The entrepreneur model for flourishing - A model designed to keep entrepreneurs engaged, committed, and flourishing throughout their entrepreneurial journey

The entrepreneur model for flourishing - A model designed to keep entrepreneurs engaged, committed, and flourishing throughout their entrepreneurial journey

The entrepreneur model for flourishing - A model designed to keep entrepreneurs engaged, committed, and flourishing throughout their entrepreneurial journey (#130)

Aaron Marcum ¹

University of Penn, Rexburg, IDAHO, United States

Background

The entrepreneurial experience is not for the faint of heart. Due to the stress associated with starting a new business, it can challenge the well-being of even the best intended entrepreneur. The entrepreneurial life is often oversold as a fantasy storybook experience, which is usually not the case. Entrepreneurial burnout and stress results from pressures to perform, provide for others, and to fulfill their financial obligations (Shepherd, et al., 2010). A burned out entrepreneur often gives up too soon, even if their idea and product are well received, due to these factors. This negatively impacts not only their own well-being but the well-being of their families, employees, and community in which they operate. Furthermore, if the entrepreneur burns out too soon, their ideas and products never have a chance to make a positive impact.

Aims

The purpose of this presentation, is to help positive psychology practitioners, particularly those who work directly with entrepreneurs, understand the causes of entrepreneurial burnout and the six key psychological elements that help entrepreneurs flourish during their journey and avoid burning out too soon. These elements were inspired by The Psychological Well-Being (PWB) model first developed by the research of psychologist Carol Ryff (1989).

Method

Drawing upon Ryff's most recent research on the PWB model and its relationship to entrepreneurs (Ryff, 2019) (Shir & Ryff, 2021), Aaron will demonstrate the positive impact the six key elements of PWB model can have on the entrepreneur and why.

Results

Attendees will walk away with evidence based tools and resources that will better prepare them to coach and assist their entrepreneurial clients towards greater flourishing

Conclusion

Purpose in life, autonomy, positive relationships, environmental mastery, personal growth, and self-acceptance are the foundational elements of psychological well-being for the entrepreneur. If the entrepreneur can learn how to incorporate these principles in their daily life, their ability to flourish expands and their positive impact on the world will soar.

Ryff, C. D. (1989). Happiness is everything, or is it? Explorations on the meaning of psychological well-being. Journal of Personality and Social Psychology, 57(6), 1069–1081. https://doi.org/10.1037/0022-3514.57.6.1069
Ryff C. D. (2019). Entrepreneurship and Eudaimonic Well-Being: Five Venues for New Science. Journal of business venturing, 34(4), 646–663. Elsevier publishing. https://doi.org/10.1016/j.jbusvent.2018.09.003
Shir, N., & Ryff, C. D. (2021). Entrepreneurship, Self-Organization, and Eudaimonic Well-Being: A Dynamic Approach. Entrepreneurship Theory and Practice. https://doi.org/10.1177/10422587211013798
Shepherd, C. D., Marchisio, G., Morrish, S. C., Deacon, J. H., & Miles, M. P. (2010). Entrepreneurial Burnout: Exploring antecedents, dimensions and outcomes. Journal of Research in Marketing and Entrepreneurship, 12(1), 71–79. https://doi.org/10.1108/14715201011060894

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Authors contributing to this presentation.

Marcum, A

Aaron has been an entrepreneur for 20+ years now, starting and operating three successful companies. One home health agency (Arbor Senior Care), another a satisfaction management/analytics firm for the home care industry (Home Care Pulse, now the largest home care satisfaction firm in North America), and finally an Executive Leadership Coaching firm (VUE Advisors) that he currently owns and operates. Aaron is also a co-partner and Chairman of a thriving home care agency in Raleigh, NC, Golden Harmony. Since 2006, Aaron has been a sought after speaker, presenting at over 100 events on subjects ranging from leadership to the caregiver shortage crisis. Being involved with each of these businesses, particularly Home Care Pulse, has fueled his passion to help other entrepreneurs create sustainable flourishing lives for themselves and others. He recently finished his Masters of Applied Positive Psychology (MAPP) at the University of Penn with the desire to further his mission of helping entrepreneurs flourish, regardless of circumstances. Aaron is currently writing an exciting new book, in tandem with a national publisher, entitled EntreThrive, due to be released early 2024. The purpose of the book is to help entrepreneurs incorporate 8 laws to eliminating unhealthy stress, flourishing personally, and creating The Good Life for themselves. Aaron is the recipient of several leadership awards, including the Sheila McMackin Leadership Award, which recognizes one person per year, for outstanding leadership, impact and vision in the in-home care industry. Aaron is the proud father of 6 kids, has been married to his sweetheart since 1996, and loves to bike and explore the outdoors.

The entrepreneur model for flourishing - A model designed to keep entrepreneurs engaged, committed, and flourishing throughout their entrepreneurial journey (#130)

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