Measuring Psychological Wellbeing of Entrepreneurial Success – An Analytical Study

Abstract

Measuring psychological wellbeing of entrepreneurial success is an area of growing interest in the field of entrepreneurship research. While traditional measures of entrepreneurial success have focused on financial metrics such as revenue and profit, there is increasing recognition of the importance of psychological wellbeing for entrepreneurs. Psychological wellbeing refers to an individual's overall sense of satisfaction and happiness with their life, including their sense of purpose, meaning, and engagement. Research has shown that psychological wellbeing is an important predictor of entrepreneurial success, as it can affect an entrepreneur's ability to cope with stress, make sound decisions, and maintain focus and motivation. In addition, psychological wellbeing has been linked to physical health & better relationships, and higher levels of creativity and innovation. As a result, there is growing interest in developing measures of psychological wellbeing that are specifically tailored to the needs of entrepreneurs. These measures aim to capture the unique challenges and experiences of entrepreneurship, including the need for resilience, adaptability, and risk-taking.