The Importance of Self-Care for Startup Founders
Starting a business is as thrilling as it is demanding. It’s as rewarding as it is taxing. It requires as much determination as it does resilience.
The excitement of building something from the ground up can be exhilarating, but it’s also a giant learning curve that can take a toll on your mental health. As a startup founder, it's essential to recognize the importance of self-care to ensure both your well-being and the success of your venture.
With a couple of insights from founders in our 2024 Founder Lab cohort, read why self-care is crucial for entrepreneurs and tips on how you can make it a priority on your journey.
Understanding The Entrepreneurial Mindset
Driven by a passion for their ideas and a desire to succeed, entrepreneurs often thrive on challenge and uncertainty, but this can amount to long hours and immense pressure—big culprits of stress and mental health issues.
It’s been reported that 72% of entrepreneurs have a mental health history, in contrast to only 48% of the general population. More to what founders experience:
63% report dealing with burnout
59% say they’ve dealt with anxiety
Top stressors are:
21% financial concerns
16% day-to-day stress
15% work-life balance
12% uncertainty about the future
… Among many others
A founder mindset—one of resilience, determination, grittiness, and a strong work ethic—while beneficial for business growth, can contribute to stress, anxiety, and burnout if not managed properly. Recognizing the intensity of the mindset that's making the magic happen is a necessary step toward integrating self-care into your daily routine.
Mental well-being and mental health are often overlooked when growing and sustaining a business. However, prioritizing your mental well-being is just as important as managing daily operations.
Making Mental Health a Priority as a Founder
Prioritizing mental health as a founder requires a proactive approach—you don’t find time, you make time. Here are some strategies that can help:
Set Boundaries
Always “on” isn’t sustainable. One of the most effective ways to protect your mental health is to set clear boundaries between work and personal time. Easier said than done in a startup environment where the lines often blur, but it's vital to designate specific times for work and relaxation.
Schedule Downtime
Just as you schedule meetings and deadlines, it's important to schedule downtime (your calendar is queen!). Whether it's a daily walk, reading a book, or spending time with family, ensuring you have regular breaks helps prevent burnout.
Seek Support
Don't be afraid to seek support from mentors, peers, or professionals like a therapist or counselor. Having someone to talk to about the stresses and challenges you're facing can provide relief and perspective.
Prioritize Physical Health
Physical activity is a great way to reduce stress and improve your overall mental health. Whether it’s group workouts that foster community or yoga to clear your mind, your brain and body will thank you. Regular exercise, maintaining a balanced diet, and getting enough sleep are essential for protecting your mental well-being.
Founder Advice
“Unfortunately, I don't do a good job of that. However, some techniques I use when things get out of whack include talking to friends, watching movies or shows that I've found comforting, getting outside and gardening, baking, reading and finding a way to be creative. My husband is also a great resource for a reality check when he sees me getting burned out.”
— Elizabeth Plouffe, Spero Careers Canada
“Having a consistent practice in the mornings and recognizing my personal work rhythm.”
— Celeste Trujillo, The Better Butchers
Self-Care is a Spectrum for Busy Entrepreneurs
Self-care is personal and varies from one founder to another. Practicing self-care might look like:
Mindfulness and Meditation
Think: get quiet to live loud. Practices like mindfulness and meditation can help you stay grounded and focused. There are proven benefits to controlled and mindful breathing, including reducing stress levels.
Healthy Eating
As we mentioned, self-care is as much about mental well-being as it is about the physical. Eating a nutritious and balanced meal and staying hydrated fuels you with increased energy, improves mood, reduces stress levels, and increases cognitive functioning, making you more productive.
Sleep Hygiene
To burn the candle at both ends ultimately doesn’t help anyone. Long days and late nights might help you get more done, but at what cost? Sleep deprivation impairs decision-making skills and stunts creativity. Aim to set a regular sleep schedule and create a restful environment to get better sleep for a clearer mind in the morning (or post-power nap).
Hobbies and Interests
Engage in activities that bring you joy and relaxation. Whether it's painting, playing an instrument, or gardening, having a hobby outside of work can be a great way to unwind.
Founder Advice
“Self care involves something creative, reading fantasy fiction, and getting outside.”
— Elizabeth Plouffe, Spero Careers Canada
“Finding space and time to ground and go back to self, finding tools and practices to check in with myself and care for my body in health and beauty.”
— Celeste Trujillo, The Better Butchers
Building a Healthy Startup Culture
A healthy founder makes for a healthy startup. But also remember: you are not your business.
You and your business are separate entities, and (once again, easier said than done) this means taking inventory of the things you value most in life and ensuring that they are happening in your personal life that exists outside of your business. Having a life outside your venture can feel impossible, but it’s necessary.
Prioritizing your mental health as a founder makes you better able to cultivate a positive culture within your startup. If you’ve grown your team, it’s your responsibility as a leader to encourage your team to prioritize their well-being and lead by example. A healthy work environment is a win for everyone and can lead to increased productivity and creativity.
Founder Advice
“It's important to build your knowledge around what leadership looks like, connecting with other founders for a reality check, and keeping track of wins so when you have a slump, you're reminded of what you've accomplished.”
— Elizabeth Plouffe, Spero Careers Canada
“Little is talked about regarding the influence of the executive's mental health on an organization and the personal lives of those who work under their leadership. Many founders never went through the corporate ladder to have empathy or the executives are detached from the day to day and from any personal development practice and that influences everyone's mental state and it's more than just productivity but about the responsibility of being a leader.”
— Celeste Trujillo, The Better Butchers
Taking care of your mental health is not a sign of weakness; it's an essential piece of being a successful founder and building a sustainable venture. In the high-stakes world of startups, maintaining a healthy mind can be your greatest asset.
Taking care of your mental health is not a sign of weakness; it's an essential piece of being a successful founder and building a sustainable venture. In the high-stakes world of startups, maintaining a healthy mind can be your greatest asset.
Above all: self-compassion is key as a founder.
Considering roughly 20% of startups fail in their first year and around 60% will fail within their first three years (and as a woman, scaling a startup is an incredibly tough task as less than 2% of female founders ever make a million dollars in revenue), you’re going against the odds from day 1.
The startup journey is demanding, but prioritizing self-care and mental health helps you navigate the challenges more effectively. So, remember to take care of yourself, show yourself grace, and celebrate the small wins as much as the big ones.
Good luck!
