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5 ways to manage your stress as a business owner

There are many perks to being a business owner, and probably the reason you took the plunge and entered the business world. We’ve come up with five ways to manage your stress as a business owner. Keep reading to find out more. 

Identify what is working for you as the business owner and the business

Before you delve into the things that stress you out, first, make a list of everything you are doing right for your business. Consider your strengths as an individual, and if you have employees, make a list of their top skills. This will also assist with the inventory of the skills you have on hand, and it will be easier to identify the areas that need extra attention and work. Starting the process with the positives of your business will help keep you in a positive state of mind. This means you will be thinking clearly when addressing your stress points. 

Identify what makes you stressed out

Once you’ve identified the things that you and your team are good at, it is time to look for those trigger points. Is a customer or particular client making you feel a certain way? If this is the case, consider whether it is worth continuing the working relationship with them. Does the behaviour of your employees stress you out? Think about ways to communicate this respectfully because they may be unaware of it! 

Prioritise your time/Create a schedule

Planning helps keep us accountable for our tasks. Keeping this in mind, create a schedule for the week. Time-blocking can be very helpful, and starting the day with the most important tasks is usually the way to go. If you have to attend meetings, make sure there is at least a 10-minute break in between so you have the chance to digest it before entering the next one. As a small business owner, it is important to schedule free time or if you decide to finish work at 5pm, stick to it. If you burn yourself out, your business will suffer in the long run. 

Learn how to say no

How many of us are people pleasers? Learning to say no is a very important skill to develop as you progress on your entrepreneurial journey. Your time is valuable, so you must make the most of it. Saying yes to everything can be hard to resist at the beginning of your journey because you are looking for the next opportunity and growth; however, as you move into a steady set of clients, it’s only possible to please everyone if you are adequately resourced. If your client requires more, be sure to address the change of scope and a delivery plan so that all parties’ expectations are being met.

Outsource your work

We know this is also a touchy subject, but outsourcing your work can be the best decision for the business. Organisations such as The Small Business Lounge have a team of finance, business advisory and marketing experts. By choosing to outsource tasks to companies like ours, you now have access a larger bank of resources instead of trying to ‘do it all yourself’ or hire someone new. Letting go of that ‘control’ factor is not easy, especially when you have built the business from the ground, but learning to trust other people to bring your vision even further to life is exciting. Think of it this way; you now have a team of professionals cheering you on, wanting to see you and your business succeed!

We are exclusive partners with Bankwest providing support for small business, webinars and exclusive offers for Bankwest customers.