100 Stories of Growth - Insights from Entrepreneurs

— SIMON SWAN, FOUNDER, HIRING HUB 21 20 INSIGHTS FROM ENTREPRENEURS EMOTIONAL CAPITAL Revealing founders’ darkest experiences Our research indicates that entrepreneurs’ wellbeing and mental health may be tested to the extremes more often than we’re aware. While they’ve been growing their business, the pressures mount and take their toll for many. More than half (53%) of company founders tell us that growing their business has been “one of the toughest experiences of my life” and a further 46% say they have “felt constantly under pressure”. It is concerning that what probably started out as a positive company growth journey for many has descended into the realms of negative superlatives. The pressures that entrepreneurs feel are seemingly relentless – they’re a testament to an undercurrent of potential wellbeing and mental health issues. Many company founders and CEOs are generally considered to be resilient leaders by almost everyone who surrounds them. They take the roles of leader, supporter and business controller. So, it may come as little surprise that a quarter (25%) of respondents in our research acknowledge they’ve had poor mental health in the past but have “tended to suffer in silence”. They feel they have to be strong in public. We were insolvent. An angel investor that had put debt into the company was sending us winding-up orders every month. We couldn’t make payroll, were behind on PAYE and VAT, and it was the day of our Christmas do. I was on the brink. I just wanted to run away. A week before my parents had just given me £25k inheritance as my gran had died a few months earlier. Without telling my wife, I put all the money into the company to make payroll and pay for the Christmas do. I had a terrible evening. I couldn’t enjoy it. I hated myself for not telling my wife what I’d done.” It’s a huge stress growing a business While you’ve been growing your business, which of the following statements best matches your experience? It’s been a great experience and I’ve felt completely in control at all times I’ve felt constantly under pressure It’s been one of the toughest experiences of my life My mental/emotional health has been negatively impacted and I’ve tended to suffer in silence My mental/emotional health has been negatively impacted and I’ve had to take time off Mymental/emotional health has been negatively impacted and I feel like I’ve burdenedmy family and friends I’ve wanted to share my emotional burden but didn’t know who to turn to I felt completely alone, being unable to spend quality time with family and friends I’ve had to seek medical advice about my mental/emotional wellbeing I’ve felt constantly down and it doesn’t feel worth it 23% 53% 46% 25% 7% 22% 12% 9% 8% 0% Source: 100 Stories of Growth - Capital at Work