TRC 046: Founder stress - Why a little planning can go a long way

Read time: 5 mins

Being a founder means having to be the swan - appearing graceful on the surface whilst often paddling furiously below the water in order to keep up.

Hiding how we actually feel from the team, investors and even our loved ones can seem like par for the course.

Stress is just part of the journey and we should just tough it out right? We don’t want to worry people.

Whilst there are always going to be ups and downs in any startup journey, I strongly believe that a trouble shared leads to a reduction in stress and a more sustainable journey for founders.

Reading the the latest Startup Snapshot report reveals that far too many founders struggle with stress and mental health challenges.

What the report tells us:

1. Stress is a Universal Challenge
   • 72% of founders report significant mental health impacts, with stress, anxiety, and burnout being common.
   • Over 80% of founders admit they are not open about their challenges.
2. Isolation is a Hidden Barrier
   • Founders struggle to share their stresses, even with cofounders or investors. Only 10% turn to investors for support.
3. Health and Relationships Take a Backseat
   • 73% of founders spend less time with friends and family after starting their venture.
   • Physical health often suffers, with many founders reducing exercise and sleep as their businesses grow.
4. Fear of Failure is Pervasive
   • 42% of founders identify fear of failure as a top stressor, which can paralyse decision-making and risk-taking.
5. Support Systems Are Lacking
   • Despite the benefits, only 23% of founders engage with psychologists or coaches, often due to stigma or time constraints.

What You Can Do About It:

1. Normalise Mental Health Conversations
   • Join founder communities where open discussions about mental health are encouraged. Peer support can be transformative. Nobody can understand what you are going through as much as another startup founder.
2. Invest in Your Physical and Emotional Health
   • Regular exercise and mindfulness practices can significantly reduce stress. Start small: a daily 20-minute walk can work wonders.
3. Set Boundaries
   • Protect time for personal relationships and hobbies. They provide perspective and energy. It can feel counter-intuitive when there is so much to do, but this additional perspective will often help you make better decisions.
4. Embrace a Longer-Term Perspective
   • Practice resilience by reframing failures as learning opportunities. Mindfulness exercises like “what’s the worst that can happen?” can help mitigate fear. It can sound overly simplistic, but have real benefits.
5. Foster Open Communication
   • Build trust with cofounders, investors, and your team. Transparency about challenges can lead to collaborative problem-solving and stronger relationships. Trying to tough it out and always be in ‘sales’ mode doesn’t allow the help you need to come your way.

Every startup journey is unique, and so are the challenges.

Building a robust support system of peers, trusted advisors and investors before you actually need them is one the best things you can do to prepare for the challenges ahead.

You can enhance not only your well-being but also the long-term success of your startup.

A bit like oxygen masks on planes, you have to take care of yourself before you can take of your business and your team.

Whenever you're ready...

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