It’s no secret that entrepreneurship in the startup field comes with a lot of uncertainty and stress. Researchers from Harvard Business Review interviewed 65 entrepreneurs and found that stress and fear (subscription required) had both motivating and inhibiting consequences. For example, fears related to financial stress actually encouraged greater persistence, while fears of failure related to aptitude had an inhibiting result.
Researchers have actually come up with a model to differentiate between good and bad forms of stress, known as the Challenge-Hindrance Stress Model. Using this framework, we find that “challenge stressors,” such as self-imposed deadlines or giving a presentation, correlate with higher productivity levels. On the other hand, “hindrance stressors,” such as burnout or conflict, tend to correlate with lower productivity and emotional well-being.
However, stress is not the only negative characteristic associated with entrepreneurship, as depression and other mental health problems are very common. According to one study, 49% of entrepreneurs reported they had mental health issues, with higher rates of depression, ADHD, substance use and bipolar disorder than the general population.
Clearly, there is no single solution to promoting better mental well-being. However, by eliminating hindrance stressors, prioritizing physical health and cultivating a positive work-life balance, entrepreneurs can improve their emotional well-being and perform better in their roles.
Prioritize Physical Health
Stress at work can have many negative effects on the body. Fortunately, there are many ways to improve your physical health and relieve stress naturally, even at work. Diet can influence our mental as well as physical health, so make sure to bring healthy meals and snacks to work to avoid falling into bad habits. Also, as cliche as the fitness-obsessed entrepreneur has become, there is much research to back up exercise’s mental and physical benefits. Studies have shown that high-intensity exercises help improve memory, and walking can help you overcome writer’s block and boost creativity. Consider taking short walks during your breaks throughout the day, holding “walking meetings” and hitting the gym before work to give you better focus and mental clarity.
Learn To Manage Your Time
Time management is an effective business hack to help you stay more productive and motivated to work toward fixed goals. Setting deadlines for tasks promotes challenge stressors that compel you to work harder to meet expectations.
In addition, budgeting your time allows you to set aside time for important things in your life, such as quality alone time, exercising and spending time with family or friends.
Here are some tips to help you budget your time better:
• Plan your schedule a week ahead of time. This allows you to budget your time accordingly and say no to unexpected meetings or things that don’t fit your schedule.
• Delegate tasks. Nothing is a bigger time suck than micromanaging your business, so learn how to delegate small tasks to employees. This tip both saves you time and helps employees feel involved.
• Plan around productivity. Research shows that most people’s bodies release cortisol in the morning, helping us feel more alert. So knock out your hardest tasks early in the day and plan for mindless administrative tasks when you feel more tired or burnt out.
• Stick to a schedule: Following a regular sleep, workout and work schedule will help you stay focused on those tasks and make the most of each of them.
Surround Yourself With The Right People
We often hear entrepreneurs brag about surrounding themselves with people who are smarter than them to help them scale their company. But what about surrounding yourself with people you can trust, who can empathize with you and support you when you need their help most?
Surround yourself with people who are the right fit at your workplace and in your personal life. I remember reading in the book Rich Dad, Poor Dad that the people you spend the most time with determine who you become. So ditch people who give you unnecessary stress and start building a support network that motivates you to stick to your vision as a founder.
Prioritize Work-Life Balance
Finally, if you want to improve your well-being as an entrepreneur, you must consciously improve your work-life balance. Whether it’s setting aside more time for family or picking up a hobby that enriches your free time, search for ways to balance out the stress of entrepreneurship and make your life away from work more fulfilled.
There is no single hack to improving your well-being. But by taking a holistic approach to health and wellness, you’ll improve your well-being and productivity as an entrepreneur.
