Entrepreneurs are prone to hopping from their neighborhood Starbucks to a co-working space to a cluttered kitchen table to start the beginnings of their business. Founding a company equates to this inevitable instability, an undeniable risk and a slew of sleepless nights. Despite the daunting description, however, taking the leap will produce an unparalleled level of happiness — it’s now statistically proven.
The Global Entrepreneurship Monitor released its 2013 Global Report on Tuesday, claiming, “Entrepreneurs are among the happiest individuals across the globe when it comes to personal well-being and satisfaction with their work conditions.” What’s more, the draw for women is even greater. The report — sponsored by Babson College, the Universidad Del Desarrollo and the Universiti Tun Abdul Razak — argues:
Women entrepreneurs from innovation driven economies showed, on average, higher degrees of personal well-being than their male counterparts.
A recent GEM report stated there are more than 126 million female entrepreneurs now active worldwide. There was still one problem, however:
In most economies around the world, there are fewer women than men starting and running new businesses, but there are even fewer running mature ones. This raises a red flag about the ability of women to easily transition from starting to sustaining their businesses.
To visualize the gender gap, take a look at how male and female early-stage entrepreneurial activity breaks down by geographical region:
What the GEM’s newest study shows, however, is that entrepreneurship is a career choice well worth the risk several are too scared to take. Yet, if women can be guaranteed happiness, why not take the plunge?
More than 197,000 individuals were surveyed to assess well-being. Although specific rationale is reportedly being saved for a future report, here are just three reasons being an entrepreneur is bound to make you happier.
You Get to Be Your Own Boss
No more answering to the insufferable head honcho you spend your evenings complaining about over cocktails with friends. They’re tired of hearing the same saga, just as much as you’re tired of talking about it. If you want to see something done a particular way, go out and do it yourself. The only person you can then complain about is the one staring back at you in the mirror every morning.
You Have a More Flexible Schedule
Forget the nine-to-five. By starting your own company, you have started creating your own schedule. Although launching a startup will take more time, you can choose the hours to be on the clock. Work-life balance will rest on you discovering how best to balance your life.
You’re Making an Impact on Society
Entrepreneurship drives our economy, all while letting founders pursue their passions. As Josh Allan Dykstra, a consultant, author and speaker, fittingly explained to Inc.:
As entrepreneurs, we are always analyzing the state of the world, examining the larger stories that are playing out on a macro/global level. While we strive to make sense of these big-picture stories, we are also searching for the places our personal strengths and passions can make a larger impact on the world. We make the most difference when we find where the intersection point of the thing that makes us feel alive also lines up with the bigger story, allowing us to improve society in some meaningful way.