Why Founders Should Work Less To Achieve More

Working 70-hour weeks might make you feel like a superhero, but let's face it: it's a one-way ticket to burnoutville. Quality trumps quantity every time. We've all been fed the narrative that success only comes to those who grind 24/7, sacrificing sleep, sanity, and social life at the altar of entrepreneurship. But what if I told you that working less might actually make you more effective? Yes, you heard that right.

As Arianna Huffington, co-founder of The Huffington Post, pointed out - "The key to success is not more hours, but better focus." - emphasizing the importance of quality over quantity when it comes to work hours and productivity.

Imagine a marathon runner who insists on sprinting the entire race without pacing themselves. Despite the initial burst of speed, they quickly exhaust themselves, risking burnout or injury before reaching the finish line. Similarly, founders who relentlessly push themselves without rest or balance may experience short-term gains but are at risk of long-term exhaustion and diminished performance. Building a business takes a serious amount of time in addition to the blood, sweat and tears - so you need to operate in marathon mode and pace yourself accordingly.

In fact, a study done by the Harvard Business Review discovered that founders who prioritize self-care and maintain a balanced lifestyle are more likely to achieve sustainable success. They found that entrepreneurs who slept at least seven hours a night were 60% more likely to achieve business success than those who slept less. Additionally, entrepreneurs who took regular breaks and practiced mindfulness reported higher levels of productivity and creativity.

And if that’s not enough to convince you, then consider the research from Stanford University that found that productivity per hour declines sharply when the workweek exceeds 50 hours and productivity drops off so much after 55 hours that you don't get anything at all out of working more. This is a classic case of diminishing returns. Think about it like this: you wouldn't drive a car without ever stopping for gas, right? Your brain is no different. It needs rest and rejuvenation to perform at its best.

So work is bad and rest is good? Well... no, ofcourse not. It’s not that simple….

All work is not created equal

It’s pretty obvious that different tasks contribute differently to the growth and success of a company. As a founder, it's crucial to differentiate between high-impact activities that move the needle forward and low-value tasks that drain time and resources. High-impact activities, such as strategic planning, product development, and building key relationships, have the potential to drive significant results and propel the company toward its goals. On the other hand, low-value tasks, such as administrative work, minutiae, and micromanagement, often consume valuable time and energy without delivering commensurate value.

The problem is that in the day-to-day life of operating a fast pace and growing business it’s difficult to see the weeds from the trees. What makes this worse is that as a ‘good human-being’ we tend to over prioritise activities that are raised by our team, which is a recipe for disaster, especially as the team grows.

In 2015, Rand Fishkin, the co-founder of Moz, a popular SEO software company, shared his emotional journey in a blog post titled "A long, ugly year of depression that's finally fading." Fishkin openly discussed his struggles with depression, anxiety, and the toll that the startup grind took on his mental health. He confessed that he had bought into the myth of the always-hustling founder and pushed himself to the brink, neglecting his well-being in the process. His transparency sparked conversations about the unrealistic expectations placed on founders and the need to redefine success beyond relentless hustle.

For the good of everyone - It’s time to take our time (and our lives) back.

When it all 'clicked'

Story time. Early on in my entrepreneurial journey I was working on an ecommerce brand, pouring every ounce of my being into it. I was burning the midnight oil, juggling a million tasks, and barely keeping my head above water. I was becoming the jack of all trades, because I felt I needed to. Sound familiar? I was caught in a trap and needed a paradigm shift to get me out of it.

In an interesting twist - I was able to obtain additional funds that I used to acquire 2 other ecommerce brands. Ironically, I found myself working less and achieving more. Huh?

Well, it turns out, being forced into managing at a higher scale and level meant I needed to rethink my approach. I had to get serious about processes, delegate tasks, and focus on the big picture. And you know what? It worked like a charm. After the shock (and adrenaline) wore off… I was more productive, less stressed, and finally had time to breathe. It was a game-changer that shattered my preconceived notions about the hustle culture.

This doesn't mean you need to do the same... but hopefully you can identify areas of your own worklife that need to be changed through brute force too.

