How do I figure out what's actually stressing me out?

Keep a stress journal and track your stress levels through the day, noting what triggers them. Take a few minutes each evening to ask what the most stressful moments were and what caused them. You can also ask trusted colleagues or mentors what they notice, because an outside perspective can help.

What's the Eisenhower Matrix and how do I use it?

It sorts your tasks into four quadrants: urgent and important, important but not urgent, urgent but not important, and neither. Put your time into the first two. That keeps you on the work that moves the needle so the less critical stuff doesn't bog you down.

What kinds of tasks should I delegate or outsource?

Start with administrative work, marketing and bookkeeping. Those can go to employees or freelancers. If you're struggling with something like financial management or marketing, hiring a consultant or coach is a smart way to bring in expertise. Handing work off frees your time for high-impact activities and stops you trying to do everything yourself.

What do I do when something goes wrong that I didn't see coming?

Have contingency plans ready for things like cash flow issues, staffing shortages or supply chain disruptions, so you already know your next move. When it happens anyway, put your energy into your response and your next steps. If a strategy isn't working, pivot: adjust your offerings, change your marketing or look for new revenue streams.

entrepreneurship ·Oct 21, 2024

How to Manage Stress as a Small Business Owner

by Drewbie Wilson

Running a small business is rewarding but comes with a unique set of challenges that can lead to significant stress. From managing finances and employees to meeting client expectations and dealing with market changes, the pressures can add up quickly. However, learning how to manage stress effectively matters for your health and for the success of your business. Here’s how to manage stress as a small business owner so you can stay focused, healthy, and in control.

Key Takeaways

Keep a stress journal or take a few minutes each evening to look back on the day so you can spot what's setting you off.
Set work hours and stick to them, and fit exercise, meditation or a walk into every day.
Sort tasks with the Eisenhower Matrix, work the urgent-and-important and important-but-not-urgent ones first, and hand off admin, marketing or bookkeeping.
Find other business owners and a mentor who understand what you're carrying, so you're not going it alone.
Write a plan B for cash flow, staffing and supply problems, and at the end of each day name what you got done.

Recognize the Sources of Stress

The first step in managing stress is identifying the specific factors causing it. Stress can come from many sources, including financial pressures, workload, competition, or even the fear of failure. By recognizing what's stressing you out, you can take targeted steps to address those issues.

Everyday Stressors for Small Business Owners:

Financial Uncertainty: Concerns about cash flow, paying bills, and staying profitable can be a significant source of stress.
Time Management: Juggling multiple roles and responsibilities often leads to feeling overwhelmed.
Work-Life Balance: The business demands can encroach on personal time, leading to burnout.
Employee Management: Handling employee issues, from performance problems to turnover, can add to the stress load.

How to Identify Your Stressors:

Keep a Stress Journal: Track your stress levels throughout the day and note what triggers them. This can help you identify patterns and specific stressors.
Reflect on Your Day: Take a few minutes each evening to reflect on the day. What were the most stressful moments? What contributed to those feelings?
Seek Feedback: Sometimes, an outside perspective can help. Ask trusted colleagues or mentors if they notice what might be causing you stress.

Stressed businesswoman with her head in her hands at a cluttered desk by a whiteboard

Develop a Stress Management Routine

Once you’ve identified the sources of stress, it's essential to develop a routine that helps you manage it effectively. This routine should include practices that help you stay grounded, reduce tension, and maintain a positive mindset.

1. Prioritize Self-Care

Example: Incorporate daily activities that promote physical and mental well-being, such as regular exercise, meditation, or just walking to clear your head.
Why it works: Self-care activities help you recharge and maintain the energy needed to tackle your daily challenges. Exercise, in particular, is known to reduce stress hormones and boost mood.

2. Set Boundaries

Example: Create clear boundaries between work and personal time. This might mean setting specific work hours and sticking to them or designating certain days as “no work” days.
Why it works: Boundaries help prevent burnout by ensuring you have time to relax and recharge outside of work.

3. Practice Mindfulness

Example: Start your day with a few minutes of mindfulness meditation to set a calm, focused tone. During stressful moments, take a few deep breaths to center yourself.
Why it works: Mindfulness practices help you stay present and manage stress more effectively by reducing anxiety about the future or regrets about the past.

