February 01, 2020
How to Deal With Anxiety While Running A Business
Much like all other mental illnesses and conditions, anxiety has nothing to do with strengths or weaknesses. Chronic tension and crippling fear creep up on all of us. Typically, it comes from either genetic predisposition for stress or particular sets of circumstances.
Anxiety Isn't Uncommon Amongst Business Owners
For many people, anxiety creeps in slowly over time, growing in intensity as time goes on. Anxiety can become habitual, revealing itself in different ways: being indecisive, depressed, angry, lethargic, and panicked. There are physical symptoms of anxiety, as well. Some of these include overeating or a loss of appetite, heartburn, breathlessness, and ulcers. Additional symptoms include insomnia, alcohol dependency, and overall tension. Overwork is often an escape option for entrepreneurs who are attempting to shift focus away from their anxious thoughts. While this works in the short term, usually it leads to lousy business decision making. Intense, chronic anxiety also leads to weak confidence, physical health struggles, and social isolation. Poor lifestyle decisions and sleeplessness are also factors plagued by the anxious. It should come as no surprise that business owners are more prone to anxiety and depression. Owning a business requires a potent mix of bravery, creativity, and ingenuity. It’s not for everyone. As an entrepreneur, you're responsible for large-scale decisions regarding company growth. Many times, substantial percentages of revenues and income are involved in these decisions. They can come to fruition from years of work and planning. Long periods can lead to questions as to success factors. Every once and awhile, fear and anxiety is a pivotal piece of the business ownership journey. However, when these fears morph into heavy tension, your world can quickly become self-defeating. This begs the question: besides medication, what lifestyle changes can be made to deal with anxiety? There are plenty of methods, but which processes work best for busy business owners.How To Deal With Anxiety in Four Steps
Do you feel like you're headed towards anxiety? Are you clearly within the realm of suffering? If so, some things can be done to mitigate and manage the associated condition. However, it should be noted that Fora Financial is in no way a professional medical provider. We highly recommend seeking counsel and advice from health professionals as soon as possible. These experts can prescribe courses of anxiety treatments unique to your particular set of circumstances. This can range from CBT (cognitive behavioral therapy) to medication, guided relaxation techniques to meditation, and beyond. In addition, there are lifestyle changes that you can make in your business and personal life that provide significant benefits. Below are four examples of these changes:1. Maintain Control Of Your Small Business
Much like many small business owners, you likely play a very active role in your business's operations. It’s common to have your hands in almost all job functions and decisions. Delegating tasks to employees? Sometimes it’s easier just to do things yourself than have to train someone, right? Maybe it’s time to change things up. This doesn’t mean losing control of your business. However, some processes can be done to ease the associated stress. Start by writing down a list of everything you can think of that you have to do this week. Once you have your list, look for opportunities to free up your time through the development of SOPs. An SOP is a standard operating procedure. It's a step-by-step system or process that can be replicated regularly. While this helps decrease the time spent, it also can ease the delegation process when that time becomes appropriate. Some small businesses have more opportunities for delegation and SOP development than others. One example of this is the consumer goods manufacturing industry. Many business owners struggle in handling both operational and production processes. In situations such as this, some conventional systems can be set into place. This includes:- Production schedules and timelines
- Operations budgets
- Pre-approved vendor lists
- Customer questionnaires and surveys
- Quality control and review checklists
- Competitive bidding processes for contracts over a specific dollar amount
- Document centralization and filing