Entrepreneur mental health is a serious concern. Being an entrepreneur requires long hours, hard work, and sacrifice. Entrepreneurs can quickly get burned out and mentally exhausted.
It doesn’t have to be this way. Health as an entrepreneur is attainable. A proactive, assertive assistant can bring an entrepreneur’s life out of the rut and back to a healthy, good place.
Being an Entrepreneur: By the Numbers
- 83.1% of US business owners started their companies.
- 66% of jobs in the US were created by Entrepreneurs.
- Entrepreneurs make up 3% of the US population.
Being an Entrepreneur: By the Hours
How often do Entrepreneurs work?
This is a question every entrepreneur gets asked at least once. However, all entrepreneurs’ working hours are different, varying with the company’s size, number of employees, and nature of the business. Some entrepreneurs may work as little as 20 hours, while others work 80-90 hours a week.
Based on a New York Enterprise Report survey, small business owners work twice as much as regular employees, with 33% working more than 50 hours per week and 25% working more than 60 hours a week.
The majority of entrepreneurs work a crazy number of hours, leading to burnout at work. They will sacrifice — often unintentionally — health, family, and personal time in pursuit of their ambitions.
Being an Entrepreneur: By the Vacations
Do Entrepreneurs take a vacation?
The short answer would be: Yes! 57% of small business owners are taking or planning to take vacations this year. However, that vacation time is not the traditional two weeks like a regular employee.
The reality is when entrepreneurs take a vacation; they are not enjoying a complete, task-free break. According to an OnDeck article, 67% of small business owners will check in to work at least once a day.
Entrepreneurs face the unfortunate reality that they are solely responsible for their companies and often feel they cannot fully recharge.
Being an Entrepreneur: By Their Mental Health
Most entrepreneurs are affected by mental health issues due to the amount of stress they experience daily. From decision-making to managing teams and customers, financial pressures and keeping the business operating can be overwhelming and mentally exhausting for any entrepreneur.
Below are statistics on how mental health differs between entrepreneurs and non-entrepreneurs:
- 72% of entrepreneurs are directly or indirectly affected by mental health issues compared to just 48% of non-entrepreneurs. (NIMH)
- 49% of entrepreneurs deal with mental health issues, while only 32% of their counterparts experience them. (NIMH)
- 45% of entrepreneurs report being stressed compared to 42% of “other workers.” (Gallup Wellbeing Index)
- Entrepreneurs are more likely to have “worried a lot” — 34% vs. 30%. (Gallup Wellbeing Index)
In addition, entrepreneurs were found to be more likely to experience the following in comparison to the general population:
- Depression: 30%compared to 15% and 16.6% (APA)
- ADHD: 29%compared to 5% and 4.4% (NIMH)
- Addiction: 12%compared to 4% and 8.4% (SAMHSA)
- Bipolar diagnosis: 11%compared to 1% and 4.4% (NIMH)
Suicide is another factor that affects entrepreneurs. It’s not something talked about enough among entrepreneurs, but it happens too often. Success doesn’t protect them as most would think it does. When we talk about the most common causes of death for entrepreneurs, number one is heart failure, and number two is suicide.
The numbers–and stories we hear from entrepreneurs–communicate a crucial truth: They are burned out and overextended, and it costs their mental and physical health. Entrepreneurs are responsible for most jobs created in the US, and they pay for it dearly.
How Can An Assistant Help?
- An assistant can have an entrepreneur’s back! When entrepreneurs are stressed out, an Executive Assistant can find ways to lighten their load or solve the crisis.
- No such thing as “small jobs.” It might feel like assistants are just handling an email or scheduling a haircut, but these “small jobs” take away from an entrepreneur’s mental load and create trust.
- Assistants, be a safe space for entrepreneurs to vent. If an entrepreneur is having a bad day, check out this article: Cure For Entrepreneurs Who Are Having A Bad Day! It is an excellent resource assistants have utilized to assist entrepreneurs.
- We encourage entrepreneurs to take a recharge day. Sometimes an entrepreneur won’t want to take a vacation. It’s hard to trust their team can function while they’re away. An excellent assistant builds trust so entrepreneurs can go and mentally recharge.
- An assistant can and should create freedom and growth. When entrepreneurs have the space to think creatively and grow their business, they are at their best. This is the space where they do what they love, aren’t bogged down, and don’t feel stressed.
Being an entrepreneur is often viewed as a glamorous lifestyle, but many fail to recognize the long hours and mental toll it can take. Our goal is to help successful entrepreneurs achieve new levels of freedom and growth. We strive to increase entrepreneur health. All Superpowers assistants are skilled to ensure you never feel burnt out or stressed. Book a Discovery Call today to find your Executive Assistant!