Preview Mode Links will not work in preview mode

ProfitLayer with Timothy Dick - Business building explored layer by layer.

Jun 5, 2019

“Mindset and mental health are key layers in business. If your mind isn’t in the right place, and you’re not able to work through the issues that come up, it’s going to affect your business.”

Timothy Dick (3:15-3:45)

Mental health challenges can range from mild bouts of stress to crippling anxiety or depression. These and other mental health challenges affect people from all walks of life, educational backgrounds, and levels of success.

“No matter how successful the business is, you can still run into issues if you don’t watch out for the signs of burnout.” - Timothy Dick (6:02-6:38)

A growing number of entrepreneurs are opening up about the struggles they've had related to mental health. No matter how successful their businesses may be or how many resources they have available, they suffer the same problems everyone else faces. That's why it's important to look out for signs of burnout or destructive thinking.

Getting Help With the Ups and Downs of Business

There's a belief that if you're not "grinding" and "hustling" 24 hours a day and giving 150% then you're not doing it right. But this belief is just plain wrong, and entrepreneurs are becoming more aware of their own mental wellbeing and the need to care for others around them.

Entrepreneurs don't always take advantage of the support they have available to them. It can be lonely at the top, and if you're struggling with burnout, depression, anxiety, ADHD, or substance abuse, then you need to get help. The people in your life will respect the fact that you're getting the help you need.

“Anyone handling many things will deal with mental fatigue and use a lot of mental and cognitive energy. It’s okay to get help.”

- Timothy Dick (40:40-41:08)

Entrepreneurs at Risk for Mental Health Challenges

Entrepreneurs face unique pressures that can contribute to mental health challenges. Stress levels are high, and business owners can struggle to unplug and disconnect from work when they should.

It's estimated that 72% of entrepreneurs are affected by mental health issues. National health statistics show that these individuals are:

  • 2x more likely to have depression
  • 6x more likely to have ADHD
  • 3x more likely to struggle with substance abuse
  • 10x more likely to have bipolar disorder
  • 2x more likely have some psychiatric hospitalization in their lifetime
  • 2x more likely to have suicidal thoughts in their lifetime

Today’s entrepreneurs are managing information and people, planning business strategies, and other cognitive-heavy mental labor. The physical health risks of the past may be lower, but new mental health risks are on the rise.

Giving Yourself and Others Mental Health Support

Mental health awareness can lead to a healthy environment at work and at home. Reach out to a mental health professional if you think it can be helpful. Some mental health challenges can be easily addressed, but others may require more extensive support.

The following are some valuable resources that can help entrepreneurs overcome and prevent mental health challenges:

Everyone gets overwhelmed in business. But surrounding yourself with the right people and resources will support your goals and position you for lasting success in everything you do.

How to get involved
If you would like more information about Timothy Dick, and the success businesses have gained through work with him, please visit his website.

If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!