Is being an entrepreneur the answer to happiness?

Reflecting recently on my decision to set up my personal pension 30 years ago, I realise how much my perspective on retirement has evolved. Back then, 55 seemed like the epitome of old age, a time to kick back and enjoy the fruits of my labour - who on earth would want to work longer than that?!

At the time I was working in marketing and the prospect of a career working with corporates yawned ahead of me. No wonder I thought like that.

Six years later I took the leap to work for myself. And that was a complete game changer in how I feel about my work. Transitioning from the corporate world to running my own business not only altered my professional journey but fundamentally transformed how I perceive work and fulfilment.

Did you see the results of the 2024 World Happiness Report? Once again, young people aged 15 to 24 report higher life satisfaction than older adults. The U-shaped curve that represents the data, shows on average that happiness nose dives from there and increases again for those who are in their 60s onwards (this increase is due to far lower expectations of life that are easily exceeded).

How do your own levels of satisfaction compare?

Looking back at my satisfaction over the years, I am struck by how I have bucked this trend. I’m pleased to report I was very happy in my 20s, but my 30s were astounding and, again, in my 50s I feel I am rocking it! And I can put a lot of this down to running my own businesses and the autonomy, creativity, purpose and pleasure this has brought me.

In my coaching practice, I've have the privilege of working with clients spanning multiple generations, each driven by their entrepreneurial spirit. It's inspiring to see the diverse experiences and perspectives they bring, along with their desire for meaningful work and personal growth. I have no doubt that their levels of satisfaction are far higher than average.

I came of age at the weekend for my pension to mature. And oddly enough I don’t want to retire. Would my 25-year-old self be pleased or appalled?! In reality the prospect of another five years, and perhaps beyond, holds a sense of excitement and possibility, a testament to the ongoing evolution of my journey as both a coach and entrepreneur.

Here are my three top tips to help you make your entrepreneurial journey even more satisfying:

Cultivate a healthy work-life balance:

It's easy for us to get caught up in the hustle and grind of building our businesses, far harder to prioritise self-care and maintain a balance between work and personal life, but it's essential.

Schedule regular breaks, set boundaries around your work hours, and make time for activities and relationships that bring joy and fulfilment to you outside of work. Every week I make sure I do something that an employed person couldn't do!

Embrace continuous learning and growth:

The life of a business owner is stuffed full of challenges and opportunities for growth.

Instead of viewing setbacks as failures, see them as valuable learning experiences that contribute to your personal and professional development. Always stay curious, seek out new knowledge and skills, and be open to feedback and constructive criticism.

Connect with a supportive community:

Building and running a business can be rather lonely at times, but it doesn't have to be.

Surround yourself with a supportive network of fellow business owners, mentors, and like-minded individuals who completely understand the challenges you face. Sharing experiences, seeking advice, and celebrating successes together can make such a difference to your happiness and well-being.

Whether you're just starting out or you’ve been running your own business for a while, do remember that the journey is as enriching as the destination. If you’d like some support along the way, book a free 30-minute chat with me.

And here's to finding purpose, passion, prosperity - and ultimately satisfaction - at every stage of life.

Do check out my latest client story from Helena who is a drinks writer and broadcaster...

...who wanted to design the perfect business as a lifestyle publisher for a balanced and beautiful life...to find out more click here.

Make confident decisions and take meaningful action, knowing you're spending time on the right things to grow your business.