You are the key element in your new business that is why managing stress whilst growing your business is a vital tool you need to have. Starting a new business is like taking a leap into the unknown, and you can find yourself trying to juggle many tasks at one go. If you are rushing from one job to the next, you may get overwhelmed quickly, causing your mental health to suffer. Burnout often happens within the first three years of business, but it can be prevented. Here are some tips on how you can manage the stress of growing your business.
Create a work-life balance
When you are working in a normal 9-5 job, you finish at 5, head home and switch off for the night (well most people do). However, when it comes to running your own business, you will find that you never fully switch off. There will always be things running around your head, and to-do lists as long as your arm. It is really important that you try and have a cut off in the evening where you stop working. Some ways in which you can manage your stress levels include:
Stop burning the candles at both ends
Sleep is more important than you probably realise. You can’t function productively if your brain is not rested and refreshed. This will in turn lead to you making poor business decisions. Remember although you are trying to be a successful business person, your phone doesn’t have to be glued to you at all times. Try switching it off for an hour before you go to bed, allowing you to relax properly.
Manage your time effectively
If you are running a chaotic schedule, you are more likely to become stressed. Make sure you pencil in time for regular breaks and activities that you enjoy. Maximise your productivity by making every second count. To-do lists are a great way to prioritise your workload, and you will find it very motivating when you cross them off once they are done!
Outsource non-income generating tasks
The whole point of being an entrepreneur is to sell the products or services that you enjoy. When starting up a business, you forget about the extra administrative tasks, and you will soon find yourself being a PA, accountant, salesperson and wearing many other hats. Focus on carrying out those tasks that generate you income, and outsource everyday jobs which just take up too much of your time.
Using virtual office services
Delegating tasks is another way to manage a busy workload. If you are not at the stage where you can hire other members of staff to add to your team, you might want to consider a virtual office package. They can provide high levels of support, tailored to your individual needs.
A virtual office is a particularly good investment if you are struggling to find the time to make phone calls. With our services, we can take care of mail forwarding and mail handling for you, as well as answering calls in your business name. Leaving you with more time to focus on those projects which will bring in money.
You can say ‘No’
One other thing to remember is that you might need to add the word ‘No’ into your vocabulary. Whilst it may feel deflating turning down business opportunities, there are only so many hours in the day. You need to focus on doing a good job with your core tasks, rather than accepting everything and spreading yourself too thin.
We hope this has given you some useful pointers on how to manage stress. But remember managing stress whilst growing your business is as vital as managing your cash flow. Do let us know if you have any other coping mechanisms that we can add!