Justin Starbird .
August 31, 2023 .
Entrepreneurship and Mental Health: Navigating the Psychological Struggles
Entrepreneurship is a thrilling journey that often offers the promise of freedom, success, and personal fulfillment. However, beneath the surface of this exciting venture lies a lesser-discussed aspect: the impact on an entrepreneur's mental health.
The path to building a successful business is fraught with challenges and uncertainties, which can take a toll on the psychological well-being of even the most resilient individuals. Rick Elomre, former NFL player turned successful entrepreneur joined host Justin Starbid on our latest episode of The Inspectations Podcast, "From Athlete to Entrepreneur: The Inspiring Journey of Rick Elmore" to explore, among other topics, the mental health aspects of entrepreneurship, delving into the pressures, anxieties, and stresses entrepreneurs face.
The Myth of Effortless Success
In today's digital age, social media often paints a picture of effortless success for entrepreneurs, creating an unrealistic expectation of what building a business truly entails. Rick Elmore, a former NFL player turned entrepreneur, knows all too well the damaging impact of these misleading portrayals. As the founder of Simply Noted, he acknowledges that social media gurus who claim overnight success only add to the pressure that aspiring entrepreneurs face.
To combat this myth, it is crucial for entrepreneurs to remember that success is a journey filled with ups and downs. Every overnight success story is built on a foundation of dedication, hard work, and resilience. Acknowledging that challenges are part of the process can help entrepreneurs cope better with setbacks and maintain a positive mindset.
Balancing Work and Personal Life
One of the most common struggles faced by entrepreneurs is achieving work-life balance. Starting and scaling a business demands immense dedication and time, often leading to long hours, sleepless nights, and missed personal commitments. Rick highlights the responsibilities of running a company and being a devoted family man and understands the importance of finding this balance.
To maintain mental well-being, entrepreneurs must carve out time for self-care, family, and hobbies. Building a support network of understanding family members and friends can alleviate the stress and loneliness that sometimes accompany entrepreneurship.
Dealing with Negative Influences
Negative influences, whether from external sources or self-doubt, can be particularly detrimental to an entrepreneur's mental health. Rick points out the importance of surrounding oneself with positive and supportive individuals who can provide encouragement during challenging times. He emphasizes the significance of steering clear of negative people, even if they are close friends, as they can impede progress and breed self-doubt.
Learning to manage negative influences involves setting boundaries and focusing on constructive criticism rather than dwelling on negativity. Entrepreneurs should also engage in self-reflection and seek professional help if needed to tackle underlying mental health issues.
Coping with Uncertainty and Stress
Entrepreneurship is inherently laden with uncertainties and stresses. On this episode of The Inspectations Podcast Rick speaks candidly about the anxiety that comes with running a business and the sleepless nights spent trying to find solutions to problems. Such stress can lead to burnout and negatively impact both physical and mental health.
Developing coping mechanisms to manage stress is vital for entrepreneurs. Regular exercise, mindfulness practices, and seeking support from mentors or fellow entrepreneurs can help alleviate anxiety. Implementing effective time management strategies can also reduce feelings of being overwhelmed and bring a sense of control back into an entrepreneur's life.
The entrepreneurial journey is an exhilarating one, but it comes with its own set of mental health challenges. Rick Elmore's experiences as a former NFL player turned successful entrepreneur shed light on the importance of addressing these challenges and seeking support. Acknowledging that building a business is not always a smooth ride and being prepared to face uncertainties can help entrepreneurs navigate their way to success while maintaining their mental well-being.
Remember, as an entrepreneur, you are not alone in your struggles. Seeking out a community of like-minded individuals and sharing experiences can provide valuable insights and encouragement. By prioritizing mental health and adopting effective coping strategies, aspiring entrepreneurs can tackle obstacles with resilience and pave the way for a successful and fulfilling entrepreneurial journey.
Discover even more inspiration from Rick on “From Athlete to Entrepreneur: The Inspiring Journey of Rick Elmore” live on The Inspectations Podcast now! Stay tuned as we continue our journey with Rick revealing even more insights in our continuing, accompanying blog series.
Previous blogs in this series include:
From NFL to Entrepreneurship: The Inspiring Journey of Rick Elmore
About the Author: Justin Starbird I have been fortunate to have had several entrepreneurs that came before me take the time to “pull back the curtains” and allow me to be a part of their multi-million dollar companies… and actually value my input. They allowed me to see their mistakes and learn from their real-world lessons so that I wouldn’t have to pay the expensive costs of experience on my own. Additionally, they taught me what really works and the importance of action - not just ideas.