Entrepreneurship is often seen as the pathway to autonomy, innovation, and financial success. However, like most things that involve high risk/high reward, one rarely looks at the underbelly of entrepreneurship. The pressures of starting, managing, and scaling a business can be overwhelming, and many founders struggle with emotional challenges. Research shows that in comparison to the general population, founders are more likely to experience stress, anxiety, and depression. According to the Emotional Wellness Platform YourDOST, 33 percent of Indian startup founders are struggling with low well-being. In a survey titled “Emotional Wellbeing of Entrepreneurs 2024”, it was revealed that “imposter syndrome” affects 31 percent of entrepreneurs, with early-stage founders reporting significantly higher levels. However, 74 percent of experienced entrepreneurs (6+ years) report high wellness, compared to just 57 percent of early-stage founders.
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According to Harshit Agarwal, Co-founder of Appknox, “There was a phase when my wife and I were fighting constantly, and I was also under immense pressure at work. There was just so much uncertainty ahead. I had no idea what the future held for me and I started experiencing anxiety. Not only did my sessions with my coach resume. I also made it a point to make sure that my wife also ended up taking sessions with her. The difference it made was very stark. I noticed that after we both spoke to them, there would be a positive change in our interactions too. At a professional level, speaking with my coach I felt reassured. I would realize that things were going to be ok, that we were actually doing fine given the circumstances. I also became aware of how I could control certain parameters to make things better.”
According to the survey, women entrepreneurs demonstrate a notably stronger emotional well-being profile, with 68 percent reporting high well-being as compared to 55 percent of men; and 24 percent reporting low everyday wellness as compared to 27 percent of men reporting low everyday wellness. A significantly large proportion of male founders reported lower scores for both overall well-being (37 percent) and everyday wellness (27 percent), in comparison to their female counterparts (29 percent and 24 percent, respectively). However, 48 percent of founders report low community support, and only 31 percent feel strong support from entrepreneurial networks.
Shashank Shekhar, Founder, Stoned Santa — “Many times, you have absolutely no control over certain aspects of the circumstances. We’re still bootstrapped as a company and that too at an early stage. The kind of business we do requires a lot of human interaction. I started experiencing anxiety. Just the thought of attending to or attempting a call would make me anxious. I started procrastinating heavily. I wouldn’t take any calls. I even stopped replying to messages that were not work-related. I stopped texting my friends. I would just ask myself, what’s the point? Who am I to be sharing my experiences or my story? Why should it matter to anybody? At this time, when everything seemed to be falling apart, I started my sessions with my coach at YourDOST. It was an excellent opportunity to rethink the way I think. My coach recommended that I journal my thoughts so that I become more aware of them. The next step was to dig deeper into the root of my thought processes. One thing that kept coming up again and again was how I thought of myself as incompetent. He told me not to believe it as a true fact, but to think of it as an assumption, which may or may not be true. Now I needed to dig deeper to back it up with facts to prove if it was indeed true or not. This approach was very effective for me. I’ve also started getting close to understanding the roots of my anxiety and behavioural patterns.”
The data also revealed that experience plays a significant role in entrepreneurial everyday wellness. Entrepreneurs with more than six years of experience reported a high everyday wellness rate of 74 percent, compared to 57 percent among early-career entrepreneurs. This highlights that seasoned entrepreneurs tend to develop better strategies for managing day-to-day stress and maintaining energy levels, whereas early career entrepreneurs might still be learning to navigate everyday challenges, indicating the need for more emotional support.