Show me a business owner who's not stressed and we'll show you 49 who are...
Running a business is no walk in the park, with the majority of new owners trying desperately to keep their heads above water. It is possible to lower these stress levels and run a business effectively, and that's what we'll show you today.
Why Do Business Owners Get Stressed?
In order to manage stress, we first need to know what it looks like and what are the causes.
Signs of stress include:
- low or no energy
- headaches and sore necks
- upset stomach
- sore muscles
- often sick with colds
- loss or increase of appetite
For a business owner, leading causes of stress include:
- finances - not enough money, trouble managing cash flow, creating a budget and paying bills
- staffing - having to hire staff or contractors, plus managing and paying for staff
- administration - overwhelmed with paperwork
- industry compliance - not knowing about or having the skills to meet industry compliance
- clients and customers - customer service, complaints, finding time to support them
- websites - building, maintaining and creating content for a website
- taxes - knowing what and when to pay taxes, plus finding the money to do so
- time pressures - being super busy and having to or feeling like they have to do everything themselves
Let's learn about some of the ways we can manage stress.
5 Tips On Managing Stress As a Business Owner
Working long hours and having plenty of responsibilities can play havoc on the body and mind. When stressed, you are unable to perform at peak level, which as well as causing long term health issues, also lowers the quality of work you can do for your business. Stress management should ideally begin before you even become stressed, but is not often the case. Once you've noticed you are under some stress, it's important that you get on top of it right away. Here are five tips to help you lower those stress levels:
- Ask for help - no one can do everything alone. If you are struggling, ask for help! Business coaches, mentors, virtual assistants and even family may be able to help reduce your workload, or help you find better ways of doing things.
- Get active - you may not feel like it, but when stressed, getting active can really help you feel better. Take a walk, join a club or head to the gym. Getting out and about helps you clear your head and reduce the amount of stress your body feels.
- Delegate - whether this is outsourcing or giving work to a staff member, be sure that you share the load.
- Start saying no - it's perfectly fine not to do everything or be everything to everyone. Start saying no to things you don't want to do, are unable to do or know someone else could do.
- Take time to unplug - you don't need to be available 24/7. Set some clear boundaries as to the times and days you can be contacted for work, and stick with them! This may be turning off your phone and not heading to social media during those times.
For more advice on running a business, take a read through our great range of business related articles, all written specifically for NZ business owners!