entrepreneurship, but it can have a profound impact on your mental health. This is especially true for solopreneurs or early-stage business owners who don’t have a partner or team.

When starting a business, it is not uncommon to work alone for long stretches of time and at non-traditional hours. This working schedule can make it hard to connect with friends and family, much less have time to network for your business or have fun. But forming a support system of like-minded peers who understand your experience is key to your emotional well-being.

Be intentional about forming a support group of other entrepreneurs who can help you both professionally and personally. In my experience, trying to find friends who run businesses can feel like a part-time job at times—scrolling Facebook groups, cold emailing on LinkedIn, going to poorly attended events.

Even if it seems a little daunting to outreach to strangers online or attend an event alone, your efforts will pay off when you create relationships with people who can support you and lessen the emotional burden of entrepreneurship.

7. Learn how to zoom out

One of the most important things you can do to build mental resilience as an entrepreneur is be able to identify and see the big picture. Problems come in all sizes, and the big ones can seem all-encompassing when you’re working through them. One day, though, when you're looking back on your life, you’ll realize that those challenging periods were mere snippets.

When things are tough or you feel like you’ve lost your way, remember to zoom out and take account of how big and ever-changing life can be.

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