100 Stories of Growth - Insights from Entrepreneurs

17 16 INSIGHTS FROM ENTREPRENEURS INTRODUCTION In the first section, we highlight founders’ experiences of wellbeing and mental health as they have progressed on their growth journey. Opening the lid on what is often considered to be a private topic, our research reveals the darkest hours that entrepreneurs have faced. Also, where they could have benefited from more professional and personal support, and crucially, where they would like to see more available support in the future. Next, we examine how people in all forms are the vital element of human capital. They are the ones who make sure that all types of businesses – including tech-centric enterprises – communicate well and run smoothly. And the ones that make the best decisions. We explore which interactions, relationships, support and guidance offer the best value to entrepreneurs. We also investigate where and why they seek most encouragement, and how they build their management and fully functioning teams. With the right relationships, expert support and teams in place, we discuss how entrepreneurs are confidently growing their operations at home and abroad. Then we seek to define the human face of financial capital. Trust, alignment of interests and understanding form the basis of effective and rewarding investments and financing. But looking beyond the cash element, we show that responsible providers of financial capital create beneficial partnerships – not just transactions – by backing the person and not just the company. And looking to the future, we explore how founders would like to fulfil their long-term ambitions, and personal and professional legacy goals – all intrinsically emotional contracts. This type of success can only be achieved if wellbeing, good mental health and emotional support are maintained throughout the growth journey. How to navigate this report Four key stages on the road to success Lifting the veil on entrepreneurs’ wellbeing and mental health Aiming for perfect alignment of interest with capital providers The emotional end-game and legacy fulfilment Your people will drive your success 1 3 2 4 Any growth-focused or scale-up entrepreneur is central to the success or failure of their business. That journey is likely to be much more enriched and successful if a company founder receives support, encouragement and advice from the right stakeholders at the right time. This support may come from mentors, investors, their teams and their families. Rather than focusing on a shared burden though, we should offer support as a joint responsibility. Our quantitative and qualitative research reveals that focusing on wellbeing and good mental health creates the best foundations for business success. As founders and business leaders make professional and personal decisions in growing their businesses, we have to acknowledge the emotional factors in every decision they make. Throughout this report we show that wellbeing, good mental health and strong human interactions form the basis of good business practice for fast-growing UK companies. This golden thread links every part of a founder’s growth journey. of entrepreneurs feel they would have been more supported if they shared experiences with founders in the same boat 62%