Biznik entrepreneur survey results: happiness matters
I’m in New York this week, along with a representative from iStockphoto, sharing the results of Biznik’s member survey with the media. The results are fascinating! We’re making a summary of the entire survey available for anyone whose interested at http://tinyurl.com/ybt7lbg.
The most significant news, in my view: 33 percent of you said that the most important reason you started your business is because you wanted to do something that you enjoyed! The fact that personal satisfaction ranked so highly caught us by surprise - we were expecting the number one reason to be “because I don’t want to work for someone else,” (which other studies have consistently shown to be the top reason for business formation) but that came in second with 26 percent. And this might be news to anyone who thinks entrepreneurs do it for the money: Just 5.8 percent listed that as their most important reason for starting a business.
The biggest challenges facing entrepreneurs? It’s three things:
1. Reduced income (44 percent)
2. Isolation (19 percent)
3. Long hours (15 percent)
4. Lack of access to health insurance (13 percent)
Speaking of health insurance, 91 percent of you said that health insurance must be reformed - 60 percent said reform should focus on a public option; 36 percent said focus should be on private options. And 20 percent of respondents have NO HEALTH INSURANCE at all - which shows entrepreneurs need health reform even more than the general public (which most estimates put at 15 percent lacking coverage of any kind).
Despite the challenges, you are happy with your choice to build a business. In fact, 91 percent of you are “very satisfied” (70 percent) or “somewhat satisfied” (21 percent). Only 1 person out of the nearly 700 respondents reported they were “very dissatisfied” with their choice to start a business. Growing a business is hard work, but we’re thrilled to learn that you believe it really is worth the effort!
Full summary is up at http://tinyurl.com/ybt7lbg.
November 6th, 2009 at 4:50 pm
Dan,
I found the survey fascinating and plan to give it a thorough study. Some of the responses were not what I would have expected from the Biznik population. Hopefully I’ll have some time this weekend to digest it and write an article.