Tuesday, August 14, 2018

Business Management

Stress Management

As a business owner, every part of your business has the potential to create stress. Slowly developing sales, debt, poor cash flow, employee issues, equipment or operational issues. You think about the business 24/7 and this makes you tires and anxious.
You cannot escape the reality that business ownership s stressful but perhaps the following comments will help with stress management.

1. Positive Focus
Remind yourself of the many accomplishments you may have achieved no matter how small. Stress will increase if you always focus on things behind schedule, unfunded or that need repair.

2. Be aware of your body signals
Excessive heart rates, headaches, anxiety may be signals and suggest a need to find time to wind down.

3. Don’t procrastinate
Do not postpone decision making. Difficult decisions are not made easier because you postpone them. At times conditions may worsen if issues are not resolved.

4. Purge your Brain
Enjoy time away from the job to let you recharge your batteries. Plan periodic vacations or days off. The organization is unlikely to collapse because the boss is away for a short time.

5. Delegate:  
No one has a monopoly on all of the good ideas and ways to resolve problems. Let staff participate as part of team that enjoys successes and faces difficulties on the job as well.

6. Stay Aware
Make sure key support people including those managing the finances keep you up to date. Since cash flow is a key marker make sure expenses are kept under control and systems to improve productivity are reviewed often. A well run business with good information flow is a key to stress reduction. Eliminate surprises.

These suggestions won’t eliminate all of the stress in your business but they may help keep stress at a manageable level. Please let me have your comments.


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