"I need help" - Why Founders Should be Encouraged to Say Those Words
Recent articles from Crunchbase and Forbes focused our attention again on Founder mental health. Mental health issues manifest themselves in the form of burnout, depression, self-doubt, anxiety and loneliness, … the struggle is VERY real for many Founders.
They need help!
However, only 25% of startup CEOs surveyed in First Round’s State of Startups 2019 Report are currently working with executive coaches, with a similarly low percentage working with therapists.
What can we do to support Founders that are out there changing the world? Working damn hard at disrupting, innovating, building, and creating?
Remove the Stigma
There is an image of the successful Founder never sleeping, “crushing it”, fearless in the face of setbacks and third-party doubt. Founders wear exhaustion and isolation like a badge of honor. It’s lonely at the top. Who said it had to be?
An image that has been perpetrated by the media. A narrative that has been told over and over. Stories that focus on the overnight successes. Headlines that follow VC funds and their investments. The big bets. The idea that those who work the hardest and grow the fastest, will raise the most money. Then when the money comes – the pressure to hit the numbers before the money runs out amplifies burnout.
Do the venture capital funds that invest in, and put pressure on, these Founders to grow at all costs have a role to play in addressing these issues? The Crunchbase article highlights one fund, Felicis Ventures, that is committing money to Founder development services. Yes, that is a broad term and money doesn’t equal a willingness to be vulnerable. To put yourself out there without a fear of being judged. Will people think you are not up to the job? Are things not going well? Do you need to be replaced by an experienced CEO?
Saying Yes to Help
There is no doubt that it’s getting better and that more people are talking openly about their therapists and coaches across all sectors of society, not just among entrepreneurs.
There are many places to turn for help and at different stages of your business you will have different resources available to seek out help. Regardless of the form (meditation, peer groups, therapists, coaches, turning to loved ones instead shutting them out), Founders need to shift their mindset and make their wellbeing a priority. The mindset that you must work around the clock to be successful, that Founders must appear strong at all times to instill confidence and that a Founder must be good at all things. What about a self-care mindset?
Why Not?
A Founder’s wellbeing ultimately impacts performance (not to mention all the negative impacts to one’s personal life and health).
I leave for another day a break-down of the why and how but briefly …by addressing your mental health, your personal development, your whole person, you can build resilience, gain clarity, become more confident, achieve better communication, and grow your emotional intelligence. Taken together, these will positively impact your leadership, your decision making, your productivity, and your creativity.
It’s win-win. And it’s about time that we remove the stigma that comes with asking for help!
