7 Ways Successful Entrepreneurs Deal With Stress and Pressure

Entrepreneurship is a challenging endeavor that requires a lot of effort and dedication. Entrepreneurship is full of times when stress and pressure come into play, but most entrepreneurs will only show the sales and hundreds of orders. Nobody shows the slow months, disputes, rude customers and difficult vendors, lost packages, delayed shipments and long work days. In reality, entrepreneurs are forced to overwork, experience doubt and worry about getting consistent sales.

Keeping up with the demands of running a business is difficult, but it is a worthwhile endeavor. A correct approach can make it easier for you to run a “small” business and make it happen! This article will discuss a few solutions that can help you to manage pressure and stress in running your business. Let’s dive in!

1. Have a positive attitude

A positive attitude is one of the most important traits of a successful entrepreneur. A positive attitude towards work, customers and business partners is essential to achieving goals and building a successful business. Stress and pressure are inevitable in any business, but a positive attitude can help you deal with them and stay focused on your goals. A positive attitude can also help you to see challenges as opportunities, and it can also help you to stay motivated and focused on your goals. A positive attitude is not always easy, but it is worth it.

2. Find a support system

Support systems can be a helpful way of managing stress and pressure as an entrepreneur. Many people find them helpful in relieving the pressure and helping to stay organized. Many different support systems are available, so it is important to find the one most comfortable for you. Some of the most common support systems include joining an entrepreneurial community and finding a mentor.

A properly functioning support system can help entrepreneurs deal with issues without worrying about them. This can help them to focus on their business and not have to worry about the personal aspects of their life. An effective support system translates to increased individual and business productivity.

3. Maintain a work-life balance

A work-life balance is something that is often talked about but not always practiced. Many people consider work-life balance a luxury, but it’s not. With the ever-growing levels of pressure and stress in today’s society, finding a way to balance your work and personal life is more important than ever. Working too much and neglecting our personal lives can lead to much pressure and stress.

Lack of sleep, unhealthy eating habits, and too much caffeine can all add up over the long run and hurt our mental and physical . Without mental and physical fitness, we may feel like we can’t succeed without putting in the extra hours, and we may start to feel overwhelmed by our work. While there are many ways to maintain a work-life balance, some of the most common methods are setting reasonable expectations, exercising, resting and maintaining a healthy diet.

4. Find a hobby

If you’re feeling overwhelmed by the demands of being an entrepreneur, consider finding a hobby to help take your mind off things. Hobbies offer a sense of relaxation, a diversion from the hectic tasks of running a business and the opportunity to share one’s creativity with others. Choosing something you’re passionate about can help reignite your enthusiasm and help you stay focused.

Many options are available when choosing a hobby, and you don’t have to be an expert to start. Just be sure to choose something you’ll enjoy, and you’ll be able to stay focused while you work. Hobbies can provide a sense of accomplishment and contribute to a sense of well-being.

5. Hire staff to help or delegate duties

Delegating duties as a way of dealing with pressure and stress can be difficult, but with the help of the right people, it can be done. When faced with high-stress levels, many entrepreneurs turn to hiring staff or delegating some of the work to other members. This helps them take some of the load off and enables them to create time for themselves. For example, hiring an administrative assistant can help to alleviate some of the pressure and stress associated with running a business.

6. Develop an action plan

Action plans are an essential component of any successful business. They can help you deal with pressure and stress and, ultimately, increase your chances of success. With a plan in place, you can anticipate challenges and make the necessary adjustments to keep your business on track.

An action plan can help you stay on track and set goals and progress. There are a few things to keep in mind when creating your plan. Make sure to consider your goals, the available resources, and the time commitment you’re willing to make.

7. Ask for help

Entrepreneurs are often lauded for their ability to go it alone. But many people don’t realize that even the most successful entrepreneurs have a team of people they can rely on for advice. Asking for help is a sign of strength, not weakness. It shows that you’re willing to admit when you need help and are open to suggestions from others. Asking for help is a sign of maturity and wisdom.

Source: 7 Ways to Combat Pressure and Stress

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Critics by Ronen Menipaz

There’s a psychological and physical price to entrepreneurship that simply needs to be acknowledged by every entrepreneur, both novice and experienced. Building and running a business is more stressful than you initially imagine or anticipate

Why?

There’s always the pressure of failing – as simple as that. Not every business goes well. You’re taking responsibility for a team of partners and employees. You make promises you’re not always entirely sure you can deliver.  Even when you’re experiencing success, it’s not entirely a 100% sure thing. I almost shut down a business that was profitable because I didn’t count on it growing so fast.

It’s a great thing to see and experience but my cash flow deficit was nine times more than in the beginning. Once that ball starts rolling, it’s difficult to stop it. You scramble to find money and solve the problem (which is a bit absurd as the business isn’t going under) in real time, all the while taking care of your employees who are hanging by a thread of your actions. 

The thing is – you can’t really shake off their pressure and incoming stress because they want to feel secure, and you project the image of that security. Even though entrepreneurs are a self-determined and intelligent bunch, many feel the profound and influencing pressure effects that the surroundings exert on them. Yet, they also feel they can’t be leaders and at the same time admit they’re struggling.

