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Psychological problems as a payment for success in creating breakthrough products

Hello, Habr! I present to you the translation of the article "Investors and entrepreneurs need to address the mental health crisis in startu" by Jake Chapman.

Colin Kroll was a co-founder of Vine and HQ Trivia, which brought joy to millions of consumers; Anthony Bourdin was a chef, journalist and philosopher who brought understanding and brought together millions of people; Robin Williams has built a career as a brilliant comedian and actor. What unites all these people? All of them were geniuses in their field and they all died too early, which became a terrible tragedy for the world.

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Very often, the most brilliant and talented people have the biggest problems, and nowhere is this more pronounced than in the field of entrepreneurship. With each such premature death, the problem of mental health briefly falls into the focus of public attention ... However, attention is paid exactly as long as the standard news release lasts, and nothing changes ... But the time for chatter has passed and it is time to take serious action.

The epidemic of mental illness is a reality. This year, 18.5% of the population suffers from mental illness. And 4% of them experience such severe problems that they are unable to live their lives normally . And this means that it is likely that you or someone you know is experiencing suffering and needs support right now.

Moreover, unlike many of the problems that we face today, most of the mental disorders (depression, anxiety, addiction, etc.) may well be solved by the application of human effort. We not only have to do something, but we can do something.

To date, the statistics of mental illness does not inspire optimism and looks especially terrifying for entrepreneurs. According to studies by Michael Freeman , entrepreneurs are 50% more likely to report mental problems, and a number of diseases are found in businessmen several times more often than other people.

Businessmen:

  • 2 times more likely to suffer from depression
  • 6 times more likely to suffer from ADHD
  • 3 times more likely to suffer from addictions
  • 10 times more likely to suffer from bipolar disorder
  • 2 times more often hospitalized
  • 2 times more likely to have suicidal tendencies

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Resolving an impending psychological catastrophe in the field of entrepreneurship should become a moral imperative, and a wise investor should consider this as one of the functions of his business.

Venture capitalists make money from the tears, blood, and sweat of entrepreneurs. Although it is thanks to their efforts that we get this or that result. You can continue to consider them as a means of achieving the goal, or treat them like people.

And when I try to do this: I try to understand the identity of entrepreneurs and watch them constantly struggle, I can not remain untouched. Seeing their business successes is just as important to me as getting my own results.

As Michael Freeman writes :
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And depression, anxiety and mood disorders - all this actively undermines their performance. They often contribute to burnout, cofounder conflict, toxic corporate culture, increased staff turnover, inability to hire the best talents, inability to “show up” at important meetings and pitches, and poor decision making in general. According to Noam Wasserman of HBS, 65% of unsuccessful startups fail for reasons that could have been avoided, for example due to a conflict of co-founders. All these problems are exacerbated when the founders are in a state of intense mental and emotional stress.

Let's assume that in a portfolio of 20 companies, 15 of them fail or fall behind, and that Noam Wasserman's statistics are 65 percent correct. This would mean that 10 out of 15 companies (65 percent) failed for completely predictable “human” reasons. If we were able to help at least half of these companies avoid the failures caused by burnout and mental stress, this would mean that another five companies would be successful, doubling the number of successful results in the portfolio.
And even if you change the strategy for one of ten companies you will already win. In other words, supporting startups before their “problems with people” become business problems provides a 20 percent improvement in productivity. Even if you are indifferent to the personal life of an entrepreneur, you should still take care of him, because he cares about the profitability of your portfolio.

And, of course, such statements sound great, but words are not enough and we must act.

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Why do entrepreneurs suffer much more acutely?


Mental health problems pervade all sectors, not just entrepreneurship, but the above statistics seem to indicate that it is in business that the problem manifests itself most clearly. What is the reason? It is difficult to clearly answer this question, and soon modern research will help us identify these factors. At the moment, based on our own observations of entrepreneurs, we believe that there are several explanations.

Self-selection. Most of the founders are smart, motivated and experienced people, whose resume can allow them to provide for themselves (for example, average salaryFacebook $ 240,000). But they still choose a more creative and creative and at the same time more exhausting and uncertain path. These people are almost certainly predisposed to certain conditions (e.g., ADHD). In his book, The Da Vinci Method, Garret Loporto quoted Fortune magazine claiming that people with ADHD are 300% more likely to create their own company than others.

