I’m tired of the same “reality of being a founder” posts
I've seen a lot of posts/articles etc. recently about the "reality of being a founder".
Often they're worded as a "warning" to people not to "idealise" it - filled with horror stories about late nights, no breaks and endless stress.
I applaud and appreciate people's honesty and I do think their intentions are good. But amongst all the LinkedIn comments commending their bravery, I think there's another side that's often forgotten about.
When the narrative is almost always the same, it can perpetuate a very particular idea of how a business should be run that has for so long excluded so many.
You need to be available 24/7? This disadvantages those who for either their own wellbeing or that of others, can’t be available at all hours, such as those with caring responsibilities, disabilities or mental health issues. As well as women, who sadly often take on more responsibilities at home and therefore have less time to be available to work.
You need to accept little to no money at the beginning? This disadvantages those who simply cannot afford to do so, such as those without savings, those who can't move in with friends or family members or know they have this option to fall back on if things don’t work out and those with financial responsibilities/dependents.
You need to neglect/delay things in your personal life? This disadvantages those for whom the consequence of doing this is too great, such as women who want children - as delaying this isn't always possible.
You need to be able to deal with ongoing stress/anxiety? This disadvantages those for whom the impact of stress and anxiety can be very severe, such as people with chronic illness and mental health issues. And to be honest, anyone that values and wants to protect their wellbeing, in the short and long term.
By suggesting all this is the “reality” of running a business, the pool of people that supposedly can or would even want to run a business gets very narrow very quickly…
I do think this, alongside unconscious/conscious bias and structural inequalities, has a role to play in the startling lack of diversity we see in business.
For example, only 3% of funded British businesses are female founded (Buy Women Built). 75% of UK start-up founders come from “advantaged socio-economic backgrounds”. Black entrepreneurs typically receive less than 2% of overall funding each year in the US, despite making up 14.2% of the population. And 84% of disabled entrepreneurs believe they don’t have equal access to the same opportunities and resources as non-disabled entrepreneurs.
This is despite plenty of evidence that more diversity, besides simply being the right thing, yields better business results. For example, a study by Forbes found that inclusive teams made better decisions up to 87% of the time and decisions made and executed by diverse teams resulted in 60% better business results.
Beyond all that needs to change on a systemic level, I think it’s important to remember that one of the best things about setting up your own business is that it is yours. You have the opportunity to do things your way. You can create your own change.
The most successful founders I've met are those who understand themselves, the value they bring and how they work best. They don’t feel the need to follow arbitrary norms and do what feels right to them and their team. They value diversity of thought and experience. They know what they need and how to communicate that. They can effectively prioritise and be efficient with their time. They value life outside of work, to keep them happy, healthy and inspired. They prioritise keeping calm and grounded in the face of adversity and managing their stress levels.
So, if you are interested in setting up your own business, or you’re already a business owner, don't let someone with a very narrow view of what running a business should look like (that's mostly benefiting people like them) scare you off.
It's your vision and your life. And despite everything, you should never lose sight of that. We really need more people like you.