Whether as a group we are embarrassed to admit we’re vulnerable, see it as a weakness, or whatever the reason is, entrepreneurial pressure isn’t discussed nearly enough. That’s a mistake. Don’t be fooled by the successful image the leaders you look up to convey. It’s like social media – people only show the highlights. But I assure you – all entrepreneurs struggle with pressure and the sooner you address it, the faster and better you can manage it and become a better entrepreneur.

Too many times as entrepreneurs we get so focused on success that taking care of ourselves takes a backseat. Such MO takes a toll on the wellbeing of an entrepreneur. The very nature of this job is to juggle many roles while facing the constant risk of failure, various setbacks and ongoing voices in our heads and around us telling us we must succeed. And every single one of us, regardless of how experienced or inexperienced we are, face some version of these defeats along the way.

Being aware of the amount of pressure this line of work entails is an important first step in managing and mitigating the potential negative effects. For some, this is still a taboo topic despite recent efforts to popularize discussions about mental health. It shouldn’t be and we mustn’t let it be.

Dealing with pressure ultimately boils down to personal perspective and the importance you place on the task at hand. By being aware, you can prevent (or stop) sabotaging yourself and lead a healthier and more productive life and business. Will the world really end tomorrow if you don’t succeed 100% of the time? I don’t think so. And the paradox? The less stressed you’ll be, the higher your success rate.

Once you’re aware of what you’ll be likely facing down the road, it’s easier to be prepared to deal with it head-on. Learning to cope with and perform under pressure is crucial not only to be successful but also to be effective while doing it. Speaking from a competitive standpoint, you risk falling behind those who do master handling the scenarios where a major hurdle comes up. And in this often cutthroat environment, recovery will be extremely hard.

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Intelligent Business Practices are a Smart Path To Unleashing Growth

Earlier this year, I predicted the rise of intelligent business practices as a trend shaping Australian small-to-medium businesses.

Barely two months on, things have already progressed to the point that it’s worth revisiting and expanding on what this all means.Intelligent business practices are a transformational, once-in-a-decade type technology shift that promises huge business effectiveness gains. These practices resolve points of friction, improve productivity and efficiency, unlock growth and help organizations scale.The existence of intelligent business practices suggests that unintelligent or under-intelligent practices also exist.

Naturally, no practice starts out as such, but they may degrade in quality or efficiency over time, slowly becoming out of step with best practice despite everyone’s best intentions.Small-to-medium business owners or leaders are generally acutely aware of the problems their organizations face, but almost universally haven’t landed on a way to solve them. Business leaders not only don’t have all the answers but also aren’t often able to quantify the cost of leaving these known problems unaddressed.

This has a dollar value. Research, for example, pegs the loss of productivity from poor internal communications and dealing with unnecessary email volumes at thousands of dollars per employee per year. Another study by Forrester found employees “waste an average of 12.5 hours per week on manual and repetitive tasks because of outdated solutions and practices”, costing an organization of 100 employees $2.7 million a year.

More organizations would act faster if they could quantify the costs of their inaction and the costs of what they were missing out on. To this end, we’re seeing more organizations cost their business-as-usual practices to establish a baseline that can then be lowered by approaching business practices more intelligently.

Starting the change

The first step towards doing that is to be in the right mindset: to be open to opportunities for continuous business practice improvement.

Then it’s a matter of identifying the change opportunities and prioritizing them in order of potential efficiency and cost-out impact.This should be a relatively straightforward exercise that looks at the organization and identifies the three biggest challenges, friction points, growth inhibitors or opportunities that, if removed, could unleash the most growth and revenue.

This is an incredibly healthy exercise for any business to undertake at any point of its existence, but as many of us emerge from a challenging two years, the timing has never been better.It’s worth also putting some limits around this. This exercise should be approached with no preconceived notion of solutions, technology stacks or vendors. This isn’t the right place to run experiments. This should be nothing more than a straightforward examination of how efficiently the business operates.

A truism for every business, including our own, is that if you’ve been operating for any number of years, you’ll reach a point where you do things a certain way that becomes the ‘known’ or the common way of running a transaction or other process internally. That way might or mightn’t be well-documented. It might be intimately known only by one person or a handful of people. It may also not be considered optimal or best practice today. But it’s *your* process and a part of the business DNA that has allowed you to achieve success to date.

Even within the same industry, businesses solve problems in different ways. There may, of course, be some commonality between approaches, but often they reflect and run according to the unique personality of the business and how it has evolved. The point of running a discovery exercise on these processes and practices is to determine how successful internally they’ve allowed you to be, but then how much more successful you could be if the processes were optimized and operated in a more intelligent way.

If hundreds of thousands of dollars in potential benefits are tied up in a sub-optimal business process or practice, but a pathway exists to make that process or practice more intelligent – without incurring high cost – this should be considered a threshold or trigger point to drive towards more intelligent business practices.The impact of adding intelligence to one business practice or process should quickly become apparent to the people that work with it, and to customers that see and experience the output of how smoothly it now operates.

This creates internal excitement for change. People want more, and it often leads organizations to drive intelligence deeper, and make more far-reaching changes to the way they operate. Confidence builds and is converted into a cycle of continuous improvement. Given the nature of the business environment, all leaders would be well encouraged to take a fresh look at their businesses, either by themselves or with the aid of a specialist process consultancy like Tecala.

But, it all starts with a simple, straightforward and fresh look at the way you do business. Against the current backdrop of economic recovery and opportunity, SMEs and their leaders would be well advised to start now.

Source: Intelligent business practices are a smart path to unleashing growth

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