Coping with Entrepreneurial Stress | Butz Bartolome
We all have our fair share of stress every once in a while. And with how our lives have become busier, it is just too impossible not to feel all worn out after a day’s work. If I ask you now to rate how you are feeling, what would it be? What are the things that stress you out?
Being successful is a great feeling, but it is not without having to deal with stress. Entrepreneurs are likely to suffer a lot of stress, particularly since they have a lot on their plate all the time. It is not that they want to get stressed all the time. It’s just that the tremendous responsibility they have been entrepreneurs leads them to be stressed – it is like second nature to them.
But, of course, we know that being always stressed is not a good thing. Do you know that many people die. not because of diseases but because of too much stress? Indeed, stress is a silent killer. While we think that these millionaires or billionaires have that wonderful smile on their faces, they do suffer either stress or depression.
Entrepreneurial Stress
Entrepreneurs are a high-risk group for occupational stress because the lives of these entrepreneurs are dominated by work. They have invested their money for their companies, so they typically work harder and work longer hours than the employees and managers. Being human, I know that most of them have thought of just throwing out the towel, but then again, with all the hard work they have started, giving up is just not an option for them. Many of them are workaholics, working an average of 60 hours per week (including working during the nighttime and even on weekends).
Occupational stress is inevitable for entrepreneurs. They could barely separate their work from their own personal lives. Therefore, working long hours, tremendous responsibility, taking a lot of risks, and dealing with conflicts about spending time off with the family are suggestive of developing physiological and psychological stress compared to traditional office jobs. Entrepreneurs experience a high level of chronic stress.
This is alarming given that chronic stress is associated with the development of chronic illnesses such as cardiovascular diseases and depression. Ironically, being an entrepreneur gives you the freedom on one point. And ties you up with so many responsibilities that it hampers your life to have the rest and relaxation you need. Therefore, being a successful entrepreneur has a price to pay — your health is at risk.
Common Stressors
Here are some of the situations that put on more stress on an entrepreneur, which should be given attention to, and hopefully, they could be able to find ways to control their emotions and manage their time well so that they can lead better lives.
Building and maintaining a positive reputation in the market. Of course, who would want to be left out? What company would live with a bad reputation? Starting up a new business is stressful enough. Maintaining good standing in the market may not always be enough to some. Some entrepreneurs feel that they are always competing with others that they would not take time to take a break and enjoy where they are. Knocking their brains off thinking of better ways to tip over the competitor can be really stressful, mainly if the competitor is doing good in business.
Fear of failure. Again, nothing is perfect in this world, no matter how much you think you have mapped out a 100% fool-proof plan. There are plans that you would think would work fine, theoretically. But, certain unavoidable circumstances may affect these plans somehow. So instead of stressing yourself to perfection, create a backup plan always.
Financial problems. I guess this is a problem that we all face, especially these days. And for that reason, we should not burden ourselves too much. If you come across some financial crisis, always remember that it does not only happen to you. Sometimes you are lucky. Sometimes, you’re not. Just learn from the mistakes and strive not to commit the same mistakes again. Or if there is a need to do cost-cutting just to save the business, then do it.
Delegating tasks. You may be the boss of your company, but you don’t need to be all around the place all the time. That is why we hire managers and supervisors to help the company manage and not put all the burden on your shoulders. Learn to delegate tasks and just look over the decisions made by your managers if they are right or wrong. Let them deal with the employees individually.
Conflict with business partners. Getting into some discussion with your partner is not a surprise. You are different individuals with different views. But, to eliminate yourself from the stress over a heated argument all the time, make sure to choose a business partner that shares the same beliefs as you have. Also, admit that you don’t know everything. You may also need to listen to your business partner’s ideas sometimes.
There are actually a lot of stressors being in business. But to be able to handle stress, you need to learn how to balance your life. Take time off sometimes and have yourself recharged. Remember that you only get one life to live. Live your work at work, and when you get home, spend time with your family. If you give yourself time to relax, you become more productive the following day. Most importantly, help your family realize the importance of your hard work. When you have the full support of your family, it makes life a whole lot easier.
CHECK OUT more advice from Butz Bartolome:
Understanding the Impact of Digital Technology | Butz Bartolome
Getting Inspiration To Start Your Own Business | Butz Bartolome
CHECK OUT the Philippines’ top mentor Butz Bartolome as he discusses business matters and SHARE THIS STORY with entrepreneurs and aspiring entrepreneurs who need the advice.
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Source: Good News Philippines
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