Is it best to be single for your business?
Earlier studies showed that the stereotypical image of the single, free-wheeling entrepreneur is not the norm. Almost 70% of all business owners were married at the time they started their entrepreneurship venture. More than 50% even had their first child already!
This begs the question: what is best for the entrepreneur, being single or married?
Let’s take a look at three aspects that you will have in your entrepreneurial life. We will discuss whether being single or married is best for these particular aspects.
It’s obvious that single entrepreneurs have an advantage here.
Being single as an entrepreneur gives you the benefit of not having to stress about making it home on time to be there for your partner. As a single entrepreneur you can easily attend networking events and other entrepreneurial gigs in the evening. You probably won’t be doing that as easily or frequently when you are married and someone is waiting at home for you.
If your business requires you to travel a lot then the single entrepreneur has the advantage – again. It gives a significant edge if you can easily hop on the plane whenever you need in order to grow your business.
It’s 1-0 for the single entrepreneur, but when we add work-life balance to the equation the score evens out.
The winners here are the married entrepreneurs.
For single entrepreneurs it can be hard to “switch off” after a hard day of work. The married entrepreneur can depend on his or her family to help with the transition. Talking to your spouse or playing with your kids is a great way to shut off your working routine.
Married entrepreneurs might be more busy with questions like:
- Why am I doing this?
- What will this yield me in the long term?
These questions are actually beneficial as they can help any entrepreneur to keep a laser-like focus and get their priorities straight.
One of the downsides for married entrepreneurs might be the fact that they can worry if the time they spend with their family is unconstructive for their business. In other words, they can make themselves crazy by asking the question: “What if I would spend this time on my business, instead of spending it with my family?”
Single entrepreneurs might be a bit more spontaneous as they don’t have to plan their day. They can just hop in, get to work, and take some break when they feel like it. In the end this might create stress as there are no frequent breaks or intervals. A partner can help put things in perspective so that you decide it is indeed time to relax a bit before continuing work.
In conclusion, it takes more determination for a single entrepreneur to have good work-life balance.
Last, but not least: energy.
Once again the single entrepreneur has the advantage here. Single entrepreneurs have both more time and energy than their married counterparts.
Being able to spend more time and energy on your business will surely impact its success. But at what price?
Being in a loving relationship can give you sustainable energy that can act as fuel and motivation for years. When you feel optimistic and good, chances are that you will make better business decisions. A loving relationship can be a priceless refuge when you are building your business.
So both the single and married entrepreneurs have their own advantages as far as energy is concerned.
So the single entrepreneur who gets by with little sleep is not per se a better entrepreneur than their married counterpart. But fact remains that in terms of flexibility and energy they have a slight advantage over married entrepreneurs. These entrepreneurs on the other hand can receive a great amount of loving energy and support from their spouses. So, which is better than: being single or married?
To be honest, we cannot tell you. It is very much dependent upon what kind of entrepreneur you are and what kind of needs you have. Perhaps you like having someone that is there for you to support you when things get tough. On the other hand you might want to remain flexible and work long hours, without anyone interrupting you.
It is very personal and dependent upon your characteristics.
To top things off let’s end with a quote from Lady Gaga:
“Some women choose to follow men, and some women choose to follow their dreams. If you’re wondering which way to go, remember that your career will never wake up and tell you that it doesn’t love you anymore.”