By nature, entrepreneurs have an exceedingly strong passion for their work and companies. In order to succeed they often find themselves working especially long hours and in the process, dealing with the stress that invariably accompanies those hours.
Key Causes of Stress and Anxiety in Entrepreneurship
Being an entrepreneur is exhilarating and liberating, providing the potential for significant financial growth and the satisfaction of building something new and meaningful. But along the road to that success, entrepreneurs will invariably walk stressful stretches. Financial uncertainty, especially in the early years of a new endeavor, is one of the significant causes of stress for an entrepreneur. To that, add the weight of constant decision-making, managing diverse aspects of the business, like marketing, operations, and human resources, the need for continuous adaptation, plus the struggle to balance work and life outside of work. For an entrepreneur, managing stress becomes a necessary part of doing business.
Top 5 Practical Strategies for Stress Management in Entrepreneurship
To manage stress as an entrepreneur it’s important to make a point of doing everything you can to anticipate possible difficulties that may arise on your path, then be ready with solutions should those difficulties arise.
2. Surround Yourself with The Right People:
To help distribute the weight of responsibilities and obligations, learn to delegate. Do not hesitate to rely on employees of the company to take on appropriate parts of your workload. You can also call on other professionals to help, such as an accountant or specialized organizations (chamber of commerce, incubators, etc.).
Another amazing source of inspiration, encouragement and assistance are networking events. These events are a venue to share your difficulties with other entrepreneurs and obtain their objective points of view. Some of the people you interact with can probably think of solutions that you haven’t imagined!
3. Practice Relaxation
Ensuring you carve out time to relax is essential for relieving or at least managing the stress and anxiety inherent in being an entrepreneur. Try breathing exercises, yoga sessions, or even Pilates as a means to a relaxed body and mind. Exercise and relaxation techniques are an excellent buffer against the harmful effects of stress.
4. Schedule Time For Hobbies
An entrepreneur often discounts the importance of down time. Fitting hobbies or cultural pursuits into your schedule not only benefits the body and spirit, it also mitigates stress. Sporting, artistic, cultural, or manual activities all fit the bill. Having interests other than your business helps protect you from professional stress and keeps burnout at bay.
5. Have a Healthy Lifestyle
There is nothing better than a healthy lifestyle to protect your body and your brain from the ravages of stress. As mentioned earlier, sport can contribute to this healthy lifestyle, but it doesn’t stop with exercise. Follow that up with a varied and healthy diet and a good night’s sleep. Eliminate excessive stimulants such as tobacco, coffee, and alcohol. Although stimulants may seem to manage stress and anxiety, in the long run they will only contribute to the problems, so should be limited or completely banned from your daily life.
Running a profitable and organized business takes work. By applying these tips for stress management in entrepreneurship, you can put anxiety behind you and dedicate your precious time to creating a business you can be proud of.