During these uncertain times, stress management for business owners has become more crucial than ever. Take advantage of these top tips in order to manage your stress.
Stress Statistics You Can't Ignore
Business owner stress statistics are telling. 72% of adults report feeling stressed out about money, according to the American Psychological Association (APA). Whether it's worrying about paying rent, feeling underwater by debt or cash-flow issues.
According to the American Institute of Stress, 40% of workers reported their job was very or extremely stressful. This is primarily due to excessive workload, people problems, job security, and work/life balance.
And also, according to the American Institute of Stress, 25% view their jobs as the number one stressor in their lives. Most people would agree that, though this is common, it has to affect long-term health in the form of delayed healthcare, poor physical health, poor mental health, and unhealthy coping strategies.
On the job, stress is linked to higher weight, and job stress is known to fuel disease. Another study found that women are more sensitive to pressure than men and are more likely to be depressed by stress with higher anxiety levels.
6 Stress Management Tips
Try these 6 stress management tips for you and your employees:
- Focus on what is going well. The tip's heart is inventorying a list of all the achievements you have made with your business since the start of your endeavor. Get detailed. Consider the milestones, and it will most certainly be a longer list than you anticipated. Looking back at the list, milestones will add positivity to your mood and help you manage adverse situations better.
- Prioritize your tasks. While multitasking is a way of life for all of us, there are ways to limit this activity to a manageable level. Task prioritization is one way. Focus on a small number of tasks at once. Prioritize your goals on a piece of paper and try not to get overwhelmed!
- Clear your mind. We've all been there where your brain swims in between work and home, especially in 2020, when many of us work from our homes. Try writing everything down in overwhelming moments. You will reach the end of your thoughts. This clearing of the mind is a way of processing your anxieties so they can be at rest in your head. And the ideas will always be there when you can sensibly get to them.
- Take Breaks. If you are working on several things and nothing is getting done, take a break. Do something you find relaxing. You'll return with a clearer mind.
- Take care of yourself. Owning a business is a non-stop lifestyle, plus the stress on top of that. Start with the basics: drink water, eat a good diet, get adequate sleep, take supplements if needed, and reduce excessive caffeine.
- Exercise. Getting exercise is crucial to stress management for business owners. It naturally releases anxieties and frustrations. It can leave you with a clear mind and help you relax. Even a small amount of exercise helps. So, consider taking small steps towards boosting your routine.
Stress Management Benefits
According to Mayo Clinic, stress management is "learning skills such as problem-solving and time management, enhancing your ability to cope with adversity, improving personal relationships and practicing relaxation techniques." The development of this particular skill set will serve you well in stress management for business owners.
By learning to handle stressors, you gain more control over your life. This control gives you the power of making better-informed decisions. Finding employees who can help lighten your load can help quite a bit too. However it is done; it would serve the small business owner well to lessen anxiety by handing off some tasks.
Maintaining a Good Work-Life Balance
Crucial to stress management for business owners is an acceptable work-life balance. A work-life balance and connection to community are among the top needs and wants of workers. This balance is crucial in preventing burnout, especially for business owners.
The fact is that small business owners don't get enough home life to feel balanced. Not feeling this balance will just add to the stress, which you don't need.
Maintaining boundaries is a good place to start. Boundaries are an excellent tool for stress management for business owners. There has to be a difference in your time from when you work and your free time. Establishing a healthy boundary for this will help you get more done.
Managing Your Financial Stress & Solve Cash Flow Challenges
Emotional, physical, mental, and financial needs can all take a toll on a business owner. Whether its loan payments, cash flow problems or spending savings.
Signs of financial stress may include:
- Getting in arguments with loved ones about money
- Not opening mail or answering the phone
- Feeling excessive guilt about spending money on non-essentials
- Worrying and feeling anxious, particularly about money
Financial stress can be devastating to both personal life and a work-life. It affects both. But there could be an answer to your cash flow issues.
ROK Financial is standing by to talk to you about business loan options that will specifically address your business needs, and hopefully help ease any stresses you may have around any financial struggles.
Having cash in your business can help solve financial stress and cash flow problems. Cash can help you meet the daily demands (lessen stressors) and give you breathing room to operate during challenging times. Obtaining a business line of credit is easy at ROK Financial. And, it offers a safety net that can provide business owners the comfort they need to keep stress levels manageable. So, let ROK Financial be the answer to financial stress and anxiety. They can be a partner with a helping hand where your needs come first.
About the Author, Madison Taylor
Madison Taylor is the Brand Ambassador at ROK Financial. She is responsible for raising brand awareness and business relationships with business owners across the country. Madison loves that she plays a small role in getting Business Back To Business Through Simple Business Financing and looks forward to hearing what you think about the blogs she creates! Madison has been working in the financial space for six years, and loves it! When she is not at work, you will find her at home learning a new recipe to test out on her family or going on new adventures with her friends.