Understanding the Unique Psyche of Entrepreneurs With Dr. Michael Freeman
A conversation on with Dr. Michael Freeman on the latest research & untold stories of entrepreneurs' inner struggles
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Starting and running a company can be HARD.
And when you look at the odds of success, you realize you gotta be a little crazy to do it.
In some ways, the ignorance is bliss factor can be an entrepreneur’s best friend. There were many days during my last company where I’d think about how if I knew how hard this was going to be, I’m not sure I would have done it. I’m finding the same thing can be said about taking a steep path of spiritual evolution BTW. I’m not sure I really had a choice in all this, but man I guess I like hard shit!
So what is it about entrepreneurs that make them do the things they do?
Are they fundamentally different from the average bear?
And what implications does this have for their mental health and well-being?
This is the nature of my conversation with today’s guest Dr. Michael Freeman. Dr. Freeman serves as a Clinical Professor of Psychiatry at the University of California San Francisco School of Medicine and as a Mentor in the Entrepreneurship Center at UCSF. With support from the Kauffman Foundation, Dr. Freeman has conducted extensive research into the mental health of entrepreneurs. Freeman studies issues related to entrepreneur mental health in collaboration with colleagues from U.C. Berkeley, the Gallup Organization, and other universities. Additionally, he was the founding Chief Medical Officer at U.S. Behavioral Health and the Founder of Econa, the global center of excellence for entrepreneur mental wellness.
This conversation is wide-ranging and eye-opening. Here are some of the main ideas I found compelling:
The data shows entrepreneurs are born, not made, though you can create conditions to teach someone to both improve and become an entrepreneur
Many of the proclivities of entrepreneurs make them more susceptible than others to mental health conditions such as addiction, depression, and anxiety
Entrepreneurs create a ton of jobs and stimulate our economy. In California, they are responsible for over 30% of job creation. It’s very important that this population has the mental health support they need
Many entrepreneurs are simply unaware that their compulsions are abnormal. This often creates situations where there’s seemingly no problem…until there’s a big problem.
Many venture investors seem to be talking about how important mental health is, yet there isn’t a ton of action being taken in aggregate to support entrepreneurs. This may be due to the many bets venture model and fund return timelines.
There are tons of free interventions that entrepreneurs can put in place today to improve mental health. These include maintaining interests outside your company, having friends beyond other entrepreneurs, spending time in nature, exercising, getting enough sleep, and eating a nutritious diet.
One thing that we talked about that I hope a lot of people take away from this conversation is that if you are an entrepreneur and feel different in your inner experience, this is normal. There were many days where I would look around at others, thinking why do I feel this way? I guess this is part of the gig.
If you feel this way, it is completely okay, and there is no shame in seeking help and guidance.
I hope you enjoy this conversation!
-Scott
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Thanks for this interview Scott. My and my fiance have always done things a little differently... We've both chosen the self-employed life and the last 5 years have been full of surprises, ups and downs and a healthy dose of uncertainty. And yet—I couldn't imagine it any other way! There's nothing like the feeling of having YOUR work pay off. I'll be sure to listen to the full interview later because I've certainly noticed we need to keep tabs on our mental health, especially since it's so linked to our livelihood.