The Reality of Entrepreneurial Life

For many, starting a business is a dream come true, but the reality often differs from the idealised image of entrepreneurial success. A significant number of entrepreneurs find themselves working tirelessly, even when they are supposed to be on holiday. In fact, 81% of entrepreneurs continue to work while they are meant to be taking a break, leading to a high risk of burnout.

This constant work ethic is not just a minor issue; it has serious implications for mental and physical health. Nearly 60% of small business owners report working more hours than they did when they had a regular job, and four out of five entrepreneurs experience poor mental health as a result.

The Pressure of Entrepreneurship

The initial years of running a business are particularly challenging. Entrepreneurs often face intense pressure and stress, leading to long hours and little time for self-care or family life. This environment can make it hard to prioritize looking after oneself, with 72% of founders stating that they struggle to find time for self-care.

The constant high pressure can also lead to team burnout, negatively impacting business performance. Most founders believe that working long hours is inevitable when you’re an entrepreneur, with 82% accepting this as part of the job.

The Impact on Mental Health

The lack of self-care and the constant threat of burnout are significant concerns for entrepreneurs. Burnout can negatively impact decision-making, creativity, and overall business success. In fact, burnout is cited as one of the top reasons that startups fail.

The mental health toll is further highlighted by the fact that nearly one in five entrepreneurs did not take a holiday within the first two years of starting their business. This relentless work schedule can lead to severe mental health issues, with one in 10 small business owners even contemplating suicide due to factors like cash flow problems and late payments.

Seeking Solutions

Wellbeing Initiatives

Recognizing the need for change, some companies are implementing wellbeing initiatives. For example, Xero has introduced wellbeing leave for its employees, although this may be unattainable for many small businesses. However, other solutions are being explored, such as the four-day working week, which some companies claim can boost productivity and staff wellbeing.

Balderton Capital has launched a Founder Wellbeing Platform to help founders take better care of their mental and physical health. This platform acknowledges that the historic approach of simply working harder no longer makes sense and aims to provide a more sustainable way for entrepreneurs to manage their workload.

Tips for business owners:

• Delegate and Outsource Tasks: Identify tasks that can be delegated to employees or outsourced to external professionals, such as administrative work, marketing, or IT and website support. This allows the business owner to focus on high-impact activities and reduces the burden of managing every aspect of the business.
• Implement Strict Work-Life Boundaries: Establish clear boundaries between work and personal life. Set specific working hours and stick to them, ensuring time is allocated for relaxation, hobbies, and spending time with loved ones. Avoid checking emails or taking business calls outside of these hours to maintain a healthy work-life balance.
• Prioritise Self-Care and Mental Health: Make self-care a non-negotiable part of the routine. Regular exercise, healthy eating, adequate sleep, and mindfulness practices like meditation can significantly improve mental resilience. Additionally, consider seeking support from a mentor or coach who can provide guidance and an external perspective on managing stress and business challenges.

Running a small business is a demanding task that often comes with significant personal costs. While the entrepreneurial journey can be rewarding, it is crucial to address the issues of burnout and poor mental health. By recognizing these challenges and seeking out supportive solutions, entrepreneurs can better manage their workload and maintain a healthier work-life balance.

At GorillaHub, we understand the pressures of running a small business. That’s why our Website Care Plans are designed to take some of the load off your shoulders, ensuring your website runs smoothly without you having to lift a finger. Explore our plans here and see how we can help you focus on what matters most—growing your business.