Poisonous industrial trails. The stories that our industry tells us look less real than the covers of fashion magazines, however, they are no less destructive. Photographed photos of “ideal people” create an unattainable standard of beauty; and likewise, a steady stream of stories of “success” create an unattainable standard for businessmen.

Startups are hard. The magic of teamwork is that people's skills complement each other. Only here, at the beginning of their activity, entrepreneurs have no team and they have to do everything themselves. Work on projects that do not fit in with the leader’s innate skills usually drains him emotionally. In an early startup, introverts in a company often have to come up with promotional offers, while extroverts are forced to sit at a table and work in CRM.

Startups cause alienation.The inclusive nature of a startup often forces entrepreneurs to spend less time with family, friends, and significant other people, and many of them are forced to move away from these support groups for financial or strategic reasons. As stress builds up in the company, entrepreneurs are increasingly investing in work and increasing their efforts (a natural reaction to an emergency). This trend only further burdens the entrepreneur, drowning their supportive relationships and reducing their ability to cope with company pressure.

An entrepreneur must be a rock.The founder is constantly under tremendous pressure from the company and its problems. As a result, he is often alone when he really needs support. Often, the founders report that they are not able to discuss the problem with the co-founders (especially if this problem concerns them specifically). They cannot delegate their problems to subordinates, and they feel that their friends and family do not understand them and do not want to hear about the company again.

Syndrome "I - this is my company." Entrepreneurs often blur the boundaries between themselves and their companies, as a result of which the failure of the enterprise is felt as their own failure. And the loss of a client or receiving a refusal from an investor can be perceived as a personal rejection.

The boss eats last.I have not yet met an entrepreneur who has a budget article for personal care or who takes a vacation without feeling guilty. In almost every other qualified industry, there is recognition that people have the right to take care of themselves and that a little care of themselves actually leads to a more productive workforce. But investors, entrepreneurs, and poorly trained mid-level managers — they all perpetuate the myth in startup history that the only way to succeed is to inexorably grind oneself to the bone.

Financial risks. In addition to opportunity costs, founders are often left without a salary and invest a significant portion of their personal capital in their business. This creates tremendous financial stress and anxiety, based on a scenario in which a failure in business also leads to personal financial collapse. Some involvement in the business can play a positive role, but the founders are often completely emotionally connected with their business. And in this case, the entrepreneur seems to live all the time under the sword of Damocles, which makes him concentrate on risks, and this only leads to poor results.

Imposter Syndrome.Entrepreneurs often suffer from the feeling that they do not have a place where they are, and that in the end they will be exposed as scammers. This makes them write off any success for good luck, but take all the blame for any problems on themselves. Indeed, 58% of technical workers suffer from impostor syndrome, and I suspect this number is significantly higher among entrepreneurs.

Plank to heaven. It is difficult for entrepreneurs to celebrate small victories, as each victory brings the next, more serious challenge. And experiencing maximum stress now, next time it will only be even greater.

Dependencies.Our industry is flooded with alcohol and other substances that, according to the tacit opinion of society, are a good way to solve all their problems. And very often, for entrepreneurs and managers, alcohol becomes the only way to deal with the transcendental stresses they experience in the enterprise.

I bet even a simple reading of this list made you feel yourself in the shoes of an entrepreneur and realize the whole burden that lay on his shoulders. Fortunately, there are ways to deal with the mental problems of entrepreneurs.

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What can investors and entrepreneurs do to protect their mental health?


Each of us who is at least somehow involved in the topic of startups makes a contribution to the problem of mental health of entrepreneurs. But this should only make us make this contribution positive and here are a few ways to do it.

Destigamization. Investors must make sure that the founders with whom they work know that their mental problems are taken seriously. One way to do this is to take on the so-called investment commitment developed by Erin Frey and Ti Jao at Kip, which involves the creation of a workspace for mental health. Just by making a commitment, we can already show entrepreneurs that it is quite normal to seek help. Even better, if investors, interacting with the founders, speak directly about support on their part, as well as help in finding psychiatric services if necessary.

