The world is witnessing a landmark increase in the number of people venturing out as entrepreneurs and this trend is only set to grow in the future years.
Founders are the new rockstars of the American culture. We are overjoyed by overnight success stories. Successful entrepreneurs attain hero status with headlines bombarding you with information about the amount of money raised by their companies.
But it’s actually not all this rosy after all.
As per research by Small Biz Silver Lining, 76% of small business founders are concerned about their well-being. A scathing 56% of them have already been diagnosed with mental health disorders. According to research by Michael Freeman, being an entrepreneur makes you 50% more likely to have a mental illness.
With so many entrepreneurs being pushed in the rat race to hustle intensively for success, it is important to stress the importance of entrepreneurial well-being.
With demanding work hours stretching to almost 80 hours a week to the added stress of failure and societal expectations, entrepreneurs continuously struggle with balancing their work and personal life. Understanding the importance of entrepreneurial well-being can not just increase the overall quality of one’s personal life, but you will be surprised at the miraculous effect it can have on your business as well.
On that note, let us understand why understanding the importance of entrepreneurial well-being is important for business owners. Whether you are looking to uptick your mental health or just looking to make better decisions at work, this is the perfect place to start. Let’s dive in.
Here’s Why You Should Understand The Importance Of Entrepreneurial Well-Being
1. It helps you take better decisions for your business.
Your mental health and well-being have a massive impact on your decision-making. So, as an entrepreneur, if you are stressed out or your mind is cluttered with overwhelming emotions, there is a high chance that this will affect your ability to make sound business decisions.
This is exactly why you need to understand the importance of entrepreneurial well-being. It helps you keep a clear head, upticks your problem-solving skills, and allows you to make better decisions eventually.
Read more: Reasons Why Taking A Mental Health Day Is A Temporary Solution
2. It helps you become a better version of yourself.
Now see, being a better version is not exclusively limited to your professional space. Being a better person means being a better entrepreneur, parent, son, partner, friend, etc. (You get the idea, right?)
When your life gets busy and your professional sphere is stressful, you easily lose focus and concentration. This is why stressing the importance of entrepreneurial well-being is important. When you focus on your well-being – from the food you eat to the amount of sleep you get, to your physical activity, etc. – it reflects in your overall personality.
3. It helps you cope with adversities.
Entrepreneurship is a tough and tumultuous journey. It is almost like a double-edged sword – it has the power to make you and break you on different levels. Therefore, when you recognize the importance of entrepreneurial well-being and focus on being physically and mentally healthy, you are better equipped to handle both the highs and lows of your journey.
This way you don’t fly off the rails when something picks up and you don’t give up at the first instance of failure. This is why entrepreneurial well-being should be a priority of every business owner.
Read more: National Careers Week 2023 – Transitioning From College To Work
Conclusion:
Understanding the importance of entrepreneurial well-being is important for everyone venturing into the field. It helps you maintain a good work-life balance, make better decisions, and become a better person in the process.
Burnout is a significant threat to workplace mental health. To learn more about how to avoid burnout at work, click here.
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