At this year’s Start up Festival a very important panel discussion was held called “Mind the Grind” which focused on mental health within a company. Moderator Mark Azzopardi-, Founder of Working Town, together with panellists Iusef Abdel Haftih (Project Manager at Supercharger Ventures), Kieth Azzopardi (Founder of Smart Materials), and Rosianne Camilleri (CEO of National Mental Health Services), covered key topics when starting your entrepreneurship journey. The discussion covered a basis of topics including the perception of free time, seeking help, and mental health relating to the functioning of a business. These panellists are experts in their fields and offered their insight on why mental health matters.
Founders Commitment
It is assumed that becoming an entrepreneur allows for more flexibility however they find themselves facing more challenges at work. The choice of taking time off is available on the other hand, it can badly impact the success of the company. As a founder you encounter different perspectives, you may find a culture where it is praised to work long hours even if it is mentally exhausting and not very productive. One must keep in mind that the founder runs the company, if they are feeling too stressed or down, they will bring the company down too. Investors impact the way the company runs, their perception is that the founder has to be working constantly.
Entrepreneurial conditions
Deciding to become an entrepreneur is a tough decision. The first step towards this choice is discussing it with close family and friends which carries a lot of stress in a positive way. There is no certainty that your vision will work, there is fear behind the stress. As a founder you are deciding to leave your comfort zone thus you create stress. It is valuable that one takes time to think about mindfulness and how to be serene when approaching each hurdle. When the owner can not face certain challenges, they must seek help from a professional or a discussion group. This way one creates a support system where they are able to minimise the problem. Often founders are reluctant to seek professional help because they are the risk takers and they must prove that they are capable of working on their own.
Mental health relates to the business. If a founder has psychological help, they are more likely to succeed.
The impact on Business
Startup expert Iusef Abdel Haftih deals with 20-30 companies each year, and with each client it is necessary to talk about their mental well being impacting their business. Statistics show that 8% of founders close down due to burn out and mental health complications. This has an impact of around €5 billion. If a founder is able to receive treatment they are more likely to grow their company. Investors should recognize the importance of the founder’s mental health.
Growing the Company
Kieth Azzopardi talks about how a company is hard to maintain. Azzopardi said that you have to have enough financing to cover for other people’s lives, then your decisions determine whether they will flourish or not. The early employees of a venture experience a lot of the burden of the founders, as they take on the stress and responsibilities based on the founders vision. When there is pressure on the founder it is best to open up. This is because an employee is more prone to be in a high risk situation because of the founders dream, thus one should open up to their employees to minimise the pressure.
Speed without accuracy, is time wasted.
Hustle Culture
It is important to break the hustle culture. This is good for certain phases at a certain time, however it is not long term. Pushing yourself all the time will make you feel bad for taking time off and you won’t be fully focused on your company. American culture makes us think you have to work on your start-up for 18 hours otherwise you won’t succeed. One may enjoy working over hours, however it shouldn’t be forced. At the Start Up Festival Rosianne Camilleri discussed work life balance must be suited to the individual personally. A company is after the same goal, if targets are met and the work is put in it doesn’t matter at what time you work. Camilleri highlights the fact that mental health is not a weakness, it is important to recognise the limitation and seek help. With today’s technology it is flexible to work from anywhere at any time.
Prevention is better than cure.
The Panellists’ Advice
Your mental health matters. Acknowledging your issues with mental health is a sign of strength and seeking the support when needed can really help your company’s outcome. It is best to start before burn out, picking up hobbies creates healthy patterns. Challenges are a sign of blessing, people don’t have the luxury of facing problems each day, most individuals have a repetitive and monotonous day, so learn to appreciate the little things in your journey.
