Over the month of May, I will be delving into Stress and Mental Health. Right now, you find yourself within the category of Founders and Stress, 1.
Straight away, I would like to share Startup Snapshot’s Startup Survey (7th Edition, 2023) The Untold Toll: The Impact of Stress on the Well-Being of Startup Founders and CEOS. Just like Startup Snapshot, I hope that by sharing data and insight like theirs and others - we can continue to break down the stigma around founder and entrepreneurial mental health.
Out of the 404 startup founders who participated in the Startup Snapshot survey, 44% of respondents experience high stress, 37% anxiety, 36% burnout, 13% depression, and 10% panic attacks.
In 2023, Balderton Capital surveyed over 230 startup founders across Europe. Multiple respondents to their survey reported having become physically and/or mentally ill as a result of sustained stress. Conditions included burnout, depression, anxiety, insomnia, as well as multiple instances of hospitalisation.
Despite founders being aware of the impact on their mental health, according to Startup Snapshot’s survey, 93% of founders said that they would definitely or potentially start another venture. The majority of respondents also said that they are enjoying the entrepreneurial journey:
“Some claim that the high enjoyment is due to the fact that founders are inherently optimistic people, a trait that they need in order to push their visions ahead against all the odds. However, others claim that this data point just highlights the slightly distorted story that founders tell themselves in order to keep motivated despite the hardships.” (Startup Snapshot’s Startup Survey, 7th Edition, 2023)
Enter the stress paradox. The stress paradox is the dual nature of stress, acting both as a motivator towards success and innovation, and as a potential detriment to mental health and well-being. This paradox suggests that while stress can enhance performance under certain conditions, it can also, over time, lead to detrimental changes in brain function and structure, affecting memory and emotional regulation.
Understanding and managing the negative aspects of the stress paradox is one of the ways in which you can maintain your mental health. Meditation, healthy and active lifestyle choices are all proven to manage stress - and - so does emotional support. If you are considering speaking to someone, reach out to The Farley, a talking therapy sanctuary for Founders, Entrepreneurs and anyone struggling with the impact of stress and feeling overwhelmed.
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