Many challenges can appear within the business world. Dealing with them may cause stress, which, if in excess or in continuous mode, may damage your whole business setup procedure. A fundamental key for your business’s prosperity is to productively manage business stress and prevent it from jeopardising its success.
You have envisioned setting up your own business for a while. A conscious and exciting choice that you’ve made based on several reasons. First, because you wanted to raise your income. Second, because you wanted to change your lifestyle away from the 9-5 programme. Third, because you wished to provide to yourself and the community your unique services, ideas or products and know-how. For all these reasons you finally decided to move on your own business’s setup. Nevertheless, the new business building isn’t always set up on a bed of roses.
How to deal with your business’setup stress
No matter how many challenges you find while setting your business, there are tangible solution to prevent stress from causing damage.
Have a business mentor and/or a business coach
I would suggest you to find both a business mentor AND a business coach. The mentor is a business person of their own. They have their own experience and know-how of building a business. They can provide you with valuable insights from their personal business setup history. Their role can be inspirational and educational for you.
The business coach is a professional who has the training and the experience to guide you during the entire procedure of business making. They can provide you with smart tools to clarify your business goals and successfully implement them. Furthermore, the business coach helps you increase your awareness and discover your multiple skills and potential and empower your mindset.
Develop a viable plan
Think carefully about all the necessary steps you need to start your business. Your plan is your powerful tool to proceed. Best course is to make sure to well define what your business is about; determine your niche; create a successful strategy to implement your business plan; calculate the financial cost and project the financial performance; be ready to deal with the problems that may arise.
Maintain a reasonable budget
Do not overspend. Everyone envisions a great well-created business, but in the beginning and according to your budget, stick to the basics. Spend those amounts necessary to put your business up and running. Once it is launched and it starts bringing gains, you can proceed to a gradual upgrade of your business. Keep in mind that successful entrepreneurs such as Steve Jobs, Richard Branson, and Sara Blakely started their companies from a garage in the back of their house!
Keep a balance between your personal life and your business life
Obviously, in the beginning of your business setting this can be extremely challenging. That is one more reason why it is imperative to create a robust business plan. It helps you put all the necessary steps in a relative time frame. This will allow you a certain degree of saving valuable time to invest to your personal life. Some “me time” will allow you to have the proper rest, relaxation and contemplation. This time will keep providing you with the necessary energy to pursue your business plans. Some time with your family and friends to keep alive and flourishing your personal relations. It is also a wonderful way to reduce your stress and reinforce your creative motivation. In your personal time you can also apply meditative practices that will help you focus your attention and release stress.
Delegate, outsource or create a team
According to the type and the needs of your business, you will choose how many members of your initial team need to be. In case of a low budget you can still outsource many of your activities to people or companies dedicated to do exactly that: they take up the work you will delegate them to do for a fee. The fee is a relatively small amount for the time and energy you save. It is actually a long-term good investment. Do not hesitate to delegate all the things that other can do instead of you. Keep for yourself only the things that no one else can do, e.g. set your creative ideas. With a careful observation you will realize that a huge amount of your activities can actually be delegated. This can really relieve you from a lot of physical and psychological stress and empower you as the leader figure of your business.
Best course of action to prevent stress when business setting
Stress can be a factor that may endanger the implementation and the success of your business. You can avoid that and protect yourself and the business from it. Stay focused on your goal, with a program, clear vision and strategy. Ask for all the necessary help you need for your venture. Business making has a lot of challenges. It includes a lot of unforeseen developments that may produce frustration. It is part of the procedure. But the best you are prepared and flexible, the best you can deal with it and get the outcome you desire.
Last modified: July 24, 2021