Many start-up business owners have problems with business stress if they struggle with money issues while in the first year after starting a new small business. Is your business not delivering as well as you expect? If that’s a yes, and particularly if the main cause is cash flow difficulties, then you probably pay a great deal of attention to your bank account balance and budget, but what you would possibly not realize is how much being snowed under with balancing the ledgers can impact on your health.
According to a recently released report on business stress the number of small businesses going into some form of insolvency arrangement in the month of April 2011 is the highest April count recorded since 1999. This is a 10% increase over the preceding April and a 23% increase above the mean of the prior 5 years.
Business stress management isn’t to be shrugged off. If you do not take initial signs seriously, it is possible to run the risk of really serious problems including heart disease, migraines as well as a host of different medical problems that will cost you more than your business venture in the long run.
Business Stress Indicators
When it comes to your business forecasting and fiscal management, it’s essential to set as well as attain all your goals. However, if that effort stresses you to the level at which it will become a significant health problem, it just is not worth it. This isn’t to suggest that taking financial responsibility can be a bad thing, but if you are over stretching yourself, it could defeat the most important purpose why you are doing it in the first place – to create a profitable business venture and live a comfortable life-style.
A report from Associated Press and AOL does include the following figures:
- Ulcers: 27% of people with financial difficulties are affected by ulcers or other digestive system conditions as opposed to just 8% of individuals who have no debt troubles.
- Migraine: 44% of people with substantial financial stress have experienced migraine headaches or other problems compared to only 15% of those with minimum levels of stress.
- High Blood Pressure: 33% business people experiencing money issues have problems with high blood pressure levels and / or hypertension in comparison to only 26% of individuals with low or non-existent levels of anxiety from finance concerns.
Other health concerns experienced at a greater level by most people in financial hardship include anxiousness, depressive disorders, heart attack and sleeping disorders. If you suffer from any one of these health problems, it is the time to stop and get started addressing your business stress
Business Stress Control
If your small business budget is starting to get of the rails or some other business concerns seem to throw up major obstacles, it is time to take action. Business stress may easily arise from various circumstances. Find the root factors and then start to eliminate these items from your enterprise.
Debt: When your unpaid bills are mounting up and you ask yourself how to get out of trouble, begin by searching for professional guidance either by going to a financial advisor or just finding a small business course. I’m aware from practical experience that it may be hard to acknowledge the reality of your money situation, but staying with stress and doubt will never get your business out of the doldrums. The sooner that you start to deal with the matter face to face the more advantageous it’s going to be for your own health as well as the health of your business.
The further you delay taking positive action, the more you could ruin yourself emotionally as well as bodily and the longer that your business can be affected. Remember as to why you are spending such effort to build your organization at all. It surely isn’t so you can keep being stressed over it for a long time.
How to handle Stress
Where a new small business owner is attempting to cope with financial pressure, it is not unusual to feel entirely swallowed up by it even when it is often just one single aspect of the overall scenario. Successfully coping with your small business pressures needs appropriate realization of the demands which have been placed on you and that make your body behave in this way.
Once you are able to do that, try to work out if each of these tasks and your objectives are in fact appropriate and also achievable. Otherwise, re-state and also improve your desired goals to targets that will be more sensible. In the event that your present goals are actually realistic then get an in-depth look at your reason for falling short of your objectives. More regularly than not, handling business stress is really as simple as starting to be more in control of getting on top of the actions that you have established to achieve your goals.
One final and all important point; look for time to relax regularly even when it is just short breathers and don’t neglect to make time for some physical fitness. Physical wellness produces mental health which in turn is really an important element in how to approach stress. Your business is a considerable combination of varying aspects. Do not allow just one particular problem area to dictate all else. Ensure that you set aside at the very least a small part of a day to having fun with the sort of things that get you away from the business venture and that you love working on. Regardless of what that is, a walk in the park, unwinding with a great book or looking at some Show on TV or DVD, it is important to have time to truly appreciate the finer things in your own life and your business.
Developing a profitable new business may be your main aim in your life but if you don’t stop to consider the way in which business stress can impact on your overall health chances are you may well discover yourself to be in a position where you won’t get to benefit from the fruits of your toil. As I’ve mentioned before, enrolling in a good quality small business course may well be the first step in the right direction.
Elizabeth Todd is a small business development coach with several years experience running her own business. She started her career as a business analyst consulting in the banking, finance and IT industry and subsequently moved into the small business arena.
After owning and operating several businesses, she was invited by a business enterprise center to act as their small business mentor. She found that coaching was an extremely satisfying task as it allowed her to provide the practical training that is missing in most other business information platforms. She now likes to use this experience to help other new business owners on their road to success.