Running a small business, especially in Nigeria, has the potential to stress you out. Lack of sales, bad electricity, too much debt, issues with employees, problems with operations, etc. are some of the things that contribute to the stress in business.
Managing stress is essential as a business owner because typically, you are the sole proprietor or probably have few employees. This means that if anything happens to you, it will affect the growth of your business. So as a business owner, the sooner you learn small business stress management, the better.
Luckily, there are plenty of small business stress management techniques that will help remove the tension and anxiety of your work. Here are some of them;
Remember What Is Going Well
It is easy to focus on the things that are not going too well in your business as an entrepreneur. In a report by entrepreneur.com, entrepreneurs or small business owners become stressed when looking at all the things behind schedule, underfunded, or needing to be fixed.
However, when you focus on what is going right with your business, it instantly puts you in a positive mindset, making it much easier for you to manage stress. “Taking stock of things that have gone right helps you put into perspective the change you are affecting and the growth that you have achieved,” someone said. The feeling that you are making progress no matter how little is one of the best ways to relax your mind.
Focusing on the right things going on in your business also keeps your mind in the present. “When you’re stressed, your brain tells you that you have to stay vigilant,” says Drema Dial, psychologist and life coach. “Your brain goes into hyper-drive with all the things that could be going wrong, will go wrong, might have already gone wrong, and how you will fix it! That is one way our brain uses to keep us locked into familiar routines. Therefore, it is imperative to break this cycle, which keeps us chained to unhealthy coping behaviors and keeps your stress level high.”
Rank Your Tasks
As a small business owner, you would be expected to work on multiple things simultaneously, which can lead to a high level of stress. Experts say that one of the causes of stress in business is having so many things to work on that none eventually gets done. Even if you try to do a little bit of the task, you will only complete a few of them. Therefore, try to stay focused on a particular task or a small number of tasks at a time.
Prioritizing your task is the best way to know which of the task to start first. By working in order of most relevant to the least, you will relieve some pressure as you will have time to carry out the tasks in an appropriate order, and you will not have so much to deal with at once.
Build A Solid Structure
The more we plan, the less we have to anticipate what might happen continuously. We have a greater sense of self-efficiency in our ability to handle whatever comes up when we plan. Knowing what to expect gives you a sense of peace and control, making it easier to manage stress.
One effective way is always to write everything that your mind is trying to process – the problem, possible solutions, and all other little things you might need to remember later. Although this might take a while, it is worth it. Your brain would not have to worry about what is going on in your business for a while since you already have an idea of what to expect at work. If you know that you have a complicated item to cross off your to-do list, take care of it first thing in the morning to avoid that sense of dread. Plus, you’ll feel accomplished and ready to conquer whatever else comes your way.
Delegate Or Outsource Tasks
As a boss, it can be hard to let go and give up control. Any entrepreneur knows he/she cannot do it all. And if you are trying to, you are probably not doing an excellent job at every single thing. That is why learning how to delegate or outsource certain parts of the biz is a foundation for being successful. Recognize your weaknesses so that you can hand over some tasks to other people who would do it better – this would relieve so much stress.
Good health is important when you are a business owner. Running a business requires a lot from you. Your small business comes with long nights, early mornings, crazy traffic, no weekends, and no sick days. This nonstop life puts a strain on your body, coupled with the stress of your business.
You cannot work all the time and expect to maintain the same level of productivity and efficiency. You are not a robot. Therefore, you need to replenish your energy levels, physically, mentally, emotionally, and spiritually. When you’re working on your business, you should be present and in the moment. That would be difficult if you are unable to take breaks or feel a conflict between your work life and personal life.
Running a small business in Nigeria is one of the most challenging things you will ever take on. However, it could be rewarding. Please share in the comment section how you cope with or manage stress as a business owner.