Being a founder or entrepreneur is one of the most rewarding yet challenging paths someone can take. You get to be your own boss, bring your vision to life, and potentially change the world.
But, that thrilling ride comes with a huge amount of stress, loneliness and intense psychological pressure.
Let’s Talk About Stress
Failure can be a constant in entrepreneurship. In 2013, serial entrepreneur Elon Musk (at a New York Times Dealbook conference in New York City) said,
"Creating a company is a very difficult thing. A friend of mine has a saying: 'Starting a company is like eating glass and staring into the abyss.' You have to do lots of things you don't like.”
He continued:
“You have to put in incredible amounts of efforts and huge amounts of stress - and it's much more painful than most people realise. And most companies die. On a certain level in your brain, your brain - we didn't evolve, like, with companies; we evolved to respond to real death. And even though a company's death is not real, it's not like someone is physically dying, your brain doesn't quite understand that on the limbic system level. So it's really sort of painfully stressful.” Watch the full interview here.
In an article for Inc. Christine Lagorio-Chafkin fact checked Musk's statement by contacting Bradley Keele, professor of psychology, neuroscience, and biomedical studies at Baylor University. Keele agreed and explained that human brains have evolved emotional response mechanisms, primarily involving reactive chemicals, to help us survive dangerous situations in our environment - for example, prompting us to run away from predators. However, since humans are no longer regularly facing predatory threats, the modern-day environmental dangers that can trigger these same neurological responses include work-related stresses, financial burdens like mortgages, or immense challenges like trying to build a company from the ground up.
Keele states, “These kinds of psychological stressors activate the neurobiology in the 'old' parts of our brain, namely the limbic system, which evolved to cope with severe threats such as predation.” He notes that modern psychological stressors can linger for longer periods than the limbic system's emotional responses were developed to handle in our prehistoric ancestors.
In essence, our brains can get overloaded dealing with chronic, sustained stresses in a way they did not evolve to manage.
Let’s Talk About The Emotional Cost
Data about founder and entrepreneurial mental health is steadily becoming available and at The Farley we think this is very important. By being transparent about the emotional impact of start-up life and serial entrepreneurship we can continue to break down the stigma around reaching out for support.
In an article for Startups.com, Wil Schroter explored the emotional cost of being a startup founder. He said, “When we talk about building startups, we talk about lots of costs: Staffing costs, the cost of capital, cost per acquisition, and opportunity cost. But we never talk about the biggest cost – the emotional cost.”
He continued:
“Imagine if we could put a numeric value on how much “emotional capital” we have in the bank. The amount of stamina, the amount of positivity, the amount of physical wellness we have left. Startup Founders don’t just run out of financial capital – we run out of emotional capital.”
What are some of the emotional costs that start-up founders and entrepreneurs pay?
Loneliness
The loneliness of being a founder is brutal. You're the sole decision-maker with the entire weight on your shoulders. Employees look to you for guidance, but who do you turn to? Very few understand the unique challenges and isolation of that role. As the captain of the ship, it's easy for founders to get caught in their own heads and thought loops.
Relationships
You're married to the business, putting in insane hours that loved ones don't understand. Date nights, family time, friendships - it all gets sacrificed in the hyperfocus on your startup baby. You're constantly stressed, forever tied to work, and it's easy to let relationships fall by the wayside.
How can talking therapy help Founders?
Entrepreneurship is a lonely and stressful road, but Founders don't have to go it alone.
We understand the roller coaster that you are on. We know that building and creating takes an immense emotional health toll.
Our talking therapy approach gives Founders a safe and confidential space to clear the mental noise and helps them feel human again.
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