Podium Presentation - 10 minutes International Positive Psychology Association 8th IPPA World Congress 2023

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

Aaron Marcum 1
  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. 

  1. 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
  2. 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
  3. 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
  4. 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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