27 Sep 2019
The importance of managing workplace stress as an Entrepreneur
Posted at 12:39h
According to the Gallup Wellbeing Index, 45% of entrepreneurs report being stressed compared to 42% of other workers. In fact, a study published by Small Business Economics, found that entrepreneurs were more likely than comparison participants to experience depression.
An entrepreneur needs to manage multiple roles in a growing venture and the one thing that tends to get ignored in this process, is his own mental health. Given how important a founder is to any start-up, there may be a few ways one can manage this stress.
- Appreciate the importance of tuning out
Being in-charge is never easy, but any successful entrepreneur will tell you how important it is to take time out for yourself and recoup your energy. Being exhausted and burnt out impacts your decision-making ability. So, identify simple activities like meditation, reading, engaging in a sport perhaps, that can help you periodically tune out and get back the energy, to re-invest in your venture.
- Bring on board a co-founder or employee partners
Initial funding for startups is always a matter of concern. Budgets are always stretched, and it may not be possible to hire the best manager for the job. However, there are options to bring on board someone as a co-founder or employee partner who will be willing to share the risk and reward with you. By building a great team around you that are vested in the venture, you can share your challenges and responsibilities. After all, no one person has ever built a company alone.
- Seek out a business mentor
One cannot stress enough the importance of having an advisory board of business mentors early on in your entrepreneurial journey. These are people who have experienced the path that you’re embarking on and just thinking through some of their insights can be invaluable.
- Prioritize Prioritize!!
As an entrepreneur, one tends to forget how valuable your own time is. I’ve seen so many founders make the mistake of not taking stock of their own time by delegating. And yes, it may not be done perfectly, or exactly the way you would have done it, but if the work gets done and it’s not your topmost priority then prioritize and compromise.
After all, as one of the most important people of your team prioritizing your mental health while working on achieving your next business milestone maybe worth evaluating.