Running a business can be challenging. There are so many elements to keep tabs on… Staff, cash flow, marketing, invoicing, the list goes on. Day in day out, this can become exhausting. Managing this stress is a struggle for many small business owners.
Being your boss is no doubt exciting, you get to be in charge of running your business as you fit, but then there is a downside to this. The whole stress that comes with being in charge lies somewhat on your shoulder.
Stress can affect how well you respond to your customers and employees. In return, this can affect the business and its operations. Managing stress is therefore critical to being a successful business owner.
Check out these handy tips for managing small business stress.
Identify the key stressor
Now, you can’t offer a solution to a problem that is unknown. Identifying the critical factor behind your business stress is essential. The best way to figure out your stressors is taking a step back and looking at your business from an outside view. Assess your schedule, what your strengths are, weaknesses and any external issues affecting your stressors. Once you have identified the problem, then half of the equation is solved
If you know a particular task that gives you anxiety, you can build your mindset to be stronger before undertaking it. Taking 5-10 minutes out of your day can help you stop and regather your thoughts. Exercise and meditation can help you clear your mind. With incremental lifestyle changes, you can eventually build long term positive habits to deal with stress. In the long run, what matters is how you respond to what causes you the most stress.
Schedule your time properly
As a small business owner, it is extremely easy to get carried away and work round the clock. While that has its perks, it also means you aren’t paying attention to your mental health. The same way you schedule appointments for your business should be the same way you plan free time. Go out with family and friends. You would work better after taking a break, as this would help you see things from a different and creative perspective. It is crucial that you carve out time for yourself because your mental health should come first. If you become too stressed, you would in no time lose your business as well. You can’t work all the time as a robot, and expect yourself to function effectively.
Outsource excess work out
Even as a small business owner, you can’t expect yourself to handle the whole tasks involved in managing a business without breaking down. Depending on your businesses’ financial situation, it may be more feasible to outsource work to freelancers or virtual assistants. This can help alleviate business pressure, and you can allocate more time towards other business or even personal tasks.
It can be quite unnerving to let someone else do your work for you, but it is a foundation for business growth. Alternatively, learn to say no to customers when you have your hands full already. It can be quite tough to do, but it is for the best. That way, you don’t under-deliver to your partners, and you don’t overstress yourself.
A great way of managing small business stress is through prioritising. Getting everything is a concept that rarely exists in the business world. Figure out which tasks are more critical, and focus on them, that way you don’t have to think about too many things at the same time. Conclude one task before moving on to the next. The more you plan, the more you can achieve. Have a routine, which way you are in control, and you don’t go about just doing anything you can lay your hands on.
Tackle your more stressful and urgent tasks first. Get them out of the way and then progress to lower business impacting tasks. To do this, you need to be completely aware of the impact a task can have on your business. If your business is one that is physical in nature, make sure you are aware of your physical capabilities. The last thing you want to do is run yourself down. If you feel more energetic in the mornings, then it’s better you do the energy-consuming tasks then. But if you feel more energized in the afternoons then its best you leave the stressful jobs for afternoons. Either way, find a schedule that works for you.
Purge and unplug your brain
When a business is in its early stages, it is easy to become stressed when things are not falling in place, too many debts, lack of sales, so many thoughts keep running. Sometimes even when you want to sleep, your brain keeps going non-stop. At this point, you need to shut your mind down mentally. Stop answering calls, leave your emails and get your beauty sleep. Let there be a conflict between your business life and your personal life.
Many things help to alleviate stress for small business owners, find the ones which work best for you. Shape your mind on how to respond to stress and watch your business grow to great heights.