What you have to gain

I’ve spoken with hundreds of founders and there are a number of repeating themes that I’ve identified… which have similarities to the stories of some of the most successful entrepreneurs in history. Here are the top five benefits:

1. Maintaining Perspective and Strategic FocusFounders need to maintain a strategic perspective and focus on the bigger picture to steer their company toward long-term success. Working fewer hours allows founders the mental space to step back, assess the direction of their company, and make strategic decisions. When founders are bogged down in day-to-day tasks, they risk losing sight of their overarching goals and may become mired in the minutiae of operations.Consider the case of Steve Jobs, who famously emphasized the importance of focus and simplicity. Jobs understood that innovation required time for reflection and vision, which is why he prioritized periods of deep work and contemplation.Want to learn more about deep work? In "Deep Work: Rules for Focused Success in a Distracted World", Cal Newport provides valuable insights into how individuals can create structured environments conducive to deep, meaningful work. Newport argues that sustained, undistracted focus is essential for producing high-quality work and achieving professional success. Well worth a read!
2. Promoting Innovation and CreativityCreativity flourishes in an environment of freedom and relaxation, where individuals have the mental space to explore new ideas and think outside the box. By working fewer hours, founders create opportunities for themselves to engage in deep, uninterrupted thought and exploration. This can lead to breakthrough innovations and creative solutions to complex problems.Look no further than the story of Nikola Tesla, whose groundbreaking inventions were often conceived during periods of solitude and reflection. Tesla's ability to disconnect from the daily grind allowed him to tap into his creativity and push the boundaries of science and technology.
3. Fostering a Healthy Work CultureFounders set the tone for their company culture, and a healthy work-life balance is essential for employee well-being and morale. When founders prioritize their own well-being and model healthy work habits, it sends a powerful message to their team members. It creates a culture where employees feel valued, respected, and encouraged to prioritise their own work-life balance.Take the case of Buffer, a company known for its commitment to remote work and flexible schedules. Founder Joel Gascoigne's emphasis on work-life balance has not only attracted top talent but also contributed to Buffer's reputation as a great place to work.
4. Avoiding Burnout and Mental ExhaustionContinuous overwork leads to burnout, diminishing productivity, creativity, and overall well-being. Founders who work excessive hours risk burning out, which can have serious consequences for both their personal and professional lives. Burnout not only affects productivity but also takes a toll on physical and mental health, leading to increased absenteeism, turnover, and reduced job satisfaction.As mentioned earlier, Rand Fishkin's candid account of his struggles with depression and burnout serves as a poignant reminder of the dangers of overwork. Fishkin's experience highlights the importance of prioritizing self-care and setting boundaries to prevent burnout before it's too late.
5. Encouraging Delegation and EmpowermentEffective delegation is key to scaling a business and empowering team members to take ownership of their work. By working fewer hours, founders are forced to delegate tasks and responsibilities to their team members, empowering them to grow and develop professionally. This not only relieves the founder of unnecessary burdens but also fosters a sense of trust, autonomy, and accountability among team members.Consider the transformation of Tim Ferriss, author of "The 4-Hour Workweek." Ferriss realized that by delegating tasks and focusing on high-impact activities, he could achieve greater results with less effort. His journey serves as a testament to the power of effective delegation and strategic focus.

Easy to say, hard to do

Here's the thing: as founders, we're pros at creating Standard Operating Procedures (SOPs) for our teams. But who's looking out for us? Spoiler alert: nobody. It's time to flip the script and create an SOP for yourself. Map out your workflow, identify bottlenecks, and streamline your processes like a well-oiled machine. Remember, efficiency is the name of the game.

And to put theory into practice - Here's a short exercise you can do to if you want to get started:

Exercise: Founder Freedom Audit

Plan out your week ahead and take a photo / screenshot of what you expect the days to look like. At the end of each day record what actually happened. Take note of where time was spent, what was achieved and what the benefit was. If you can't identify a distinct benefit, there's your first clue.

At the end of the week take a good hard look at your notes on the planned schedule and reality. Ask yourself: did you truly prioritize your time and defend the space needed for your biggest projects? Identify one or two tasks or commitments that drained your energy and ask yourself if they were worth it. Next time these come up you might be a bit more wary.

Repeat the process weekly and you’ll be amazed at how much free time naturally shows up just by saying no more often! Before you start to delegate, automate and outsource - simply become aware of where time is spent. It will do wonders.

Remember - it's time to bust the hustle culture myth once and for all. Working less as a founder isn't about being lazy—it's about working smarter and cultivating an environment where innovation, creativity, and well-being thrive. By prioritising strategic focus, fostering a healthy work culture, and avoiding burnout, founders can lead their companies to greater heights while also prioritizing their own well-being and fulfillment.

Sources:

• Harvard Business Review, "Manage Your Energy, Not Your Time" by Tony Schwartz and Catherine McCarthy
• Stanford Article - The relationship between work hours and productivity: https://cs.stanford.edu/people/eroberts/cs181/projects/crunchmode/econ-hours-productivity.html
• Rand Fishkin's blog post: https://sparktoro.com/blog/long-ugly-year-depression-thats-finally-fading/