Stop pretending. Being an investor is not like being a founder, but it is also not easy and investors also have many problems. If investors want to support entrepreneurs, they must be honest and open to them. They must show that it is normal to open up and trust, and normal to have mental problems.

Entrepreneurs should also not reinforce standard myths.When you work on your business for years in an anonymity environment and then make a major breakthrough, make sure that your PR campaign accurately reflects your efforts. You suffered to lead your company to the pinnacle of success, and you had to invest heavily in yourself in order to survive along the way. Make sure that when other founders read about your success, they understand how you actually got there.

Provide resources.People easily forget how serious a financial burden the founders of companies bear. Just because they have earned five million from a recent deal does not necessarily mean that they have personal capital to seek help and support. Part of the financial resources should be reserved for the founders themselves and investors. Investors should also consider entrepreneurs as a direction of investment: in their health and development. Founders should include in their financial statements a line of products for healing or personal care. Budgets are moral documents that determine the priorities of a company. If there is no position to support the mental / physical / emotional well-being of the founders and employees, then the company will be deprived of resources to provide this kind of support. We,participants in this ecosystem should invest in those areas that we are constantly talking about when we declare that we are "friendly to the founders" and "invest in entrepreneurs in the first place."

Do not forget about the connection of the psyche-body. Mental, emotional and physical well-being are all deeply connected to each other. Just as mental health problems often lead to substance abuse, lack of exercise or nutrition can also lead to depressed mood and lack of focus. Entrepreneurs should be sure to incorporate their physical activity of choice into their lives, they should monitor their diet and should consider activities such as yoga, meditation and deliberate breathing, which, as studies show , help to increase mood, focus attention and increase emotional stability.

Communications, communications, communications.Founders must remain tied to the support network. They must join a peer group, chat with old friends, date their soulmate, and make new friends. This is not only a good way to relieve some of the pressure they are experiencing, but also a great reminder that they exist separately from their company.

Managers should take vacations away from work and business. If the founder can not voluntarily disconnect even during the holidays, he should think about joining a community or about how to force himself to fence himself off from everyday troubles. Few people notice a person’s burnout when reading an obituary, however, a trained eye understands its effect.

Create a culture that supports self-care.If everyone, from the secretary to the CEO, is ready to seek help and take care of themselves, this creates a corporate habit that allows everyone to flourish. A healthy culture will pay for itself a thousand times by recruiting staff, reducing staff turnover and happier, more productive people who will be ready to sacrifice themselves for the company when necessary.

Set priorities, not tasks.Type A founders and personalities tend to live and die according to their calendar and task lists. Unfortunately, task lists are simply reminders that there are countless things to do. For most of us, our task lists are literally endless. This is a recipe for unbearable mental stress and uncontrollable cognitive load. The definition of anxiety is when we realize that our ability to achieve is suppressed by the tasks before us, which is inevitable when our tasks are poorly defined, too large, or seem endless. Instead of a task list, switch to a daily priority list that lists only urgent and important items. Completing these points may be more difficult, but deleting them from the list brings much more satisfaction.

Be carefull. Examine the symptoms of depression and burnout. People who drown, do not wave their hands in the air and do not shout for help, they glide silently under the waves, and only trained rescuers tend to notice people in distress. The same thing happens with depression. Depressive people do not mope, and they are not necessarily sad, but rather numb. Here are some things to look out for:

  • Persistent sense of pessimism
  • Sad, anxious, or empty mood
  • Behavioral changes and loss of interest in previously favorite activities
  • Change in diet or meal schedule
  • Change sleep schedule
  • Irritability
  • Inability to make decisions or concentrate

For example, building companies initially involves serious physical and emotional stress, but the culture in which we live adds another dozen factors that only exacerbate the problem. We literally kill ourselves and thereby undermine our long-term competitiveness. Of course, there are actions that each of us can take to overcome this misfortune, but in the end I believe that most of these actions come down to treating each other and to ourselves as human beings. If we recognize and accept our weaknesses and support each other in our imperfections, we will begin to create a healthier and more sustainable business environment.

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(c) Original Investors and entrepreneurs need to address the mental health crisis in startups , translation psychologist, hypnotherapist Gennady Ivanov

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