How to Combat Stress as an Entrepreneur

Being an entrepreneur is stressful no matter the size of your business. From those starting out to the well seasoned pros, we all feel stress in different areas. A small amount can actually be a good thing, it can push you and motivate you to work harder, meet deadlines and propel your business forward. However, too much stress can take all the joy out of entrepreneurship and running a business, hinder your productivity and even harm your health. Whilst it’s true that stress is part and parcel of entrepreneurship, there are plenty of realistic ways to manage it.

Delegate

One of the first steps towards reducing stress is lightening the load. Entrepreneurs often try to tackle everything themselves which, as your business grows, becomes unrealistic and can lead to burnout. In order to achieve long-term success as a business owner, you have to know when to delegate. Identify which tasks require your specific expertise and delegate those which your team members should be able to handle. If you’re a sole trader, you can outsource almost any task necessary, from bookkeeping to giving your admin to a virtual assistant. This allows you to concentrate on growing your business and helps to preserve your skills for where they’re really needed.  

EXERCISE

Adding another task to your to-do list might seem counterintuitive, but regular exercise is an incredibly effective stress buster.

Firstly, exercise releases endorphins which help to combat stress and fatigue. Better still, exercise improves cognitive function, strengthening your memory and sharpening your focus. This means that exercise can result in a boost in productivity, which may further reduce your stress levels by allowing you to tackle more of the tasks at hand.

You don’t have to run miles every day or spend hours in the gym. Even a small amount of daily exercise can be useful in managing stress. If you’re frequently stuck behind a desk, try to get out for a walk in nature or squeeze in a 15 minute mobility session to give yourself a boost.

Meditate

Meditation as a practice has been around for thousands of years and is celebrated for its calming benefits. It can be done anytime, anywhere but it’s best to set aside a designated time slot each morning or evening so that you don’t forget to do it. If this feels like another task, start small, with just a couple of minutes of mindfulness a day.

Regular meditation also helps to increase your attention span and self-awareness, which can help you become an even better entrepreneur, colleague or boss.

Find a Hobby

As an entrepreneur, it’s easy to let your whole life be consumed by your work but it’s important to maintain other interests to keep yourself sane. A fun hobby is a great way to unwind. Remember that not everything you do has to make you money. 

Plus, relaxation is actually essential to creativity. Performing an activity just for fun triggers a release of dopamine in the brain, a feel-good hormone which stimulates the creative part of the brain and gets those good ideas flowing. Therefore, taking up a hobby not only helps to combat stress, but may also benefit your business. It’s why plenty of good ideas are had whilst playing a simple game, knitting, or walking the dog.

Take Regular Breaks

Many entrepreneurs are guilty of working solidly through the day, but did you know that neglecting to take breaks actually damages your productivity? If you struggle to remember when to press pause, try setting a timer on your phone to remind you to take a break every hour or so. Stepping outside for just five minutes can help to refresh your brain and allow you to gain a new perspective.

Whether you’re a freelancer, founder or CEO, it’s important that you control your stress to get the most out of running a business. Whilst it’s tempting to neglect breaks and devote your entire life to the tasks at hand, this is a short-sighted approach that will only lead to burn out. Effective stress management is essential for the long-term health of your business so make sure you’re committed to keeping it under control.

If there are any finance or accounting tasks that Lagom Finance can support you with to reduce your stress, get in touch.