The costs of mental health related to creating a new business

David Baird became an entrepreneur because he wanted to do something positive. But he had no idea of ​​the high cost for his mental health.

He launched Selocial – an online community that supports artists and musicians like himself – in 2014, starting the operation up to a few thousand members.

But the pressures of starting a business left him stressed and unable to sleep, which he said contributed to the collapse of his first marriage. This even led him to live out of his car for a few months. When he finally consulted a doctor, he was diagnosed with chronic depression.

"People like me are scared to talk about it because they think their comrades will think bad of them," Baird said. "You must have this positive attitude all the time."

A study conducted by a team of University of California and Stanford University researchers of 242 entrepreneurs in Northern California found that 49% of them had mental health problems, compared to 32% of 'a control group from the local population.

Michael Freeman, a clinical professor in the Department of Psychiatry at the University of California at San Francisco, led the research after observing entrepreneurs for several years. He baderts that certain personality traits, such as narcissism and mistrust of strangers, are often essential to creating a business.

According to Dr. Freeman, these features may not be a significant problem in most situations, but they can trigger mental health trauma when people are forced to work under pressure.

"Entrepreneurship can exacerbate minor problems because there is a lot of stress and sleep deprivation," he says. "But there is really a chicken that comes before this egg."

Marcel Muenster is both a doctor and founder and investor. His goal is to help the companies he supports to create a workplace conducive to both homeowners and employees.

"We are the first fund in the world focused on mental health," he said, adding that he was shocked by the magnitude of the mental health problems he had encountered.

The problem is often that the founders do not want to admit mental health problems because they see it as a sign of weakness, according to Dr. Muenster.

"I'm not sure that you can meet these challenges, but you can make people more resilient to them," said Dr. Muenster, adding that he encouraged the founders in which he invests to share with him and to solve their mental health problems.

Mario Alonso Puig, a surgeon with more than 26 years of clinical practice and president of the Center for Health, Wellbeing and Happiness at IE University in Madrid, says maintaining a healthy mind is essential for entrepreneurs as for students.

Although only a small percentage of IE students are starting up businesses, Dr. Puig found that their chronic stress was very high. He attributes this to people who fail to adopt a meaning that goes beyond just making money.

"We can not be happy human beings if we are only looking for control and status," he says. "We also need to feel that we are growing and that we are improving as human beings."

Dr. Puig points out that entrepreneurs are also exposed to poor nutrition, lack of physical activity and lack of time to relax, which can lead to serious health problems, including high blood pressure and, in extreme cases , an inflammation of the brain.

"Taking care of ourselves is essential, not only to stay physically healthy, but also to stay effective in making good decisions," he says.

Stress affects the cognitive performance of a person, he adds. "If we are stressed, some parts of the brain are not functioning properly, which leads us to make bad decisions."

The entrepreneur Emilian Popa started his first business at the age of 10 in his native Romania, selling socks on the other side of the border with Bulgaria. He launched his first start-up in adulthood in 2010 – a Groupon-inspired initiative for the South African market, which he sold to Rocket Internet six months after its launch – while completing a MBA at Columbia Business School.

This experience pushed Mr. Popa mentally and sensitized him to the psychological risks badociated with starting a business, when he later became an investor and mentor to other founders.

"I am lucky because I am one of the 30 to 40% of founders who have never suffered from depression, anxiety, or other mental disorders," he said. he declares. He adds that regular exercise, observing what he eats and the support of his fiancee have been essential to avoid being overthrown.

"As an entrepreneur, I have always struggled to separate my personal life from my private life," he says. "But I think it's largely because I'm trying to solve or prevent problems."

The presence of good mentors is another thing that has helped tremendously, adds Popa. More importantly, he treated his problems by being open to moments of anxiety with mentors and coaches.

As an investor, he now finds that too few founders are equally willing to share their problems in the same way.

"I'm not ashamed to ask for help," Popa said. "The power of many is better than the power of one, and I believe that I am a good listener and am always looking for the advice of people around me."

Paul Hokemeyer is a clinical psychotherapist in Beverly Hills specializing in mental health issues related to celebrity, power and success.

It is difficult to get in touch with this group, he says, because what defines these people is the isolation, the suspicion of strangers and the ability to control their world.

"They do not teach vulnerability in business schools," he says. "They teach [that] to be a person of power, you must be a master of the universe. "

However, according to Hokemeyer, attitudes have now begun to change. "People who admit failure are part of it," he says. "We can learn from failure and move on."