We studied America's entrepreneurs and found too many of them were burned out, anxious and depressed. We need a well-being revolution | Fortune
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We studied America's entrepreneurs and found too many of them were burned out, anxious and depressed. We need a well-being revolution | Fortune
Well-being directly drives entrepreneurial growth and influences venture success. High rates of anxiety, depression and burnout affect a large share of founders, with surveys reporting 87% experiencing at least one of these conditions and other studies finding 30% depression and 27% anxiety versus 7% in the general U.S. population. Compromised well-being reduces productivity, innovation and persistence, lowering economic output. Long work hours, unclear work-life boundaries, skipped sleep, meals and exercise, and the demands of managing multiple business functions contribute to deteriorating well-being. The unpredictable, resource-constrained nature of entrepreneurship encourages self-exertion that exacerbates these risks.
"It's no secret that entrepreneurs invest heart and soul into starting, running, developing and growing a business. But building a company can come at a cost to personal well-being and therefore to venture success. Our new research reinforces the concept that well-being is more than just personally fulfilling-it actually drives entrepreneurial growth. The potential adverse consequences to entrepreneurs when well-being is disregarded are well-documented. One survey revealed that 87% of founders reported experiencing either anxiety, depression or burnout-or all three."
"Another found that 30% of entrepreneurs acknowledged depression and 27% anxiety, rates well above the 7% prevalence in the overall U.S. population. Additional research shows that entrepreneurs with compromised well-being were less productive, innovative and persistent, leading to lower economic output. Entrepreneurial well-being is a multifaceted concept defined as the experiencing of satisfaction, positive affect, and psychological functioning. So what's contributing to these high levels of compromised well-being?"
"Granted, entrepreneurs work hard, sometimes too hard. Many entrepreneurs work 50 to 60 hours per week, often more during the startup phase, compared to the standard 40-hour week for most employees at corporate jobs. Entrepreneurs may also work without clearly defined work-life boundaries and days off-pulling all-nighters, skipping meals and sleep, or forgoing exercise in exchange for logging long hours. The top performers in entrepreneurship average only about six hours of sleep per night."
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