Sadly, these are more or less the same results as the ones we saw in our mental health deep dive in 2019. Obviously, we, as a VC, are a great part of the pressure startup founders experience, which naturally comes with a great responsibility for us.
We acknowledge the necessity of operating on multiple levels to effect this change. However, initially, we asked Heidi and Mathias from our ‘People and Culture’ team, who have been working on mental health founder circles and leaderspace, the question: What are the most pivotal things founders can do to strengthen their mental resilience for the journey?
It’s not a straight road, but it’s vital. If only a finger snap could make the difference, but this appears to be a fight we must take on ourselves. Sure, it’s hard to devise a “one-size-fits-all” solution, but armed with insights from around 400 journeys, scientific studies, and some good trial and error, we have developed our secret sauce for elevating your mental health as a founder.
First off, nail the basics…
We’re talking sleep, food that isn’t just coffee and snicker bars, some sunlight (not just from your computer screen), and exercise. And no, you don’t need to become a 2024 Arnold or train for the next Ironman. A high-pace walk, dancing, or even a few rounds of shadow boxing can work wonders – do something you think is funny.
Specific Tip: Start small and go big. Consider making it a daily habit, like taking a 10-minute walk three times per week. After three weeks, bump it up, perhaps to a 20-minute walk three times weekly. It’s all about steady progress. For some foundational insights, tune into Dr. Andrew Huberman’s podcast or catch some of his wizardness here and see if you can get hooked.
Get yourself a sidekick…
No top athlete goes alone, right? Whether it’s a coach, psychologist, mentor, or your neighborhood friendly priest, find someone who’s got your back. Someone cheer on you, give you a nudge when you need it, push you to become better and help you navigate the ups and downs. Remember, even Batman had Alfred.
Specific Tip: When seeking your Alfred, whether from a psychologist, coach, or another ally, remember it’s all about that connection to that person – you need to feel connected to get results. Do an initial talk with that person and see if you feel connected. You can start by reaching out to us or Jonas Schøsler – that’s already three Alfreds to choose from/who can guide you in the right direction.
Make it a daily habit…
Incorporate mental well-being into your daily routine and business strategy. No need to turn your company upside down or fasting one week in a row. Simple tweaks like starting meetings with a personal check-in or setting aside time for non-work-related chats can make a world of difference. Maybe implement breathwork everyday as important as that cross on your to-do. By mastering your breathwork you send a signal to the body, that nothing dangerous is around the corner. Think of it as mental health snacks – little bites that add up to something bigger.
Specific Tip: An oldie but goldie technique in breathwork is what we call box breathing. Here’s how it goes: Inhale for 4 seconds, hold for 4, exhale for 4, and hold for 4. Repeat until your heartbeat steadies. Integrate it into your routine or kick off meetings with this practice. And if your eyebrow rise on that, consider the absurdity of potentially burning out.
Don’t do it alone…
Open up about how you’re feeling, especially with your co-founder. Odds are, they’re feeling it too. Build trust by being open and honest, and remember, two heads are better than one, especially when tackling the tough stuff. Maybe invite your co-founder to participate on the mentor/coach check-ins to get that third part to coach you both on your relationship. We know for a fact how important healthy relations are for our mental health – surround you even more with those who loves you and support you.
Specific Tip: If it were up to me, I would do this weekly. But if you think it’s too hard to fit into your calendar, then make it a monthly or quarterly habit to go out and eat with your co-founder. Force yourself NOT to talk about business (unless it’s about psychological safety in your company) but also about how you are doing and feeling.
You are in charge of how the conversation should be. Be open about how you REALLY feel. Even though you are the CEO, it’s okay to feel frustrated, alone, doubtful, good, or overwhelmingly happy.
Put it on the board’s radar…
This might ruffle some feathers, but it’s time for VCs and board members to step up their game. How often do you check in on a founder’s well-being? How much do you care about what’s going on behind the scenes, beyond just the numbers and metrics? Do your remember their birthdays? Do you know how many kids they have or don’t have? Do you REALLY and ACTIVLY listen to them? If the answer is “not enough,” then it’s time to rethink your priorities.
Specific Tip: When you forward the agenda to the board, put your own mental health on the agenda. And BoDs, let it be the first thing you talk about at the board meeting: How’s the CEO doing? How is she/he holding up now? How can you support them in their current state of mind? What is needed for them to be a success?
As the saying goes: You can’t scale your business if you can’t scale yourself. Our mission is to encourage founders to prioritize themselves and their balance. We understand that 5 tips alone won’t do the trick. However, achieving balance is an ongoing task, and we are committed to delving deeper into this topic. Speaking of deep dives, we’ve also explored the role of VCs in improving the mental health of founders and introduced a mental health program back in 2020. After all, balance is a cornerstone of scaling a business – and that’s why we need to blueprint it!
