Owning your own business is the ultimate American dream, right? If you are like most people, you might think of owning your own business as a chance to be your own boss, work on your time, on your terms, doing something you are passionate about. Although there are lots of advantages to owning your own business, it’s easy to get caught up in a hard-working cycle that perpetuates stress. This stress gone unchecked can become so bad that it starts making your life miserable. The stress can also start to trickle down to your employees and your customers and clients. So I’ve come up with 10 tips to help you manage the unique kind of stress that comes with being a business owner.
Owning Your Own Business Means You are the Boss. Limit Your Work Week.
It isn’t unusually for business owners to work 50, 60, 70 and even 80 hours or more per week. Limiting your work to 40 hours and a maximum of 50 can dramatically reduce your stress and help you be more productive.
Schedule Vacation Time.
Put it in the schedule so you are sure to take it and you have something to look forward to.
Emergencies Only, Please!
When you’re not at work let your staff know that you aren’t working and instruct them to contact you only when it’s an emergency. Too many business owners stay on-call with their staff and never get a good chance to unwind.
Owning Your Own Business Can Make it Difficult to Unplug.
Limit your time on phones, computers, tv’s and other electronic devices when you aren’t working, you’ll feel better and more relaxed.
When people are really busy, exercise is often one of the first things to go. “I just don’t have time, I’m too busy”, is the mantra, but daily exercise will not only help keep you strong and healthy so you can operate your business, it will help you be happier and have a more positive outlook.
A poor diet will leave you feeling sluggish and tired, but when we get stressed it’s easy to reach for sugar and junk food. You’ll feel less stress if you eat a healthy diet.
Sleep 7-8 Hours Per Night
Getting the rest you need every day will help you feel less stress, more efficient and have a more positive outlook.
Hire the Best.
Hire the best people you can afford and trust their expertise.
Delegate as much as you can to competent people. Owning your own business doesn’t mean doing everything yourself. If you insist on micro-manage your employees, you’ll find yourself spinning in no time and will never keep ahead of the number of tasks it takes to operate a business.
Keep Cash Reserves.
The number one stressor for owning your own business is managing their cash flow. Always be careful to keep cash reserves ready for unexpected opportunities and challenges. Before your reserves start to dwindle, secure a Line of Credit you can access when you need it.