Mental health issues run in the family. According to one study, entrepreneurs are much more likely to face mental health problems – both directly and in their broader family. Sufferers of bipolar disorder, ADHD, and OCD are all more likely to go solo.
number of professional roles were more likely to become entrepreneurs. Indeed, just 3% of those that held fewer than 3 professional roles became entrepreneurs, compared to nearly 30% of those that served in over 16 different positions. Interestingly, moving between organizations decreased the probability of becoming an entrepreneur – the most likely to become founders took on multiple roles within the same organization. As Lazear explains, “It is not the case that entrepreneurs are those who cannot sit still.” Lazear (2005)
Knitting communities aren’t usually perceived to be breeding grounds for entrepreneurship. However, Hyejun Kim’s 2018 paper unpacks an intriguing aspect of the transition to self-employment: the importance of an offline network. (It also seems to be a favorite of Patrick Collison’s.) To conduct her research, Kim reviewed data from 403,199 knitters active on Ravelry, known as the “Facebook of knitters.” Kim found that those who became entrepreneurs – individuals who made and sold original knitting patterns – tended to have undertaken more knitting projects across a range of product categorie
The most compelling part of Kim’s work relates to “entrepreneurial transitions.” Among participants with equal abilities, why do only some go on to sell their own products? The primary reason seems to be encouragement. The praise of fellow knitters, family, and friends can prove a vital catalyzing factor, even from sources with no knitting experience
It’s interesting to juxtapose these findings with Lazear’s view of entrepreneurs as generalists. Those who start businesses of their own may be well-rounded but not necessarily well-balanced. The creativity, persistence, and self-belief associated with these disorders come at a cost
