Managing Mental Health as an Entrepreneur: Tips and Resources

2023-11-09 21:18:14

“My body and my mind said ‘no,’ but even I didn’t know I was going through it until it happened,” he admitted. an interview American gymnast Simone Biles. The athlete made the decision to withdraw from the 2020 Tokyo Olympics citing mental health problemswhich generated an important debate not only in the sports field, but also in the social and work fields.

Setting limits is important whether you are an elite athlete or an entrepreneur. In fact, the 72% of entrepreneurs say that their work has affected their mental health54% feel stressed regarding the future of their startup and 37% suffer from anxiety, according to a recent report published by the Startup Snapshot platform.

Precisely, to find balance in the life of an entrepreneur, non-profit associations such as Ancla.Life, which seeks to prevent cases of chronic stress, anxiety and work exhaustion. “We focus on addressing these episodes specifically because they are the most common in the world of entrepreneurship,” explained Carlota Mateos, co-founder of the company, during the celebration of the sixth edition of BBVA Open Summit 2023.

How to take care of psychological well-being

“The space of vulnerability, of risking losing that feeling, of risking pain and saying ‘I’m sad’ or ‘I’m tired’ is a basic right that must be recovered,” stated the psychologist and writer Pilar Sordo in her intervention in BBVA We Learn Together. At the same time that the visibility of mental problems increases, the mechanisms for society to combat them also increase. Entrepreneurs can also follow some tips to take care of their psychological well-being.

Manage failure. Half of entrepreneurs globally say they are afraid of failure, according to the report ‘2022/2023 Global report adapting to a new normal’ by the Global Entrepreneurship Monitor (GEM). However, overcoming these fears is part of the process of developing an entrepreneur, since sometimes opportunities also arise from defeats. Furthermore, in Spain it is common to experiment with various business models: 62% of entrepreneurs have founded more than one project, according to the report ‘The socioeconomic contribution of South Summit in Spain’, carried out by South Summit, one of the reference events of the entrepreneurial ecosystem in which BBVA Spark has been present, the bank’s comprehensive initiative to accompany high-growth companies.
Learn to delegate. Entrepreneurs are known for assuming almost all responsibility for their businesses, but this path can lead to ‘burnout’ or burnt worker syndromeincluded by the World Health Organization (WHO) in the International Classification of Diseases. To avoid this, it is advisable to avoid overloading tasks and rely on the rest of the team to be able to focus on management.


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