An entrepreneur’s life may sound wonderful when you look at it from the outside the box. It can seem very tempting to create your own schedule, set your own rules, and start the company you want to work with.
In fact, successful entrepreneurs are idealized by society because they seem happier, more successful, and more enthusiastic than anyone else. There are thousands of books, courses, and companies in the market that sell the dream of getting a job entirely. Still, there is a hidden and dark side of being an entrepreneur that is rarely spoken about, like a lifestyle that causes various mental illnesses.
The psychological costs they pay for their choices are among the secrets of many entrepreneurs. The entrepreneurs required to have a job puts them in the high risk group for some mental illnesses.
Mohab Ayoub, CEO of Algedra Interior Design gives us some facts about the blind spot of entrepreneurship in which he is a young entrepreneur, founded several companies from interior design to marketing, from fit-out to home decoration and has managed them successfully.
However, his advice to the youth about entrepreneurship is to believe in themselves, and focuses on positivity. Everything will be passing through. So, just focus on what you always dream of.
Here are some aspects of entrepreneurship that can ruin your psychology:
Depression – The isolation that many entrepreneurs are exposed to brings with it a higher risk of depression. In addition, many entrepreneurs working long hours may not have time to look after themselves. The time is money mentality means that entrepreneurs spend less time on activities that protect individuals from depression, such as sleep, entertainment, and sports.
Depression has many forms and may not always manifest as sadness. Sleep disturbances, sensitivity and changes in weight are just some of the symptoms that can be associated with depression. Entrepreneurs may try to mask the symptoms of depression by working harder or confuse them with stress, which will make the symptoms worse.
In extreme cases, entrepreneurs may also be at a higher risk of suicide. Indeed, Robert Herjavec of Shark Tank recently admitted in a statement to People magazine that he had attempted suicide after his divorce last summer. His bold statement is proof that money, fame and success cannot prevent mental health problems.
Self-worth problems – Many entrepreneurs associate their self-worth with the profit they earn. When things go well, their self-esteem skyrockets. However, when they lose some money or fail to achieve their goals, they start to have personality problems. This is because their work has become who they are, not what they do.
Many entrepreneurs believe that if they work enough, they can be successful. Despite this perception, statistics are relentless. According to employee data, only one-third of small businesses can survive for more than 10 years. In the technology sector, the situation is even worse; Some reports suggest that 90% of these businesses failed. Problems experienced in today’s world, where succinct words such as ‘There is no option as failure’ circulate in the languages, can lead to psychological crises.
Anxiety – Entrepreneurs are not only under stress, but also under enormous pressure. Knowing that your ability to pay this month’s home installments depends on the next job you are going to do or feeling that you cannot spend enough time with your family because you have to work can create an incredible anxiety disorder in individuals.
Many entrepreneurs have difficulties while continuing their daily life because they are constantly worried about their business. Their strong desire to be successful causes them to constantly question their behavior and fictionalize the worst scenarios. As a result, anxiety can knock out many entrepreneurs and cause a feeling of burnout.
Addiction – Entrepreneurs are passionate by nature, even a little obsessive. Despite the problems they encounter in their relationships or health, the urge to continue can actually be an addiction.
According to a scientific study from 2014, entrepreneurs show signs of behavioral addiction such as obsessive thoughts, periods of withdrawal-concentration, and negative emotional returns. Similar to behavioral addictions such as gambling or the internet, serial entrepreneurs may experience negative consequences from their drive to continue.
Entrepreneurs can also be among high-risk groups for other addictions. Studies show that people who have addiction in a subject can also exhibit behavior or substance addiction in different areas.