Why bother with your mental health? Small Business Owners are sick of hearing about the need to take care of their mental health, they don’t have time, and their families need the money.
Often when we hear the term mental health, we mean mental illness and this perception is what drives business owners to avoid all conversations on mental health lest they be deemed weak or show a vulnerability that others can exploit.
This is especially true if the business owner is the main breadwinner for the family.
However, there are important reasons why business owners should prioritise their mental wellness for the sake of their business and their families. For example, it is likely that the pressure of running their own business gives the business owner higher levels of stress than the employee. These higher stress levels if not managed effectively, will significantly damage the body and reduce the ability of the mind to focus and function properly. Many business owners report that they feel isolated or lonely in their entrepreneurial journey. Their long hours and often singular focus is often misunderstood by family and friends, especially when their own identify and self-worth is tied to the business. An increase in stress levels can occur, especially if the business is not as successful as they want it to be. Business owners often struggle to separate time spent on and thinking about the business with their personal or family time. This can lead to burnout and the loss of the business.
The impact on business performance
The business owner may see decreased productivity if they have poor mental health reducing their decision-making capabilities, energy and focus. Stress about finances can create a vicious cycle, impacting both personal wellbeing and business performance. This can cause a reduction in performance and work quality. If the business owner suffers from depression, they could lose interest in their business and the business may fail.
Prevalence of Mental Health Issues
Mental health is about how people think, feel, and behave. Mental health care professionals can help people manage conditions such as depression, anxiety, bipolar disorder, addiction, and other disorders that affect their thoughts, feelings, and behaviours. According to the World Health Organisation (WHO), mental health is not merely the absence of mental disorders; it involves the capacity to manage stress, realize one’s abilities, learn effectively, work productively, and contribute to the community.
Mental health challenges are surprisingly common among entrepreneurs:
- 72%Â of entrepreneurs are adversely affected by mental health conditions.
- 60%Â of business owners report feeling depressed at least once a week.
- 75%Â of small business owners express concern about their mental health
Business owners should be alert to the possibility of declining mental health. There are many unique challenges that business owners face that require constant vigilance and balance of their business wellness.
Business owners can effectively manage stress and maintain their mental health through several key strategies. Ensuring that they gain the right level of support, familia, friends, mentors and coaches is essential as well as building an engaged network. In addition, the following two strategies is important:
Prioritising Self-Care
When you prioritise self-care you help balance your mental wellness. Here are four things you can do to exercise self-care:
- Regular exercise
- Proper nutrition
- Adequate sleep
- Relaxation techniques including meditation
Setting Boundaries
When we establish clear boundaries we can build an effective work-life balance. We can do this by focusing on the following items:
- Defining specific working hours and stick to them.
- Delegating tasks to capable team members or via automation
- Learn to say no to non-essential commitments.
- Take regular breaks throughout the workday.
- Implementing time management strategies can reduce overwhelm.
Why bother with your mental health?
When a business owner decides to prioritise their mental wellness they increase their resilience, improve their decision making, and enhance their work-life balance.
The business owner becomes a better leader of themselves and others and is more likely to foster a better working environment. By implementing these strategies, business owners can better manage stress, maintain their mental health, and create a more sustainable approach to running their business.
By recognising the importance of mental wellbeing and taking proactive steps to address it, entrepreneurs can improve both their personal lives and their business’ prospects.
This article was originally published in Elite Business Magazine here.
