Though we’ve learned through numerous studies that those with high job satisfaction also find greater satisfaction in all aspects of their life, there has been very little study about entrepreneur satisfaction as a measure for success.
I’m not fond of the euphoric implications of the word “happy,” but one study confirms entrepreneurs score higher in happiness than those employed by others. Another study reports 55% being Extremely Happy, which leaves 45% of entrepreneurs reporting anywhere from totally disliking their business to it making them sorta happy. Even still, 30-45% of owners report continuous concern about things like payables, receivables, health care benefits, and hiring. One other study I found validates money’s not the only measure of success. 46 percent said they started their business to have more freedom or flexible work schedules; only 19 percent started their companies to earn more.
I recently surveyed my own readers, offering a simple scale of 1-10 to define how satisfied you are with your business, and your life. Here are the highest satisfaction scores.
I’ve not cross analyzed the data to see if, for example, whether those meh scores in the 5-6 middle of Business and Life are connected – are people compromising in both areas and finding satisfaction in neither? I’m sure I’ll continue to explore correlations as I delve deeper in this area of focus.
I do know that through my continued work directly with entrepreneurs, and the upcoming web series for mill-yuns more, I intend to move the Satisfaction needle, and keep it steadily hovering in the 9-10 zone. And this is where my work gets really interesting.
Satisfaction is not a destination.
What is fulfilling now may not be in three years, or even three months. That’s what makes satisfaction potentially elusive. Fulfillment in entrepreneurship is a process, not a destination – it’s a commitment to fluidity amid the inevitable changes in life/business, allowing the accompanying gains and losses that come with change to flow freely, with sufficient cushion that the impact of change doesn’t completely drain all your resources – all while remaining fearlessly curious about every plot twist.
While putting the brand on my upcoming webcast series, it’s become very clear. My life’s work is about helping entrepreneurs grow not just financially viable businesses, but ones that meet their personalized criteria for success. Entrepreneurship’s infinite flexibility offers the best chance to create a sustainably fulfilling life.
Homework: So if you have not yet seized the powah of your choices, start here, with my Business Owner’s Credo and the homework within. When you own your business, you also own your life.