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If you are an entrepreneur who is suffering through lots of sleepless
nights, whose marriage is on the rocks and who hates everything about
your business, you aren't likely to be found among truly successful Utah
entrepreneurs.
These are some of the conclusions of a recent survey of more than
100 of Utah's leading entrepreneurs. According to the study, Utah entrepreneurs
have low divorce
rates, high levels of job satisfaction and no trouble sleeping six hours or more
per night.
Forty interdisciplinary BYU students who were part of a course
offered to non-business majors by the Marriott School of Business conducted
the research. The class,
basic entrepreneur skills for the non-business major, includes students seeking
degrees in disciplines as diverse as photography, exercise science, German and
microbiology. They took on the role of myth-busters after reading "The E-Myth
Revisited," by Michael Gerber, one of three texts required in the pass/fail
class.
This eclectic band of students contacted successful entrepreneurs who
were identified by the MountainWest Venture Group as the founders of
the 100 fastest-growing
companies in Utah. The students also surveyed the Utah Valley Entrepreneurial
Forum's "25 under 5" category of business owners, which includes
25 entrepreneurs who are running highly successful companies and have been
in business
five years or fewer.
Some of the subjects explored in the survey concerned the importance of higher
education, personal happiness levels and the value of goal-setting.
While many in the academic world feel that additional education might
dampen entrepreneurial fever or passion, the research shows that 62 percent
of those
surveyed feel it is desirable to have at least a master's degree as preparation
for a career as an entrepreneur. Seventy-six percent of those surveyed
had a bachelor's degree or higher, and they received better than average
grades — 88
percent had a B average or higher, while none had a GPA below 2.0 (thankfully,
I wasn't among those surveyed or I would have brought the average down).
Divorce was extremely low among the respondents; 83 percent are married,
with only 13 percent single, and a mere 4 percent were divorced. Those
who were divorced said the business had little effect on their marriage
(we didn't poll the former spouses to see if they would agree). |