A lot of stress and anxiety comes with owning a small business. You need to please customers, keep employees productive and content, and make sure the business brings in enough money to pay its bills and, hopefully, earn you a decent income.
Here are suggestions on how you can cope with the stresses small business owners face.
1. The first step is to manage your expenses and pay your bills on time.
Develop a budget and do not spend more than what you make. Also learn to reduce your expenses when you can. Learn to pay your bills on a regular basis so your vendors and subcontractors will not be bothering you later on about getting paid.
2. Learn to manage your responsibilities by assigning certain tasks to others.
If you do not have time to do the accounting, then teach your assistant how to do it. You are only one person and can only do so much in a given day. Do what is most important and delegate the rest.
3. Pace yourself.
When facing a project that overwhelms you with anxiety, divide it into a series of smaller steps and then complete each of the smaller tasks one at a time. Completing these smaller tasks will make the stress more manageable and increases your chances of success.
4. Sometimes, we get stressed when everything happens all at once.
When this happens, take a deep breath and try to find something to do for a few minutes to get your mind off the problem. You could take a walk, listen to some music, read the newspaper or do an activity that clears your head and gives you a fresh perspective on things.
5. Talk with your customers and employees on a regular basis.
Find out what is on their minds. Ask for any suggestions on how to improve business productivity and moral. Communicating with your workers and clients will help prevent future problems and conflicts.
6. Challenge your negative thinking with positive statements and realistic thinking.
When encountering thoughts that make you fearful or depressed, challenge those thoughts by asking yourself questions that will maintain objectivity and common sense.
7. Develop a business plan and follow it.
Being organized and goal oriented is very important in managing a business. Following a plan or set of goals will prevent a lot of stress and anxiety. It is much easier to do something when you have some kind of plan.
Stan Popovich is a Penn State graduate and the nationally known anxiety author of “A Layman’s Guide to Managing Fear”— an easy-to-read overcoming anxiety book that’s helped thousands of people to confidently manage their persistent fears and anxieties. Stan has over 20 years of personal experience in dealing with fear and anxiety. For more free mental health advice visit Stan’s website at managingfear.com and read Stan’s articles and his blog. The above is not intended to be a substitute for professional medical advice, diagnosis, or treatment. Mr. Popovich is not a medical professional. Always seek the advice of your physician or other qualified health providers with any questions you may have regarding a medical condition. Never disregard professional medical advice or delay in seeking it because of something you have read here.