Nearly 50% of founders report a stigma around going to a shrink. This millenial founder explains why.

In the Startup Snapshot report “The Untold Toll”, it was noted that there is still stigma among young founders about seeking help in the form of therapy.

I started my first company in 2020 and can strongly relate to this. Even though I was open to the idea of therapy, I never felt that I needed it.

As entrepreneurs we ask for help all the time. We ask for introductions and free office space, we ask for technology, product or GTM advice. We sometimes even offer equity in the company in return for these things.

However when it comes to the most important thing for the success of the company – our mental health, self confidence, and clarity of thought, we often don’t ask for help.

Personally, I had several reasons for not asking for help.

First, as a young founder, I didn’t know what was ahead of me since it was my first time, so I couldn’t prepare properly. I didn’t even know what to ask for. Second, people in the ecosystem always acted like everything was perfect, especially on social media like LinkedIn or Twitter. There’s a strong survivor bias, and even failures are presented positively. Third, I didn’t know who to ask or where to go for help. With so much happening, I didn’t know what kind of help I needed. For me, not getting help at the right time lead to burnout.

The thing about burnout is that it creeps up on you. There’s an endless amount of work so you start taking late calls, then working on the weekend. You skip workouts and meals to get those extra two meetings in.

At some point you stop feeling hungry (congrats, your body has entered constant flight / fight mode) and this becomes your habit of operation.

Then when shit really hits the fan – market crashes, term sheet gets pulled, key customer churns, you are out of energy. You are running on fumes when you need to be operating at your best.

Pro athletes have coaches, nutritionists, and specialized sports psychologists to help them reach peak performance. It is streamlined for them.

Imagine if every athlete was left to take care of their own coaching, nutrition, and mental health? Athletes would burnout and teams would fall apart.

How do you think a founder will perform during a fundraise when he is burnt out?

What about when he is at peak performance?

As Performance Psychologist, Dr Alex Auerbach shares “While seeking help can be scary, we know that founders, like any performers, are going to do better when they are mentally well and supported. And, if they’re able to get coaching to help optimize their performance, there’s a greater chance that their company thrives. Ultimately, therapy and coaching are investments in future performance – just like any other service you’d buy to help grow your company.”

Investment in yourself through therapy or coaching can be the difference between life or death of the company. It ensures the founder operates at peak performance and is ready to take on challenges. It can be worth tens of millions of dollars for investors.

I think it is critical for VCs, angel investors, and experienced entrepreneurs to be honest about the journey of starting & scaling a venture-backed business and offer true support to the founders’ well-being.