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March 3, 2017

The Best Ways for Entrepreneurs to Reduce Stress

It is well known that it takes a lot of dedication and time to run a business. As an entrepreneur, you are responsible for executing the daily tasks and the long-term planning of different strategies. Unfortunately, if you do not have the money to hire employees to help with the different areas of your business, it may feel as though you are running a circus all by yourself.

Succumbing to burn out and stress may seem unavoidable especially when you are responsible for both personal and business obligations. However, allowing yourself to become overwhelmed with stress can affect your physical, emotional and mental health.

Many business owners are becoming aware of the connection between health and stress. In fact, over 70 percent of disease and sickness can be traced either to stress, or its closest relative, anxiety. Stress can also be blamed for poor decision making and irrational behavior. This means that the potential impact of stress can negatively affect your business, your staff and your customers.

The good news is that when you have time management strategies in place, you will be able to add rest and relaxation to your to-do list.

Put Yourself First

It does not matter whether it is a walk around the park, a massage or a morning jog, it is very important that you take care of yourself if you are an entrepreneur. Stress can have a significant impact on you physically, and if you can learn to manage it before it gets out of control, the more successful you will be as an entrepreneur.

Create a routine or purchase a tool that will help you manage stress. Make sure that your body remains comfortable during the day regardless of how much stress you may be feeling.

Get a Good Team

Entrepreneurs work harder and longer hours than most other people. However, if you are not passionate about your business, you will burn out trying to create a successful business. For example, are you spending your time on the parts of the business you love? Or, are you finding yourself in a rut trying to micromanage your employees?

By hiring the right people and adding the right systems to your business, you will be able to delegate tasks to others who can help you make your vision a reality. This will allow you to fully embrace being a business owner and you will be able to put your focus on the areas of your business you love.

Take a Deep Breath

It is important that as an entrepreneur you learn how to separate urgent events from just important events. You will need to know how to respond to a crisis and how to respond to a bad surprise.
For example, if you are waiting to be paid from a client, you may be running short of cash to pay employees. Instead of waiting for payday to arrive, you can take proactive steps such as utilizing accounts receivable factoring to keep your business afloat financially.

The truth is, there are rarely real disasters. The majority of things we consider disasters are really just slight annoyances. Although these distractions will require your attention, they do not need any negative emotions.

The best way to handle these distractions and annoyances is to do intentional breathing. Intentional breathing will provide your body and your brain with additional oxygen, and you will feel renewed inside and out. Intentional breathing will have a positive effect on both your blood pressure and your performance.

Budget Your Time Like You Budget Your Money

You will need to be responsible when you are trying to budget your free time. When you budget your free time for the month, it is like placing your money into an interest or savings account. You then build your fiscal budget around the money you have left. When you stick to a budget, you must decide how to spend your money responsibly.

The same applies to your time. You can decline to attend meetings you are not interested in, or you can choose to refer customers to other members of your team who can answer their questions or address their concerns. Try to challenge yourself to unplug from your business and stay accountable to the time budget you created.

It is probably impossible to erase every stressor that comes with being an entrepreneur. In fact, you may not want to completely eradicate stress because being under some stress can help you meet deadlines. However, eliminating bad stress will make your business more efficient and successful in the long term. 

The views and opinions expressed herein are the author's own, and do not necessarily reflect those of EconMatters.

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