Even within a difficult operating environment, opportunities are rife for entrepreneurs to start or enhance a business targeted at solving problems, no matter how minute.
However, this is also a great time to analyse an important, yet often overlooked aspect of the entrepreneurial journey: the tricky link between the founder’s mental health and their business success.
So, is there a connection between entrepreneurship and mental health conditions?
A 2021 global sample study (72% Of Entrepreneurs Suffer From Mental Health Issues. Here’s Why—And What To Do About It) reveals an alarming truth – nearly 72% of entrepreneurs are struggling with mental health issues.
Osayi Alile (CEO, Aspire Coronation Trust Foundation) lifted the conversation many notches higher, sharing her thoughts as moderator during an event held by the Institute Of Directors Nigeria (IoD), tagged Your Mental Health, Your Human Right.
Asking ‘How Can We Improve Our Mental Health in The Workplace?”, Alile says:
Let’s talk about Mental Health in the workplace. This is fast becoming a growing conversation in Nigeria, as employers and employees interface varying mental health issues daily.
The entire conversation was an eye opener, and I thought to share some lessons with business executives, employers and professionals:
1. As Business Executives, we must prioritise our mental health as we juggle the responsibility of leading and running our businesses. Prioritise self care. Engage in activities that give you pleasure. Connect with people that support and encourage you. Ask for help when you need it. Prioritise rest, eat and sleep
2. As Employers, we must create an enabling environment for our employees to thrive and flourish by training them to note mental health signs and provide mental first aid. It is also important to have an Employee Assistance Program that creates a safe space where your employees have access to equipped and well trained therapists. It is possible.
3. As Professionals, we may not have a control over mental health triggers but we can control how we respond to them. Our responses are shaped by the type of content we consume, therefore we must be careful what content we consume across platforms including social media. Curate your coping mechanisms to help you when you are stressed. Take responsibility for mental health.
Statistics show that there is an increased rate with 25% Nigerians dealing with mental health issues, sadly, only a few have access to professional help. Therefore, we must prioritise self care as we navigate through tough economic times to ensure our health and productivity always.
What are you doing differently this week to protect your mental health and that of your team?
Special thanks to Dr. Maymunah Yusuf Kadiri (Dr.May), Leonard Okonkwo PhD, Dr. Abiola Salami, and to the entire IoD team for an enriching session.
In lieu of financial freedom and an abundance of time to please themselves, many founders find that they are faced with stress, anxiety, and burnout. By exploring the unexpected connection between entrepreneurship and mental health, society can look beyond the success stories, and address the unseen pressures of startup life.
RESOURCES