The entrepreneurial journey is often romanticised as an exhilarating adventure filled with excitement, success, and financial rewards.
The reality is that entrepreneurship can be a hugely challenging endeavour. In fact, some argue that it’s one of the most stressful jobs available.
Being a business owner offers autonomy and independence, but long working hours, role ambiguity, consistently dealing with problems, loneliness and financial uncertainties can easily take a toll on mental wellbeing.
It's vital to prioritise your mental health as you look after your venture's financial health.
Keep reading to discover 12 strategies for maintaining mental health while navigating the often unpredictable world of entrepreneurship.
1. Maintain Hobbies and Interests Outside of Work
Starting your own business can feel all-consuming, taking up a considerable amount of your time and headspace. While passion for your business is essential, so is having a life and identity outside of work.
Be sure to explore different hobbies and interests that spark joy and give your life meaning outside of your business. Whether it's travel, cooking, or reading, these activities contribute to a more well-rounded life.
2. Set Boundaries
Another strategy for maintaining balance is to set boundaries.
Set specific working hours, and when the workday concludes, make a conscious effort to detach from business concerns. You might create an “end of work ritual” such as putting on some music or lighting a candle. This practice helps foster a better sense of control over your time.
3. Rest is Productive
In a culture that glorifies hustle, it's important to recognise the value of rest.
Quality sleep and downtime aren’t adversaries to productivity – they’re essential components. Prioritise adequate rest to recharge your mind and body. The consequences of not doing so include free-floating anxiety and burnout.
Also, get into the habit of taking regular breaks throughout the day. Whether it's a quick walk, a short breathing exercise, or a mindful cup of tea, these breaks contribute to increased productivity, improved focus, and mental wellbeing.
4. Embrace Frugality and Minimalism
Financial stress can be a significant source of anxiety for entrepreneurs.
Embracing frugality and minimalism in your personal and professional life can be an antidote to this. By simplifying your financial commitments and adopting a mindful approach to spending, you can create a more stable foundation for your business and alleviate financial stress.
5. Use Mental Wellbeing Tools
Using problematic coping mechanisms such as unhealthy food or alcohol to deal with stress and anxiety?
Why not be more proactive about your mental health?
Become the scientist of your own mental wellbeing, experimenting with different tools and discovering what works best for you.
There are many options available. It could be mental wellbeing toolkits, mental health advice emails, or meditation apps. Incorporate these tools into your routine to support your mental wellbeing.
6. Be Kind to Yourself and Celebrate Achievements
Many business owners are driven by a high need for achievement. They place excessive pressure on themselves to perform well and are often self-proclaimed perfectionists.
This mindset often stems from well-intentioned parents who focused their praise and attention on their child’s achievements, signalling to them that being productive equates to being loved and worthy.
With this mindset, it's easy to fall into the trap of self-criticism. Try to be kind to yourself, acknowledging that challenges are part of the journey and not a reflection of your self-worth.
Celebrate your achievements, no matter how small, and practice self-compassion in times of difficulty. Cultivating a positive and forgiving attitude towards yourself is a cornerstone of maintaining mental wellbeing in the demanding landscape of entrepreneurship.
7. Get Comfortable with Delegation and Outsourcing
The tendency towards perfectionism can lead to entrepreneurs taking on everything themselves.
However, learning how to outsource responsibilities is a crucial skill. Trusting others with certain aspects of your business allows you to focus on your core competencies, lightens your workload and contributes to a better work-life balance.
8. Discover Systems for Healthy Habits
Entrepreneurs often work harder and longer to accomplish their goals. They tend to neglect basic health needs such as a balanced diet and regular exercise.
Figure out systems to incorporate healthy habits into your life, such as building a repertoire of healthy, quick meals for when you’re too tired cook. Implementing systems for healthy habits can be a game-changer for your mental wellbeing.
9. Manage Your Expectations
In a landscape where success stories often dominate the narrative, be mindful of survivorship bias. Recognise that the businesses celebrated for their rapid success are often outliers, and the journey for most entrepreneurs involves years of hard work, learning, and persistence.
It’s a tough journey.
Embracing the reality that businesses often take years to get going helps you navigate the inevitable ups and downs with resilience and a long-term mindset.
10. Adopt a Growth Mindset
Similarly, embrace the philosophy that challenges, setbacks, and failures are not roadblocks, but opportunities for learning and growth.
Seeing failure as an integral part of the learning process helps destigmatise setbacks and creates a culture of continuous improvement.
Rather than being discouraged by obstacles, entrepreneurs with a growth mindset see them as stepping stones toward future success.
11. Accept Uncertainty
Uncertainty is an inherent part of the entrepreneurial journey – and life in general.
Embracing uncertainty requires another shift in mindset that acknowledges that life is ever-changing, and that certainty is a fleeting illusion.
What’s your mindset towards uncertainty? Developing self-awareness around your response to ambiguity can help you become a more resilient individual.
12. Broaden Your Definition of “Successful”
Deriving your sense of self-worth from entrepreneurial pursuits is risky. The success of your business depends on a large variety of factors, many of which you have no control over.
To have a more stable sense of self-worth, try broadening your definition of what it means to be “successful”. Watch the video below to learn more:
Summary
Navigating the entrepreneurial journey requires more than just business acumen and a bold, go-getter attitude. It demands a holistic approach to wellbeing that encompasses resilience, physical health and a sense of balance.
Incorporating these strategies into your routine allows you to succeed in your professional endeavours while cultivating a fulfilling and sustainable entrepreneurial lifestyle.
Remember, awareness and action are the first steps to taking good care of your mental health.
You’ve got this!
Self-Guided Support for Mental Health
Research shows that self-help materials are often enough for people to overcome mild to moderate mental health difficulties without professional support.
If you’re interested in a self-guided program that includes tools from a variety of therapeutic approaches, be sure to check out The Mental Wellbeing Toolkit.
