A
recent report done by Bank of America found that running a small business is
almost three times more stressful than raising kids and over twice as stressful
as maintaining a healthy relationship. A
little stress is inevitable when being in business for yourself because you are
the one who has to make all of the decisions. Here are a few tips to help you
keep that stress down to a level that you can deal with.
1. Be positive.
There are countless factors of owning a small business that you have no control
over. Running headlong into the great
unknown is scary and when you have a lot on the line it can seem like failure
is inevitable. No matter how bleak you
can imagine things becoming it is far more productive to remain optimistic
about the future of your business. Small
business psychology has shown that optimism will not only reduce your level of
stress but it will also allow you to have the faith you need to make wise
business plans and improve sales.
2. Don’t be afraid to ask for help. 27 percent of respondents to the Bank of
American survey stated that they did not consider themselves to be financially savvy.
Feeling overwhelmed with the finances of
your small businesses will raise you level of stress. Finding financial advisors that you can trust
and depend on can ease a portion of that anxiety.
3. Become a friend to technology. In many ways being in
business for oneself has gotten a lot more stressful than it was in our grandparents’
day. Luckily there are many
technological advances today to help balance out some of that added stress. Good accounting software can help you keep
track of your accounts receivable and create invoices to help you avoid late or
missing payments due to your company. Also,
online bill payments and arrangements for funds to be automatically taken out
of your accounts can help you stay on top of the money you owe to creditors and
utility companies with little effort on your part.
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