6 Stress Management Tips for Small Business Owners
An overwhelming majority of American companies are considered small businesses. In fact, 99.9% of all U.S. companies are small businesses. The experience of being a small business owner is a common one. Unfortunately, part of that involves the challenges of starting and running a company. Managing the stress associated with launching, growing, or running a company is an important facet of maintaining and preserving your mental and physical health. Fortunately, there are several important steps you can take to do so.
1. Stay Organized From the Jump
It’s never too late to get organized, even if you’re years into running your small business. Starting each month or quarter with a dedicated organization session is a great way to reframe and refresh your tasks. These designated times can be used to re-evaluate the systems, routines, and tools that you use.
Your home office might be your productivity sanctuary; however, it’s also a place that can attract clutter. While you work, take a moment or two to put away items that you are no longer using. This way, your desk can maintain a sense of purpose and cleanliness. The next time you are ready to work, you will be welcomed by a blank slate.
Additionally, your computer desktop can end up littered with files. Instead, you can consider using USB drives or uploading files to the cloud so that you can keep your computer organized and clear. This can also help make your documents easier to find.
As you involve and hire more people for your business, you will want to keep track of hiring documents and contracts. Furthermore, you'll need to keep up with their payroll and other legal necessities that come with employment. You can use a “create a paystub” generator to formalize and smooth out the paystub process.
2. Hire the Right Employees — And Keep Them, Happy
Some business owners don’t contract or employ workers, so they do not need to be concerned about taking care of employees; however, companies may grow to a point where hiring becomes necessary. It’s worth keeping in mind how to recruit and maintain first-class staff.
One of the first steps to bringing on employees is to represent your company well. When you’re hiring, especially remotely, you want potential talent to see that your business offers stability and room for growth. Give your website and online presence a makeover and see what a difference that can make in your recruiting.
Fostering employee engagement is just as important as recruiting well. This means keeping your staff moving with feedback and growth opportunities. Team-building is a fun, relaxing way to connect with employees as well.
3. Use Tools To Aid Your Productivity
There are productivity tools created and advertised everywhere. For business owners, especially those with teams, keeping communications flowing and assignments clear is crucial for efficiency. Using apps that automate processes or keep your projects organized is a great way to streamline your productivity. Additionally, online software and systems can bring simplicity to more complex tasks, such as accounting. Restructuring and delegating may be the answer to some of your business’s idleness. A manager should frequently reassess areas for growth in your employees and systems.
4. Prepare for Financial Issues Continuously
Not correctly keeping track of business taxes can cause you to lose money. Coordinating this aspect of your company is challenging but there are several options available to help make it manageable. It’s essential to keep up-to-date on which taxes need to be on your employees' pay stubs and which sneaky ones will not show up (such as the unemployment tax).
5. Expect To Fail Sometimes
Failure is a necessary component of achievement. Without the learning curves associated with making a mistake, there are limited opportunities for growth and development. View a missed goal as an opportunity to learn and do better the next time around. Do yourself a favor, and take your newfound knowledge and apply it to future instances where the lesson can be particularly relevant. Knowing that failure is normal and expected can ease some of the stress associated with falling shy of a benchmark. Setbacks do not mean you can’t continue to move forward in the long run.
6. Ask for Help
Even if you’re running your business by yourself, it doesn’t mean you can’t reach out for help. There are many parts to managing a small business, and it’s perfectly acceptable to ask for assistance. You might consider:
Reaching out to a mental health professional you are experiencing stress that interferes with your work, for tips and tricks for managing and reducing the tension in your life.
Delegating tasks that don’t need to be done by you in order to preserve your mental and physical bandwidth.
Assigning and hiring someone to take care of your financial, HR, or other routine duties.
Operating a small business certainly comes with its fair share of challenges and stress. By staying organized, using the right tools, and asking for help, you can work to set yourself and your business up for success. Now breathe...