EP21: Are Entrepreneurs Touched with Fire?

Entrepreneurship is more than a career or an identity; it's an emotional journey that demands resilience. In this episode of The Conscious Entrepreneur podcast, host Alex Raymond invites Dr. Michael Freeman to explore the intricate relationship between mental health and entrepreneurial success. Dr. Freeman, a renowned psychiatrist and expert in entrepreneur mental health, sheds light on the unique challenges faced by those in the entrepreneurial world. Discussing the highs and lows inherent in entrepreneurship, Dr. Freeman emphasizes the critical role of mental health resources in sustaining growth and wellbeing. His research offers a surprising perspective: entrepreneurs with mental health conditions often have an edge in business, a testament to the complex interplay between personality traits and mental wellbeing. Dr. Freeman shares essential strategies for maintaining mental health, including prioritizing rest, exercise, and connecting with nature. He also highlights the value of building a support network of peers and engaging in authentic relationships within entrepreneurial communities. As the conversation draws to a close, Dr. Freeman calls for a shift in entrepreneurial culture – one where mental health is as prioritized as business strategy. He envisions a future where entrepreneurs openly embrace their mental health journey, integrating self-care into their roadmap to success. By redefining the entrepreneurial narrative to include mental wellness, Dr. Freeman believes we can foster a new generation of resilient, balanced, and successful entrepreneurs. Quotes: “The research over and over and over again demonstrates that entrepreneurs would have had more successful lives by a number of metrics had they pursued a career instead.” (4:46 | Michael Freeman) “My colleagues and I studied a thousand entrepreneurs and we found that there was a 3% suicide rate among these people. It's a very good sample that we did this with the Gallup organization and we got a national probability sample, a very good robust methodology, 3.3% suicidality, suicide attempts, 1.7% psychiatric hospitalization, and about 40% of this whole group had one or more diagnosable mental health conditions. So that's worth knowing because the symptoms from those mental health conditions can derail your personal life and your professional life, and they can mostly be prevented. That's part one. Part two is that they're also associated with superpowers, and you can make those superpowers work for you, and that's part of why entrepreneurs succeed.” (8:32 | Michael Freeman) “Personality traits are neither good nor bad. You just need to understand what they are and then have ways of managing them so they work for you, not against you.” (18:21 | Michael Freeman) “The entrepreneurs that I've worked with tend to feel like they are the hero in the action drama of their own startup. And that if the startup succeeds, that means they succeed. And if the startup fails, that means they're a failure. Not true. And so being able to get out of that mentality, I think, is a level of consciousness that allows you to be way less stressed out about building business.” (26:00 | Michael Freeman) Links Connect with Michael A. Freeman: Website: https://econa.net/ Are Entrepreneurs Touched with Fire? https://econa.net/wp-content/uploads/2020/08/Are-Entrepreneurs-Touched-with-Fire.pdf Connect with Alex Raymond: LinkedIn: https://www.linkedin.com/in/afraymond/ Website: https://consciousentrepreneur.us/ HiveCast.fm is a proud sponsor of The Conscious Entrepreneur Podcast. Podcast production and show notes provided by HiveCast.fm