Mental fitness for founders is becoming an increasingly hot topic. It’s not something many founders necessarily think about every day. But it should be. There’s a correlation between a founder’s mental fitness and start-up or scale-up success.[1] Yet, burnout, a stress-related and potentially debilitating phenomenon, is all too common among founders [2] — more common than you may realise. So, we’re exploring what mental fitness is, and why it’s especially important for founders. Then we’ll unpack how, as a founder, you can build and maintain your mental fitness regardless of the headwinds and challenges you may face.
What is mental fitness?
Mental fitness is similar to physical fitness. But instead of running or lifting weights to build up your body’s strength and endurance, mental fitness involves training for your mind. By enhancing your awareness of how you think, feel and behave, you can gain increased command and control over what you say and do. Once you reach and maintain a sufficient level of mental fitness, you will enter a state of wellbeing that will enable you to navigate life’s trials and tribulations with aplomb. This new state of being will allow you to thrive in your personal life and in the business world.[3]
Why is mental fitness important for founders?
Competitive sportspeople need to be in peak physical condition to reach the top of their game. Arguably, founders are the elite athletes of the business world. While mental and emotional fitness is essential for everyone, it’s crucial for founders. Elon Musk doesn’t sugarcoat the founder’s journey and strikes a chord when he says, “Starting a company is like eating glass and staring into the abyss.”
Day in and day out founders must push their mental abilities and emotional skills to the limit to ensure they perform at the highest possible level and keep their ventures on track. If founders lose a step, it will show up in their start-up or scale-up fast. The key takeaway here is that continually working on emotional fitness and wellbeing comes with the territory of being a founder.[4]
Challenges today’s founders face
If being a founder wasn’t tough enough at the best of times, right now isn’t the greatest moment in history to be one. There’s no easy way to say it — 2023 hasn’t been a great year for founders. The cost of debt financing and equity capital have escalated this year, and the latter has become harder than ever to obtain. The upshot is that start-ups and scale-ups that succeed are having to exchange a bigger share of their business for less capital. If that wasn’t enough, war in Europe and the Middle East, and the rapidly growing threat of climate change are creating uncertainty and ramping up the cost of doing business. Building a business is a tough gig, filled with hard decisions. So let’s consider how founders can help themselves navigate the start-up journey in today’s challenging times.
How founders can build and maintain mental fitness
Having a high level of mental fitness helps founders get the job done. So, what steps can founders take to grow their mental fitness?
Research by clinical psychologist and emotional fitness expert Dr Emily Anhalt has revealed that founders need to cultivate seven traits to become mentally and emotionally fit.[5]
1. Self-awareness
Self-awareness is number one on Dr Anhalt’s list because it’s the hardest of the founder traits to cultivate, and it’s foundational to the other six elements of emotional and mental fitness. Self-reflective leaders have the greatest propensity for high mental fitness. Self-aware founders are highly resilient and patient, know their triggers and biases, and are not afraid to be vulnerable with others. Boost your powers of self-awareness by being accountable before you ask others to change. And engage a business coach to support you on your founder journey.
2. Empathy
Emotionally fit leaders can (and do) walk in another person’s shoes. They consider the viewpoints of others even in the most challenging of circumstances. Boost your powers of empathy by tapping into how your team is feeling. And don’t forget empathy includes self-empathy, so be sure to maintain healthy boundaries and take time out to recharge your emotional battery regularly.
3. Willingness to play
Being playful and spontaneous unleashes creativity and innovation — outcomes founders need to succeed. Crucially, playfulness boosts emotional wellbeing and the social cohesiveness of teams. Boost your playfulness as a founder by introducing some levity to your team. It will break down barriers and melt tensions bubbling under the surface.
4. Curiosity
Every entrepreneur is driven to a greater or lesser extent by curiosity. Founders with good mental fitness are innately curious. They can see and embrace different perspectives and solutions. Boost your capacity for curiosity by seeking feedback and listening actively.
5. Mindfulness
Founders display mindfulness when they’re ready and willing to tolerate uncomfortable situations to reach the optimal outcomes for their ventures. Boost your powers of mindfulness by focusing on self-care and your immediate priorities, and check yourself if you begin worrying about scenarios that may never happen.
6. Resilience
Being resilient centres on being able to bounce back quickly, receive negative feedback and learn from it. So if, as a founder, your willingness to learn and grow outweighs your desire to avoid failure or criticism, then you’re displaying resilience. This power of adaptability is an essential ingredient for start-up success. You can boost your capacity for resilience by reminding yourself that you and your team are capable, and the work you’re doing is important.
7. Effective communication
The ability to communicate effectively and proactively so that you express your vision, expectations and boundaries is integral to mental fitness. Seeking feedback and practising empathy are two great ways to boost your communication skills as a founder.
Reaping the rewards
Upping your mental fitness will benefit you as a founder, and those around you, including your team, stakeholders, family and friends. The benefits of high mental fitness are manifold and include everything from improved sleep, being more mindful and present around others to feeling more optimistic and confident, and being less reactive and better able to respond effectively to situations. Other upsides include improved cognitive ability, such as improved memory and a greater capacity to focus and process information.[6] So during the festive break, why not invest in yourself and work on your mental fitness? It could make all the difference to how your business fares in 2024.
[1] www.linkedin.com. (Kewal Parmar). 2023. The Crucial Link Between Mental Health and Entrepreneurial Success. [ONLINE] Available at: https://www.linkedin.com/pulse/crucial-link-between-mental-health-entrepreneurial-success-parmar
[2] aqil. 2022. Founders Burnout: Why You Should Care, and 6 Tips on Combating It – Sleek. [ONLINE] Available at: https://sleek.com/sg/resources/founders-burnout/.
[3] www.betterup.com. (Jenna Sinclair.).2021. What is mental fitness? A how-to for exercising your brain. [ONLINE] Available at: https://www.betterup.com/blog/what-does-it-mean-to-be-mentally-fit.
[4] www.beondeck.com. (Dr Emily Anhalt). Healthy Leaders, Healthy Returns: Emotional Fitness for Founders. [online] Available at: https://www.beondeck.com/post/emotional-fitness-for-founders
[5] review.firstround.com. (n.d.). Hit the Emotional Gym — The Founder’s Framework for Emotional Fitness. [online] Available at: https://review.firstround.com/hit-the-emotional-gym-the-founders-framework-for-emotional-fitness#
[6] www.betterup.com. (Jenna Sinclair.).2021. What is mental fitness? A how-to for exercising your brain. [ONLINE] Available at: https://www.betterup.com/blog/what-does-it-mean-to-be-mentally-fit.