Tips for Small-Business Owners on Riding Out Financial Stress
As a small-business owner, you have to wear many hats and bear heavy responsibilities. Ultimately, the success or failure of your venture comes down to how well you manage, delegate, attract new business, and handle finances. Finances are a huge stress for any business, big or small, and it’s important that you manage your stress levels and quality of life through it all. That’s difficult when there’s an endless array of tasks and details to tend to every day, and important matters like diet, exercise, sleep, and stress management are apt to fall by the wayside. It’s important to provide for your own care despite the chaotic nature of your role and the responsibilities that are on your shoulders.
Automation is your friend
Technology has made it possible to automate many of the functions that take up your precious time. Online employee scheduling and accounting software can help with many of the functions that need to be carried out every day. You can also use automated technology to monitor your company’s online profile and reputation and tailor your marketing efforts accordingly. Social media, blog, and online content can be automatically scheduled and placed for you when you’re away from the office.
Make time for exercise
Physical activity is good for your mental state as well as your physical condition. Make time to get at least 30 minutes of exercise every day, even if it’s just running or walking up the stairs to the office. Or you can invest in a set of free weights you can easily use at home or the office. The great thing about exercise is that it’s energizing, not tiring, and it makes you feel alert and optimistic by activating endorphins, pleasure-inducing neurotransmitters in the brain. Regular exercise can provide the daily boost you need to meet the challenges of running a business and ride out the financial ups and downs.
Getting away may seem completely unrealistic considering how busy your company keeps you. But it’s important to take a break now and then and take a few days off. Studies have shown that employees are happier and more productive at work when they take their available vacation time. You may be the business owner, but the same goes for you. Replenishing your mental batteries is important for everyone’s ability to cope with day-to-day stresses and maintain productivity. It’s understandable that you, as a small-business owner, may want to avoid being away from the office considering that you’re heavily invested in the success of your venture. But consider the costs of being fatigued and not as mentally alert as you should be as you grow your business. That’s why you need to take a break.
Get your sleep
You’re up early and staying at the office late most days trying to make sure your business maintains its momentum. Consequently, you’re probably not getting the seven to nine hours of sleep that experts recommend. Bear in mind that this is a dangerous trend. Sleep is regenerating and healing. Your body needs it to fend off illness and restore cellular health. Sleep deprivation is a common reason for inattentiveness and an inability to concentrate during the work day, when you need it most.
Meditation is an excellent way for a busy individual to relax, process thoughts, and reduce stress. People who meditate on a regular basis benefit from lower blood pressure, improved concentration, and improved cardiovascular health. Best of all, you can do it just about anywhere, and it won’t take too much time out of your busy day.
Reduce financial stress
Worrying about covering expenses is a common concern among small-business owners. A small-business loan can also do a lot to alleviate your financial stress. Consider a term loan, business line of credit, SBA loan, or invoice financing to help make ends meet so you don’t have to sweat it out while you’re getting everything up and running.
Try to remember why you went into business for yourself: to make a happier life for you and your family and achieve financial independence. Sacrificing your mental and physical health along the way makes little sense if it constrains you from achieving your goals, so pay close attention to your health and well-being.
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