Stress management is probably one of the most important yet least talked about topics in the small business arena. It often feels that you need to just put up with it as stress just comes part in parcel with being an entrepreneur. If the business is booming, you experience stress from all the orders you are receiving, dealing with the clients, and getting the funding that you need to expand. Alternatively, if the business is slow, you are stressing about whether or not your company will recover and how you pay your bills. But stress is not the inevitable lot for the small business owner. The trick is to try to stay in the middle ground of avoiding the 16-hour days whilst still maintaining a steady revenue stream.
During busy periods, the feeling can be that there aren’t enough hours in the day to get everything done that you need to. If you are feeling this way, then you are probably taking on too much yourself. Part of the key to growing your business is sharing responsibilities and delegating work to others. Even something as simple as handing over your company bookkeeping or scheduling to an Executive Assistant is one less thing you have to think about, so you can focus on the big picture of running your business. What if there is only you? Then consider hiring a virtual assistant. The time you invest in delegating projects, so you can focus on steering the company will pay off much faster than you might think.
Most businesses though don’t experience relentless unending growth. Sooner or later, your business will hit a slower period, whether it is due to a seasonal or derives from a situation beyond your control. Small business owners naturally get stressed if they are experiencing a decline in business or customers. Utilise this downtime and turn it into an opportunity to work on the many projects that you’ve put on hold during the busier months. This may be an ideal time to put together some blog articles or review your marketing material or give your website a refresh. Reconnect with existing or past customers by reaching out to them with a thank you card or sending an email marketing campaign advertising sales or new offerings. Follow up with those leads that may have seemed promising but didn’t come to anything at the time. Attend events to network and reconnect with others in your industry. If you don’t have a clear idea of what to do to generate more business, it may be time to revisit your marketing strategy to figure out if you are targeting and attracting the right customers to your business.
Nothing can eliminate the anxiety associated with entrepreneurship out of the life of the small business owner but that is part of the challenge of why we do what we do. By its nature, entrepreneurship has its associated risks and all small business owners learn how to embrace it and take on the rollercoaster. However, learning how to be resilient and pull yourself back from the two extremes of over and under work, will ensure that you are able to weather the storm.