As winter looms, small business owners can stay ahead of stress with practical tips to protect their well-being and maintain productivity.
CREDIT: This is an edited version of an article that originally appeared on IFA Magazine
Heading into winter can be a challenging time as children return to school, the weather takes a turn, and businesses gear up for a busy fourth quarter. With more than half (56%) of small business owners reporting poor mental health over the last 12 months, it’s crucial to address this issue as we approach the winter months.
Mental health experts Simon Davies and Georgina Sturmer share their insights into the rising levels of exhaustion at work and offer valuable tips for small business owners to manage stress levels and prevent burnout as the year draws to a close.
Small business owners often find themselves wearing multiple hats, which can become overwhelming and lead to increased stress levels. Simon explains, “Small business owners typically wear many hats, creating an overwhelming juggle that inevitably increases daily stress levels.”
Georgina expands on this, stating, “When you own a small business, there is always that feeling that the responsibility lies with you. Even when things are going well, you are constantly aware that the next threat or challenge might be right around the corner.”
As we transition from September to the end of the year, here are some simple steps small business owners can take to manage their stress:
Plan ahead: Planning and preparation are crucial for handling unnecessary pressure. Whether you prefer a weekly to-do list or a quarterly/yearly plan, addressing concerns early gives you the capacity to manage high-stress situations effectively. Step back, assess what lies ahead, and leverage your team’s strengths to tackle potential challenges.
Ease financial concerns: Financial worries affect 41%1 of small business owners’ mental health the most. Identify stress-inducing financial areas, such as cash flow, visibility, budgeting, or tax issues. Once identified, take steps to address these concerns. Consider getting a business credit card for financial flexibility and better visibility. Build a cash reserve, ideally covering more than three months’ operating expenses, to ensure coverage during unexpected events.
Communicate and open up: Bottling up stress can have detrimental effects. Sharing your feelings makes it easier for others to support you. Talk to colleagues, trusted friends, or family members to process your emotions and develop strategies to address the root causes of stress. Therapists who specialize in working with entrepreneurs can offer impartial advice and support.
Take care of yourself: Prioritize self-care, physical activity, and a healthy lifestyle outside of work to combat rising work-related tensions. Ensure you get enough sleep, eat nutritious foods, and exercise regularly. Physical activity is not only a great stress reliever but also releases endorphins, which promote happiness and long-term well-being. Incorporate exercise into your workday, like taking calls during a walk or organizing exercise classes for team bonding.
Protect your free time: Establish boundaries to safeguard your evenings and weekends, especially during particularly stressful periods. Engage in enjoyable activities, spend time outdoors, connect with loved ones, or simply disconnect from devices. While it may be tempting to work or stay connected around the clock, allowing yourself time to recharge is essential for improved performance at work.
In conclusion, as winter approaches and the demands on small business owners increase, it’s crucial to prioritize mental health and well-being. By implementing these practical tips and strategies, small business owners can manage stress levels, prevent burnout, and ensure a healthier and more productive work environment.
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