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So you have stumbled on a great idea that can make you a lot of money, now it’s time to ask yourself, “Am I ready to start a business?”
When you build a company from the ground up, a lot of people usually consider capital and business framework first. Some people look for a person to partner with and yet some go ahead and manage the business on their own. These are all to be expected. Here we want to emphasize something that a lot of startup entrepreneurs might have taken for granted in the past: our mental health.
Is my mental health really important in starting a business?
In a research reported by The Wall Street Journal, Shikhar Ghosh, a Harvard Business School lecturer, found out that an astounding 3 out of 4 startups funded by venture capital fail. Businesses usually start with an idea and these ideas are usually borne of one person. But not all individuals are successfully able to execute these ideas into lucrative money-making trades and this may be the culprit: they were not mentally prepared to sell their product.
The World Health Organization defines health as “a state of complete physical, mental and social well-being and not merely the absence of disease or infirmity.” Businesses entail a lot of stress and emotional capital especially during the beginning. Anyone who is not yet psychologically ready for this adventure might be dooming themselves to failure.
It is vital to consider the state of your well-being before you rush into any endeavor head-on.
How do I find out if I am not mentally and emotionally prepared?
It might be easy to feel the adrenaline rush after you come up with your brainchild. Once you have become comfortable with the plan of setting up the business, however, you might encounter some mental block. Maybe thinking about the product causes you to sleep less at night and drawing up plans swing your moods out of control. Maybe you have become so busy that you simply keep forgetting to eat.
These are encountered by all entrepreneurs at some point, but these are also possible warning signs that you might need to take a step back to assess the state of your mental health.
What do I do when I get a mental block?
A lot of people might not realize it but what we take into our bodies can also affect our psychological capacity. Research has shown that our gut has a great impact on our brain’s performance.
Entrepreneurship is like a lot of most jobs. You need time management and a good relationship with the people and things that relate to your work. To make sure of this, you must maintain healthy sleeping habits so that you can keep your mind in focus when you need it the most. You also have to see to it that you are eating good food on time.
Whatever the case, remember that it is okay to ask for help. Taking good care of yourself is also important if you want your business to succeed.
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