The Psychological Price of Entrepreneurship

startup, entrepreneurship, stress

There’s a maxim out there; failure is not an option.  It’s not that it’s an option that you choose, but failure is a reality. There is a tremendous amount of pressure that entrepreneurs put on themselves that, unfortunately, negatively affect their mental health. Being an entrepreneur comes with early mornings, late nights and unexpected outcomes. What you must keep in mind is that despite your hard work, things may not always go the way you want them to and may in some cases, not work out. For these very reasons it is important that you learn to set limits early on and that you surround yourself with a circle of trusted advisors that should be made up of other entrepreneurs.  Failure is sometimes the price you have to pay to eventually be a successful entrepreneur, however set yourself up so that it doesn’t destroy you. Here are 3 things entrepreneurs should keep in mind when starting their business venture.

  1. Starting a business can take a while and cause you tremendous stress-

You may have a timeline or particular process in mind when starting your business, as you should. But chances of things not going at your preferred pace, or as planned, are quite high.  A lot of things can go wrong between ideation and execution in business: Too much money, not enough money, bad advice, wrong approach, too early, not early enough, wrong place and wrong time, etc.  Because entrepreneurs must endure stress and uncertainty alone, it is important to have an outlet. Have a trusted mentor that you can lean on for unbiased advice. Be willing to wait and realize that some things may be out of your control.

  1. Comparing yourself to other entrepreneurs-

When people, or the media for that matter, speak about entrepreneurship they often tend to point to the Bill Gates and Mark Zuckerbergs of the world. What they don’t grasp is the amount of work that goes into becoming a successful entrepreneur. Understand that Marc Zuckerberg was just Marc before he became ‘Marc Zuckerberg’. Using these popular and successful entrepreneurs as inspiration is one thing. However, many entrepreneurs become preoccupied with imitating their success instead of imitating their work ethic. Having a model to look up to is great, but remember that creating your own path, on your terms, should be your goal.

  1. Don’t take things personally-

As an entrepreneur you will come across some failures. After much hard work, your business may not be achieving the results you hoped for. Simply put, it requires that you accept the fact that in spite of one’s efforts, the end result is beyond one’s control. Entrepreneurship requires tough skin. it really isn’t personal. It’s strictly business. Of course, it’s hard not to feel discouraged when you are so passionate about your business. take that failure and learn from it, do not allow yourself to be defined by it. use it as a stepping stone for your next venture, it is a tough lesson but an invaluable one to have.

Resilience is the most necessary trait for success. It is also important for entrepreneurs to have a good support system and surround themselves with people they feel comfortable opening up to. The process will be difficult; understanding what you’ve learned in the process will be of great use to you for your future projects.

Email This Post Email This Post

Leave a Reply

Your email address will not be published. Required fields are marked *