Any entrepreneur will tell you that sacrifice is the key to success. Working hard comes with the territory, as do some very long hours.
Small business owners now work far more hours than the national average. One in every three people works more than 50 hours per week.
One in every five people works more than 60 hours per week. Small businesses were found to work twice as hard as traditional employees in all cases.
But entrepreneurs are also people. Nonstop work, despite their intense work ethic and superhuman endurance, cannot last forever. There is always a tipping point, which often results in a disastrous outcome: burnout.
Entrepreneurs are affected by burnout in a variety of ways. A vast 42% of all entrepreneur’s report feeling burned out in the last year, a figure that is only expected to rise.
This figure is much higher for minority-owned businesses, with 62% reporting burnout. Worse, 53% of those polled say burnout is having a negative impact on their business.
Burnout has a negative impact on more than just the mind. It can have serious consequences for the health and success of your business if it becomes severe enough.
Determining burnout
The complete exhaustion of a person’s mental, physical, and emotional well-being is referred to as burnout. It is frequently caused by chronic stress or anxiety as a result of continuous work.
Entrepreneurs have been suffering from burnout for thousands of years, despite the fact that the official term was not coined until the 1970s.
There are now thousands of research articles delving into the intricacies of burnout and its effects on the human body.
Burnout can be caused by a variety of factors:
- Failure to recognize: According to studies, a 48% increase in burnout reports is caused by a lack of recognition in the workplace. If you’re a solopreneur, you’re probably short on recognition.
- Drive to progress: Entrepreneurs frequently believe they must work harder than traditional employees. According to polls, approximately 74% of people believe they will work more as self-employed individuals.
- Overworking all the time: Working more than 40 hours per week has been linked to an increase in burnout factors.
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