72% of entrepreneurs struggle with stress & anxiety.
It doesn't have to be this bad.
7 tactics for optimizing mental health as an entrepreneur: 🧵
It doesn't have to be this bad.
7 tactics for optimizing mental health as an entrepreneur: 🧵
Entrepreneurs experience these feelings 50% more than the general public.
And despite positive trends in awareness, I rarely see actionable advice.
A combination of self care, companionship & business principles work like magic.
Let's dive in...
And despite positive trends in awareness, I rarely see actionable advice.
A combination of self care, companionship & business principles work like magic.
Let's dive in...
1. PAY YOURSELF FIRST
My first year in biz I paid myself $10,000 and justified it by claiming I was "re-investing."
There's always something to invest in -- your/your family's comfort should come first.
Without it, it's near impossible to stay the course long term.
My first year in biz I paid myself $10,000 and justified it by claiming I was "re-investing."
There's always something to invest in -- your/your family's comfort should come first.
Without it, it's near impossible to stay the course long term.
In hindsight, it was a form of self-torture that made me miserable & stressed.
The reality is we need money to live fruitful lives...
So if you need the income, make it a priority.
The reality is we need money to live fruitful lives...
So if you need the income, make it a priority.
2. CASH IN THE BANK
Worrying about payroll & unexpected expenses shifts focus off of core initiatives.
Lower focus causes poor results & more stress -- this vicious cycle is a function of poor cash management.
Learn more here:
Worrying about payroll & unexpected expenses shifts focus off of core initiatives.
Lower focus causes poor results & more stress -- this vicious cycle is a function of poor cash management.
Learn more here:
https://twitter.com/barrettjoneill/status/1487451447641870346
Industry leaders have 3x more cash on hand compared to peers.
With surplus cash, we afford the right to think long term.
Long term thinkers craft a vision & bring it to life.
Small daily progress toward big goals is an antidote to stress & anxiety.
With surplus cash, we afford the right to think long term.
Long term thinkers craft a vision & bring it to life.
Small daily progress toward big goals is an antidote to stress & anxiety.
3. GOOD DEBT ONLY
Debt is the invisible prison that kills cash flow, forcing you to service non-ideal customers to make payments.
Bad customers ruin efficiencies, make employees unhappy & drive up costs.
Stress-free business is rooted in flexibility.
Debt is the invisible prison that kills cash flow, forcing you to service non-ideal customers to make payments.
Bad customers ruin efficiencies, make employees unhappy & drive up costs.
Stress-free business is rooted in flexibility.
Debt should be used to amplify a proven strategy.
It's never used to test new ideas or fund new initiatives without strong supporting data.
Debt is a slippery slope that has destroyed the mental & financial health of many.
Proceed cautiously.
It's never used to test new ideas or fund new initiatives without strong supporting data.
Debt is a slippery slope that has destroyed the mental & financial health of many.
Proceed cautiously.
4. OPERATING AGREEMENT
In the beginning it's optimism & adrenaline.
Over the years, circumstances change & people need to move on -- it's natural.
Reduce the stress of the unknown by having a clear breakup agreement.
You'll save time, money & valuable relationships.
In the beginning it's optimism & adrenaline.
Over the years, circumstances change & people need to move on -- it's natural.
Reduce the stress of the unknown by having a clear breakup agreement.
You'll save time, money & valuable relationships.
5. THERAPY/COACHING
Speaking (honestly) to an unbiased 3rd party will change your life -- in the best way.
A close friend who owns a $5M ecom brand raved about Wendy, his therapist, and her ability to deconstruct his doubts.
Intrigued, I decided to go.
Speaking (honestly) to an unbiased 3rd party will change your life -- in the best way.
A close friend who owns a $5M ecom brand raved about Wendy, his therapist, and her ability to deconstruct his doubts.
Intrigued, I decided to go.
After 4 sessions she helped me work through my fears by realizing...
They weren't founded in logic.
She helped me craft the narrative I wanted to tell myself -- and it worked.
After 4 sessions in 2019, I 10x'd my income in 2020.
They weren't founded in logic.
She helped me craft the narrative I wanted to tell myself -- and it worked.
After 4 sessions in 2019, I 10x'd my income in 2020.
6. NOT DWELLING ON LOSSES
Mistakes will happen. Reduce stress by:
1. Avoiding compounding (making it worse)
2. Learning a skill (prevent in the future)
3. Taking action (change circumstance)
The best can turn losses into wins.
The playbook: ⬇️
Mistakes will happen. Reduce stress by:
1. Avoiding compounding (making it worse)
2. Learning a skill (prevent in the future)
3. Taking action (change circumstance)
The best can turn losses into wins.
The playbook: ⬇️
https://twitter.com/barrettjoneill/status/1481628651921707011
Study history, sports, or politics and you'll notice clear parallels to business.
Massive wins come in the wake of loss.
Don't waste a good loss feeling sorry for yourself. Get to work and feel anxiety melt away.
Massive wins come in the wake of loss.
Don't waste a good loss feeling sorry for yourself. Get to work and feel anxiety melt away.
7. FOXHOLE FRIENDS
Find a group of friends going through the battle with you.
Humans are tribal creatures -- we crave companionship.
You'll quickly realize others have the same stresses & anxieties.
The realization we aren't alone helps us stay in a great headspace.
Find a group of friends going through the battle with you.
Humans are tribal creatures -- we crave companionship.
You'll quickly realize others have the same stresses & anxieties.
The realization we aren't alone helps us stay in a great headspace.
How do you find foxhole friends?
For me, writing online has been the most effective method.
Put yourself out there, you'll be pleasantly surprised by what comes back.
For me, writing online has been the most effective method.
Put yourself out there, you'll be pleasantly surprised by what comes back.
8. BONUS: Diet & Exercise
The data is irrefutable - a healthy diet & exercise chemically destroy stress.
Personally, I frame exercise as an activity for my mind.
It's no longer about vanity, but rather performance, and gets me working out 5x per week.
Whatever works!
The data is irrefutable - a healthy diet & exercise chemically destroy stress.
Personally, I frame exercise as an activity for my mind.
It's no longer about vanity, but rather performance, and gets me working out 5x per week.
Whatever works!
As an entrepreneur:
- finances
- relationships
- reputation
are all being pushed to the limit simultaneously -- it's no secret why 72% of us feel this way.
Ironically, with more success these feelings can get worse, so start destroying them today.
- finances
- relationships
- reputation
are all being pushed to the limit simultaneously -- it's no secret why 72% of us feel this way.
Ironically, with more success these feelings can get worse, so start destroying them today.
To maintain your mental health, use these tactics (and add your own) and prioritize:
-self care
-companionship
-business principles
I'm curious -- how you would customize this list?
Comment below: ⬇️ ⬇️ ⬇️
-self care
-companionship
-business principles
I'm curious -- how you would customize this list?
Comment below: ⬇️ ⬇️ ⬇️
Follow me @barrettjoneill for content on business, growth & building companies.
If you found this helpful -- please RT the 1st tweet, so others can benefit.
If you found this helpful -- please RT the 1st tweet, so others can benefit.
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