Starting a business can take drive and determination, so it’s not surprising that the so-called “hustle” has become a buzzword among some entrepreneurs. The notion is characterised by hard work and a desire to succeed, with entrepreneurs often required to hustle for business.
But while these are generally constructive traits, there can be a downside to hustle culture if they are taken too far. For example, when an “always on” work mentality leads to chronic overworking, and burning ambition turns into burnout. Those running a small- to medium-size enterprise (SME) – many of whom are pursuing their own passion – can find themselves susceptible to what Barclaycard Payments describes as “toxic hustle culture”.
New research by Barclaycard Payments shows that more than one in 10 people running UK SMEs (13%) work between 50 and 70 hours a week, with 80% saying they have continued working when sick. A worrying 29% report that an employee has left due to burnout and stress. Add to that a 60% majority who say they almost always or often feel exhausted and drained from work, and it’s easy to see how these behaviours and outcomes – all symptomatic of toxic hustle culture – can negatively impact businesses and their employees.
“We know that in a small business hustling is almost inevitable,” says Colin O’Flaherty, head of SME at Barclaycard Payments. “In and of itself, hustle isn’t a bad thing: 73% of SMEs said they like to hustle. It can be a badge of honour, representative of passion, drive and ambition, doing whatever it takes to succeed. But when this culture turns toxic, it costs the UK economy billions every year.”
This is due to knock-on impacts such as a lack of focus within a business, unclear goal-setting, reduced productivity and an unhappy workforce. And these have material consequences – almost three-quarters (71%) of investors confirm they wouldn’t invest in a company that had a problematic workplace culture, while research by WPI Economics found that unhappy staff cost the economy £11bn a year in lost productivity.
For business owners, a crucial lesson is finding the balance between working hard, but not overdoing it. Thalia Shaw started her decorative lighting company, Sparkle Lighting, nearly five years ago. While she loves pushing herself, spending every moment she can “learning and reading”, she also recognises the importance of switching off.
Thalia Shaw
“I have a family to juggle so I can’t just work all day every day, which is probably good because it naturally stops me from working and working,” she says. “But at the start, I got to the point quite often where, by the end of the day, I was tired and frazzled, and I wasn’t getting out of the house, basically.”
Comparing yourself to others can intensify the pressure to hustle. “My business is an e-commerce store and there are loads of stories about people who have grown their businesses really quickly, and it does affect you,” she says. While that kind of meteoric success isn’t always sustainable, it’s still hard not to compare yourself, she adds.
For entrepreneurs wanting to make a success of their business, while at the same time maintaining a healthy work life balance, support is out there. Barclaycard Payments has partnered with Mastercard’s Strive UK programme and Digital Boost, a free support platform, to offer programmes that include free one-to-one mentoring, tips and tools, and exclusive masterclasses, plus a new tool to help small business owners understand their own relationship to “the hustle” and access free support. The tool can be used by anyone, and the resources are designed to help aid productivity, workplace culture and goal setting.
The aim is to help business owners increase efficiency and productivity by working smarter rather than putting in longer hours. There is emphasis on building healthy routines, promoting wellbeing and creating a great culture – moving away from the glamorisation of long hours, skipping meals, and lack of sleep.
Colin O’Flaherty
“It’s important for us to shine a light on the cost of toxic hustle culture and support SMEs to spot the red flags, before it becomes damaging,” says O’Flaherty. “With a healthy plan, we can help these business owners stay on the right side of the hustle.”
Shaw has had regular sessions through Strive UK and Digital Boost which have helped her set a robust business plan, get on top of her figures with a profit and loss account, and learn more about the “constantly changing” world of digital marketing. She has received plenty of mentoring and now has a mini board made up of cross-industry experts.
Other things that have helped include setting boundaries, and using a virtual personal assistant and a freelance team to support her with social and internet ads, email campaigns and admin. She aims to take two or three holidays a year – something she feels is really necessary for her and her family. “I also try to walk every day now just to get fresh air and exercise,” she says.
“Ultimately,” says O’Flaherty, “at Barclaycard Payments, we want to raise awareness of the brilliant resources that SMEs can access to encourage a more positive hustle – one that works smarter, not longer – and in turn helps your business grow.”
