Did you know that 72% of entrepreneurs have mental health problems?. Since the beginning of the COVID-19 pandemic, there has been a rise in the number of suicide cases amongst entrepreneurs. Many entrepreneurs face serious mental health problems due to slow business operations, debt, and layoffs. According to an article by She Leads Africa, up to 72% of entrepreneurs have mental health problems.
Stress and depression are some of the factors that contribute to mental health conditions. Entrepreneurs experience a lot of stress and depression as they pursue their entrepreneurial journey. When business is not performing well entrepreneurs become emotional and nervous. They constantly stress about the success and failure of their ventures. Some even commit suicide because of the difficulty to open up and talk about the challenges they face. Most entrepreneurs want to endure the pain on their own until they break down mentally.
In episode 13 of Pat on Brand’s podcast, Bongani Chinkanda talks about his entrepreneurial journey and provides some interesting tips on how to maintain strong mental health in 2022. Malawian born, Chinkanda is now a professional speaker, and managing director of Bravado. He is a passionate marketer with extensive experience in the marketing industry. Here are the key takeaways to good mental health in 2022.
KNOW WHEN TO QUIT
As an entrepreneur, it is crucial to know when to quit. According to Chinkada, “There is a dangerous optimism that entrepreneurs have, they never give up”. If you admit that the business you operating is not working, It is important to call it off. It is also beneficial to consider what the most crucial problems are that leads to the success or failure of the business. Mastering these skills will ultimately put you in control of your mental health.
HAVE A PAIN STRATEGY
Entrepreneurs go through different stages of growth, and there are a few things they need to do to address those challenges. Some of the most common problems that entrepreneurs face are when clients are pulling out of business, terminating a contract, or when the business is not doing well. To overcome the problem, entrepreneurs should implement a pain relief strategy. The pain strategy helps with navigating pain and finding solutions to deal with it. It is important to understand that emotions affect the whole being. Acknowledge the pain and have the strategy in place. For instance monitoring how you do things, changing a daily habit, or participating in extracurricular activities.
HAVE A STATEMENT TO DRIVE YOU THROUGHOUT THE YEAR
It is important to have a personal mission statement as it motivates you to have a positive impact and helps you feel satisfied in your everyday life. It can be a personal mission statement that is linked to your passion or career goal. Being driven by a personal mission statement is being clear and intentional about the impact you have in the world and the people around you.
DON’T ATTACH EMOTIONS TO YOUR BUSINESS
One of the riskiest things that most entrepreneurs do is being emotionally attached to their businesses. Most entrepreneurs treat their businesses as their babies. Chinkanda said, “Embrace failure the same way you embrace success”. If the business is stressing proving to be more stressful than usual, entrepreneurs need to find a way to calm their stress and face challenges with optimism.
Maintaining a good mental health is very important for every individual, especially for entrepreneurs. Finding a balance between working towards success and maintaining a healthy mental health is a complex, yet crucial task for most business owners.