Why Entrepreneurs Need to Get More Therapy

Starting, running, and building your own business can be a rewarding experience, but it comes with specific challenges. According to a 2020 survey, entrepreneurs report significantly higher rates of worry and stress compared to other types of workers.

Entrepreneurship can be relentless, isolating, and overwhelming. From finding the best investors to building a strong team, wearing multiple hats can take a serious toll on your mental health. In many cases, entrepreneurs face an uncertain future dependent on factors beyond their control, which can lead to helplessness, anxiety, and other mental health issues. Whether you’re a seasoned entrepreneur or thinking about starting your own business, here’s how psychotherapy can help.

What mental health challenges do entrepreneurs face?

In recent years, more people have started to pay attention to mental health problems in startup culture. In a 2015 manuscript, Dr. Michael Freeman highlighted research suggesting that 49 percent of founders experience symptoms of mental health conditions.

Moreover, research shows that stress, fatigue, isolation, and the fear of failure are highly correlated with entrepreneurship. Many small business owners work endlessly, sacrificing their sleep and self-care. Entrepreneurs constantly make sacrifices, blurring the lines between their professional and personal lives and hoping that their hard work will pay off. Unfortunately, with business owners facing incredible pressure to succeed, entrepreneurs are discouraged from showing weakness.

How can psychotherapy help entrepreneurs?

Psychotherapy and counseling can provide a safe space for entrepreneurs to discuss their fears, stressors, and uncertainties without judgment. Your psychotherapist is not an investor, business partner, or employee. Instead, they’re an objective third party that can provide valuable insight into your mental health challenges.

Some key benefits of counseling for entrepreneurs include the following:

• Setting healthy boundaries. Healthy boundaries are critical to your success, happiness, and productivity as a business owner. Instead of constantly saying “yes” to new business opportunities or board members, you can avoid unnecessary stress and create more time for yourself. Psychotherapy can help you improve your communication skills, learn different ways to set boundaries and foster more positive behaviors.
• Reducing procrastination. Procrastination is one of the most common symptoms of perfectionism. If you’re constantly thinking of new ideas but pushing them aside for a later date, you might be experiencing the symptoms of perfectionism. Working with a psychologist can help you reach the root of this issue, minimize disruptions, and find effective ways to reduce procrastination.
• Preventing burnout. Chances are, if you’re constantly working late nights and forgetting to take days off, you’re not getting enough deep sleep or prioritizing your self-care. If you feel like you have a never-ending “to-do” list, a counselor can help you create realistic expectations and set achievable goals to maintain a healthy work-life balance.
• Remaining flexible. Running your own business presents specific challenges and obstacles that you can’t always plan. These obstacles can lead to anxiety, panic, and stress when you realize that things aren’t going according to plan. Working with a licensed therapist can help you find better ways to cope with the unexpected, so you can remain flexible in your goals and grow your business.

Some common types of therapy for entrepreneurs include cognitive behavioral therapy (CBT), interpersonal therapy (IPT), and psychodynamic psychotherapy. Your therapy sessions will vary depending on your therapist’s approach and your specific mental health concerns. Along with individual psychotherapy, many psychotherapists also offer couples counseling, family therapy, and group counseling.

Professional, Data-Driven Therapy for Entrepreneurs

Even if you’re not experiencing any specific mental health conditions or serious problems, mental health counseling can be a useful tool to improve your communication skills, reduce stress, and set healthy boundaries. According to the American Psychological Association (APA), the therapeutic relationship—the relationship between you and your psychotherapist—can have long-lasting impacts on your mental health outcomes. Before scheduling your first appointment, it’s important to consider your preferences so you can find the best therapy for you.

If you’re searching for a more flexible option, consider trying online therapy. With online therapy, you can access mental health care from the comfort of your own home without worrying about office visits. Plus, if you have a hectic schedule, online counseling usually offers early morning and evening appointments. 

To find the right therapist, reach out to a mental health professional through The Therapy Group of NYC. We know that reaching out for professional help can feel intimidating, and our compassionate, experienced psychotherapists are here to help you feel your best. One of our licensed psychotherapists will help you establish the right treatment plan, develop healthy coping skills, and live a productive, fulfilling life.