By now we are all familiar with the risks of burnout. Research shows that it leads to work-related issues such as job dissatisfaction, absenteeism, inefficient decision making, and turnover, as well as health-related issues such as depression, heart disease, and even death. Research also reveals some of the common causes of burnout, such as lack of autonomy, engagement, motivation, and passion.
But since much of this research has looked at employees in large organizations, we know less about what burnout looks like for other types of workers. We wanted to study a group that seems to be more susceptible to burnout: entrepreneurs.
Some evidence suggests that entrepreneurs are more at risk of burnout because they tend to be extremely passionate about work and more socially isolated, have limited safety nets, and operate in high uncertainty. This has important consequences for economic growth — entrepreneurial firm failure and bankruptcy is likely to contribute significantly to the $300 billion that burnout costs the U.S. annually.
We conducted a study to see what factors lead to greater burnout among entrepreneurs. Specifically, we looked at whether job passion, job fit, and destiny beliefs (the belief that a successful entrepreneurial career is “meant to be”) make entrepreneurs more likely or less likely to experience burnout. These factors have been shown to affect important outcomes such as entrepreneurial stress and venture performance.
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