Small Business Resources
Sleep = success for successful small business owners
4 min read
Sleep is the most important part of being successful in business
A lack of sleep is destroying our brains, our health and most certainly our businesses far more than we ever suspected.
Bold statement? Probably not bold enough now that we have more refined knowledge of the power of sleep and the starkly negative consequences of missing it.
Lets start plainly – you need 7-9 hours of sleep per night almost without exception.
Some of you might think in your ‘sleep machismo’ that you are immune and need less sleep. You are not. Your subjective sense of how well you’re doing under conditions of sleep deprivation is a miserable predictor of, objectively, how you actually are doing.
7-9 hours are non negotiable
Only recently through the work of people like Matthew Walker, professor of neuroscience and psychology at the University of California, have we discovered just how much sleep matters, and how utterly reliable the data derived from decades of international study really is.
“Sleep is the greatest legal performance enhancing drug that most people are probably neglecting”
We have known for decades that good quality and good length sleep improves cognition, reduces stress, improves health, boosts creativity, wards off cancer and aids problem solving.
It is now seen as imperative to get 7 hours at the very, very least to remain competent and healthy with 7-9 hours marking the ideal.
The sleep deprived brain is not pretty
As Walker says,
“No aspect of our biology is left unscathed by sleep deprivation,”
The proof is right there from decades of research.
Let’s look at what happens when we try to sleep less than 6 hours a day, keeping in mind that almost 50% of people studied attempt to do so:
- Poor attention, concentration, and low creativity.
- Significant memory issues.
- 60% increase in probability of injury.
- Increased stress, confusion and irritability.
- A major predictor of “all cause mortality” including cancer, alzheimers, heart disease, stroke, diabetes, depression, and suicide.
- Hormone imbalances and weight gain.
“Every key facet required for business success will fail when sleep becomes short within an organisation.”
So please don’t fall into the trap of believing sleep is laziness or a waste of time – in fact it is the single most important thing you can do with your time, if you intend to be even close to 100%.
“We have stigmatised sleep with the label of laziness. We want to seem busy, and one way we express that is by proclaiming how little sleep we’re getting. It’s a badge of honour.”
You wouldn’t run your business drunk – but you are likely doing something worse when you sleep less than 7 hours a night. If you wouldn’t drink whisky while you work, then don’t work underslept.
Under sleeping renders you more useless than you realise at keeping your business together. This of course extends to your employees:
“Under-slept employees are not going to drive your business forward with productive innovation. Like a group of people riding stationary exercise bikes, everyone looks like they are pedalling, but the scenery never changes.- Matthew Walker”
Our small business research
We recently highlighted some of these business aspects in our recent research of 1300 businesses. To stay on top of their admin, payroll and compliance requirements, respondents are willing to make a number of sacrifices at the expense of their health and wellbeing.
84 per cent of small business leaders said they would make a lifestyle sacrifice because of admin workload or requirements, with 50 per cent specifically saying they would sacrifice their wellbeing, including sleep.
The In the Zone research also revealed that the average small business owner gets approximately 4.5 hours sleep per night, far less than the recommended 7-9 hours . 13 per cent of respondents even say they do their admin and payroll before 6am.
“Health and wellbeing is a huge cultural conversation, but unfortunately it seems small business owners are not heeding advice, or simply not able to due to the demands placed on them, which is a real concern,” said Gopal.
Small business leader and Managing Director at T.E.C.K.nology Indigenous Corporation, Leslie Lowe, explains that the pressures of running a small business can make it difficult to create a work-life balance.
“Running your own business can be incredibly stressful. There have been a number of times when I found myself prioritising work over health and wellbeing, such as skipping on sleep, when the everyday demands of sustaining a profitable business and admin pressures build up. To stay on top of emails, admin and compliance reporting, I’m often up at 4am to make an early start on the day,” said Lowe.
Hot Tip: If you are like Lowe, try scheduling sleep! Actually set an alarm half an hour before you should be asleep. Try it out.