Use Time Management Tools

One of the most significant sources of stress for small business owners is the constant juggling of tasks and responsibilities. Effective time management can significantly reduce this stress by helping you stay organized and focused.

1. Use a Task Management System

Example: Use tools like Trello, Asana, or a simple to-do list to keep track of tasks, set priorities, and delegate where possible.
Why it works: A task management system helps you stay on top of your workload, prevents important tasks from slipping through the cracks, and gives you a clear view of what needs to be done.

2. Prioritize Tasks Based on Urgency and Importance

Example: Use the Eisenhower Matrix to categorize tasks into four quadrants: urgent and important, important but not urgent, urgent but not important, and neither. Focus on tasks in the first two categories.
Why it works: Prioritizing tasks ensures that you spend your time on activities that truly move the needle rather than getting bogged down by less critical tasks.

3. Delegate and Outsource

Example: Identify tasks that can be delegated to employees or outsourced to freelancers, such as administrative work, marketing, or bookkeeping.
Why it works: Delegating frees up your time to focus on high-impact activities and reduces the stress of trying to do everything yourself.

Build a Support Network

Running a small business can often feel lonely, but you don’t have to go it alone. Building a solid support network can provide emotional support, advice, and even practical help when needed.

1. Connect with Other Business Owners

Example: Join local business groups, online communities, or industry associations where you can share experiences and advice with fellow business owners.
Why it works: Connecting with others who understand the business's challenges can give you insights and a sense of camaraderie, so you feel less isolated.

2. Seek Mentorship

Example: Find a mentor with experience in your industry or running a business. They can offer guidance, perspective, and support based on their experiences.
Why it works: A mentor can help you handle challenges more effectively and provide reassurance during stressful times.

3. Don’t Be Afraid to Ask for Help

Example: If you’re struggling with a particular aspect of your business, like financial management or marketing, consider hiring a consultant or coach to help you.
Why it works: Asking for help is a smart way to tap into expertise and reduce stress by making sure you have the right support in place.

Man in a patterned shirt holding a black notebook with "Adaptability Skills" written on it

Embrace Flexibility and Adaptability

Stress often arises when things don’t go as planned. Planning and preparation matter, and so does being flexible and adaptable when circumstances change.

1. Plan for Contingencies

Example: Develop contingency plans for potential challenges, such as cash flow issues, staffing shortages, or supply chain disruptions.
Why it works: Having a plan B reduces the stress of the unexpected by giving you a clear course of action when things go wrong.

2. Focus on What You Can Control

Example: When faced with unexpected challenges, focus on the aspects you can control, such as your response and next steps, rather than stressing over things that are out of your hands.
Why it works: Focusing on controllable factors reduces feelings of helplessness and helps you take steps to address the situation.

3. Learn to Pivot

Example: If a particular strategy isn’t working, be willing to pivot and try a new approach. This could mean adjusting your product offerings, changing your marketing tactics, or exploring new revenue streams.
Why it works: Flexibility and adaptability help you manage stress in a business that keeps changing, and they help you stay resilient when challenges come up.

Celebrate Small Wins

In the hustle of running a business, it’s easy to overlook the progress you’ve made. Taking the time to celebrate small wins can boost your morale and reduce stress by reinforcing the positive aspects of your journey.

1. Acknowledge Daily Achievements

Example: At the end of each day, take a moment to acknowledge what you accomplished, whether it was completing a project, landing a new client, or simply getting through a tough day.
Why it works: Celebrating small wins keeps you motivated and reminds you that progress is being made, even when the big goals seem far away.

2. Share Success with Your Team

Example: Celebrate team achievements with small rewards, like a team lunch, shout-outs during meetings, or even just a quick “thank you” email.
Why it works: Recognizing your team’s contributions boosts their morale and reinforces a positive and supportive work environment, which can reduce stress for everyone.

Take Control of Your Stress

You can take control of your stress and keep the resilience you need to lead your business successfully.

Want more help managing stress? My book, Call The Damn Leads, has more insights and strategies to help you stay focused, reduce stress, and achieve your business goals. Visit CallTheDamnLeads.com to grab your copy and explore additional resources designed to help you crush your sales targets and manage the business's demands.