Being a small business owner can get incredibly stressful. You have to deal with all kinds of issues on a day-to-day basis, and wear many hats, which can quickly become overwhelming. That’s why stress management is especially important for entrepreneurs.
If you let stress and anxiety build up, it could end up impacting your work performance in various ways. Not only that, but this will also negatively impact your daily life as the stress of work will follow you home and affect your sleep, relationships, and overall health. Fortunately, there are some effective strategies to reduce stress and anxiety as an entrepreneur. Here are 6 of the best stress management tips for entrepreneurs.
1. Don’t Take On Too Much At Once
One of the biggest mistakes entrepreneurs make is to take on too much work at once. When you’re running a business, it’s easy to get into the habit of trying to accomplish as much work as possible to keep your business running smoothly. However, if you take on too much at once, it could end up impacting your work negatively.
For instance, freelancers who take on too many clients will find themselves bogged down with deadlines to the point they have to work around the clock to get everything done. Not only will this affect your ability to deliver the highest standard of work, but it also puts you at more risk of missing deadlines or leaving clients unsatisfied.
While working hard is always a great quality to have, remember to keep a sensible workload. You can still get more than enough done without overworking yourself, so schedule your work accordingly to give yourself time to breathe while still accomplishing your work goals regularly.
2. Delegate Tasks To Save Yourself Some Hassle
Another common cause of stress for entrepreneurs is having too many tasks to deal with. If you’re running a business, there are all kinds of things you need to consider from financial matters to marketing to communicating with clients. Instead of trying to handle everything else, you should delegate certain tasks to save yourself some hassle.
Many entrepreneurs manage their stress by hiring employees who can handle important tasks efficiently. However, another common approach is to outsource certain tasks to external companies. For example, you might want to save yourself some time and hassle by outsourcing your marketing to a professional marketing service. You can also outsource things like human resources, web development, and customer support.
Some entrepreneurs might feel like outsourcing or delegating important tasks gives them less control. However, on the contrary, it can help ensure that every task is handled to a high standard while also saving yourself a lot of time. Of course, this will also make you feel more optimistic and less stressed when you start work each day.
Automating tasks is a more affordable option than delegation. And let’s face it — there are many tasks that the right computer program can do even better than a human!
Here are some examples of simple automations:
- Creating E-mail templates for the messages you send most often
- Setting up bookkeeping software to automatically bill regular customers
- Using integrations to enter orders and payments automatically into your bookkeeping software
- Using your calendar to set up reminders for recurring tasks
- Using software like Asana or Trello to keep track of your team’s work
Some software packages are built specifically to automate tasks for specific types of business. ServiceWorks is a great example — it’s built for field service businesses, which means any business that has team members working in the field or visiting client locations.
ServiceWorks can run the entire back office of the operation. It can add online ordering to your website, optimize routes and schedules, stay in touch with clients, track inventory and warranties, and even accept the customer’s credit card for you. The package is priced affordably enough to work for a one-person operation, but is also built to scale with you as your business grows. Check it out with a 2-week free trial, no credit card needed.
4. Maintain A Good Work/Life Balance
Every entrepreneur wants their business to succeed and may end up working extra hours to ensure that’s the case. However, your work shouldn’t be the sole focus of your life. While hard work is important, it’s also important to have other hobbies and goals to focus on outside of work.
If all you do is work, it’s easy to end up overworked and extremely stressed. Not only will you be more stressed while you’re working, but you’ll be thinking about work even in your free time and you might end up having problems sleeping or problems maintaining a healthy relationship. As such, you should try to maintain a good work/life balance.
Make sure you give yourself plenty of time each day to destress, forget about work, and do something relaxing such as reading, gaming, or spending time with your family. Spending more time on things like exercise or meditation can also help reduce your stress levels. You’ll notice that, not only will you be less stressed, but you’ll also feel much more refreshed and focused when you start work each day.
5. Take Breaks When You Need Them
It’s important to take breaks when you’re working. Sitting at a desk doing the same task for hours on end isn’t good for your physical or mental health. Spending hours doing laborious tasks can be even more taxing. As such, make sure that you take regular breaks when you need them.
Taking a break for lunch each day will help, but you should also take short breaks throughout the day. For instance, after finishing a small task, consider going for a quick walk and grabbing a glass of water before returning to work. This will help you feel more refreshed and focused, which will have a positive impact on your work.
You should also take long-term breaks when you need them. Working throughout the year can be bad for your mental health, so consider taking a well-earned vacation for a few weeks to unwind and relax after accomplishing a major work goal. This will also help you come back to work with a renewed sense of focus.
6. Ask For Help With Financial Matters
One of the biggest contributors to stress for entrepreneurs is finances. You have to worry about all kinds of financial matters from handling your business funds to bookkeeping to filing taxes each year. Luckily, it’s easy to combat this problem by simply asking for help with financial matters.
Every business owner should outsource their accounting and bookkeeping to an experienced employee or even an accounting service. This can save you tons of stress as they’ll ensure your business keeps accurate records, handles finances appropriately, and files taxes on time.
You might even want to consider getting some financial advice from a business consulting service. They can give you advice on how to allocate your funds appropriately and how to cut costs to keep everything running smoothly in your business.
It’s easy to get stressed when you’re handling a business. Fortunately, there are many good strategies for reducing your stress. These are five of the best stress management tips for entrepreneurs, freelancers, and even employees. Use them in your daily life and you’ll soon notice you feel less stressed and more optimistic at work.