Uncovering a Global Epidemic Affecting Startup CEOs

Recently I delivered a keynote in Vienna for Pioneers 18, a conference for founders/ CEOs from many countries around the world. I went in feeling confident that a message of establishing flexible, trust laden cultures and the importance of developing enhanced EQ to be effective in this fast moving environment would resonate. See, I know it’s a hard transition for founders to move from being visionaries and fundraisers to leading a larger organization. And I know I can help. What I under estimated was a deeper issue that reverberated through the audience
I presented the concept of VUCA (Volatility, Uncertainty, Complexity, Ambiguity) and explained how this is the current state of business. If an organization were not prepared, the disrupters in the room would surely be disrupted. I shared technological advances from Accompany.io, to help measure the effectiveness of cultures and teams.
I moved forward to talk about the importance of developing your EQ. There is increasing research demonstrating that leaders with high levels of attributes like adaptability, cultural competency, empathy, intellectual curiosity and 360 degree thinking can actually improve their company’s financial performance (see uscthirdspace.com for more). This was all well received, but it was the next bit of information that struck a deep chord.
There was a slide I borrowed from my new friends at Project Atlas, a holistic program developed by Alpha Bridge Ventures. It simply stated that 30% of founders suffer from depression, 27% suffer from problematic anxiety, 65% of startups fail as a result of cofounder conflict; which is higher than the divorce rate. As much as 30% of failed startups cite mental health as a key to their failure.
Although these alarming figures were not the main thrust of my speech, they immediately created a flurry of conversations after my presentation and it continued subsequently on social media. A woman approached me to say how refreshing it was that there was validation to the way she was feeling. She then posted a comment about my speech on Twitter, which pulled me into a deeper dialogue on the subject.
“I feel all consumed. All the time. It’s hard for me to be present in non-work conversations.”
One Silicon Valley CEO wrote: “ I feel the bone crushing stress and pressure of being a venture backed CEO. In the worst moments - missing a goal, letting a team member go, pivoting - it’s almost unbearable. I feel all consumed. All the time. It’s hard for me to be present in non-work conversations. I feel incredibly lonely. As a CEO it’s hard to fully open up about my company and it’s hard to find other CEOs who are willing to be vulnerable.”
This bold confession both saddens me and strengthens my resolve. As a founder/CEO there’s often nowhere to go for support. You can’t show this type of vulnerability to your board members or to your employees. The type of support needed here should come with the gig. If venture capitol firms followed Alpha Bridge’s lead, they would embed an individual or better still, a team that could fortify their investment in the CEO the way that professional sports teams protect their investments. If you're an NBA player for instance, you might have a shooting coach, a strength coach, a nutritionists, a sports psychologist… However, companies that invest millions of dollars into the performance of their leader rarely make a support system part of the structure of the deal unless they see a problem emerging.
I’m on a quest to help individuals and teams produce a highly engaged and highly effective workplace.
I literally had founders/ CEOs lining up after my speech to express their feelings on this issue. One attendee posted later, “ I had the pleasure of meeting a fantastic guy who gave a fantastic talk on leadership and how to maintain your mental health through this journey of building a business. We are all so driven to be the best, selling the most, creating the best tech, raising the most money that we don’t stop to calibrate our current existence. You won’t get there if you don’t focus on the small things. Building a great culture for your team, steadying your mind so you can execute efficiently, being a positive leader. The honest truth is that 90% won’t make it. This shit is hard and takes mental endurance.”
This type of support needs to be viewed as a long-term commitment. It’s not something you learn in a lecture or workshop. These men and woman need our guidance and attentive listening to fully help them realize their potential and more importantly their peace of mind. That’s when they are at their best. That’s where the true creativity occurs. That’s when they can focus on building the type of organization that will flourish and get the best return on investment for venture capitalists around the world.