Overcoming Mental Health Issues for Entrepreneurs

Hey, everyone, this is Mike Andes and you're listening to the Business Bootcamp podcast. Today we're going to be talking about an uncomfortable topic that most people try to push aside but has to be addressed. I've talked about it in the past lightly. Today we're going to talk a little bit deeper and we're going to be talking about depression and suicide in the entrepreneurial community. Before we get in today's show though, a big thank you. Today's sponsor, which is Gusto. If you haven't already, go to gusto.com.

And see the cheapest and most user friendly experience of submitting payroll ever. Not only is it the cheapest, at $6 per month per employee, it's going to be super easy for you to submit payroll, submit the hours, and it does the rest for you. So go check it out. Today go to Gusto.com Bootcamp and get a free 90 day trial of their software. So today we're going to be talking about overcoming entrepreneurial depression. And this is something that I've mentioned before briefly on the podcast several times, and I do feel that like, one day I'll probably write a book on it, but not in the near future. I'd say probably the next three to five years. It's something that I, you know, the fine print to all of this is I'm not a depressive type of person. I'm pretty moody, but I'm never depressive. I'm never really like suicidal or anything like that. However, I've been with a lot of entrepreneurs and that's really who I'm focusing on today. Like a lot of these things we're gonna talk about today could be taken for anyone that is going through depression or suicidal. But speaking specifically today to my audience here on Business Bootcamp Podcast, I'm thinking more in terms of an entrepreneur and the things that they're going through. And so.

It'S a real thing. And I think one of the first things is to realize that a lot of people go through it, even as entrepreneurs. The level and the percentage and rates of suicide in the entrepreneurial community is pretty high, simply due to the amount of stress. All the different factors that we've talked about here on the podcast before, that adds to the anxiety, adds to the pressure of living by simply owning a business, especially a small business, where there is certain levels of risk, there are certain levels of competitors moving in and wiping you out. The Internet changes, everything changes in the economy and things. There's a lot of change and risk in being a small business owner. And so because of that, because your livelihood as a small business owner depends on it. Your family depends on it. You know that small business puts food on the table for you, your employees and their families. There's a lot of pressure that can be put on the shoulders of the small business owner. And so sometimes the reason someone will get depressed as an entrepreneur, as a business owner, is.

As an employee, you see a very symmetrical parallel line between how hard you work and the amount of effort and time you put in and their paycheck. And so from a financial standpoint, it can cause a lot of stress being a small business owner, because you work longer hours, you put more and more effort in. You might even sacrifice more and more money, sacrifice more and more family time, sacrifice, maybe even your health. And there is no direct correlation, seemingly at the start, that the more you put in, the more you get back. As an hourly wage employee, you get paid. The more you work, the more you make. And when you hit 40 hours or more a week, you make one and a half times your hourly rate. So the more and more you work, the more and more you make. And traditionally, as an employee, if you continue to work hard and invest more time and energy and skill into your labor, you're gonna get a higher wage per hour. And so you're going to make.