Stress is an inevitable part of running any business but there are many ways to make sure day-to-day pressures don't become a chronic mental health problem. Whatever you do, don't ignore stress; if you're constantly anxious or running on empty you risk burnout.
Your stress doesn't just affect your own wellbeing; it can damage the health of your business. Looking after yourself and finding ways to reduce your own stress levels are part of creating a successful business.
Causes of stress when you run your own business
Many people set up their own businesses specifically to create a better work-life balance and to get away from the stress of working for someone else. But running a business is hard and there are many factors that can cause stress including:
- Shouldering the weight of responsibility for the success of the business;
- Dealing with admin and complying with regulations;
- Worrying about overheads and cashflow;
- Managing staff and keeping customers happy;
- Working long hours and having to "do it all".
How to reduce stress
The first step is to identify the things that make you stressed. Setting up a business is a huge learning curve; you quickly find out what works for the business and also what works for you. You can make some tasks less stressful by taking the time to improve your skills or delegate that task to an employee or a freelancer.
When you start up, you often say yes to anything and everything to get your business off the ground. Over time, you will have to get used to setting boundaries and saying no; you may even have to change the business model to help you to create a viable business that won't damage your wellbeing.
Every business owner needs to prioritise getting enough sleep, eating regularly, taking exercise and having time away from the business. With that foundation, it will be easier to tackle the challenges of running a business. Running your business effectively should also help to reduce your stress levels:
- Set achievable goals and realistic deadlines;
- Create a routine that helps you to feel in control;
- Prioritise key tasks and schedule regular breaks;
- Use apps and other tools to help you manage your workload;
- Delegate tasks to employees or use freelancers;
- Ask for help from friends and family or find a mentor.
How to switch off
Thinking about work all the time goes with the territory when you run your own business. One way to stop constantly thinking about work is to make a schedule for the next day so that you can relax at home knowing a plan is in place. You could also write down all the things you've achieved in the past few weeks to remind yourself what is going right.
It's a good idea to schedule times when you will put your phone and laptop away and find specific activities that help you to switch off. Sport and exercise can be a great distraction; but cooking a meal, spending time with your kids, watching a movie or listening to a podcast can also provide a respite from thinking about your business.
Workplace wellbeing tool
Poor employer or employee health can have a big effect on productivity. Employees taking lots of time off sick or turning up for work unwell and being less productive than usual, not to mention risking infecting other employees can all have a big impact on your business. The workplace wellbeing tool on the GOV.UK website can help you work out the costs to your business of poor employee health and how to create a business case for taking action.
You can use this tool to:
- calculate the annual cost of employee ill health, absence from work and staff turnover
- create business cases for workplace health and wellbeing initiatives
- estimate the return on investment of setting up a health and wellbeing programme
Use the workplace wellbeing tool on the GOV.UK website.
