Most of us have days when we feel stressed out and overwhelmed by all the tasks we have to do. For entrepreneurs, this feeling can be constant and severely affect their business and livelihood. Mercia le Roux, Deputy Programme Director of His Biz, an entrepreneur support programme, says analysing the causes of stress and implementing changes in attitudes and actions can help entrepreneurs to cope. She suggests the following strategies:
Cultivate your support structure
The road is so much easier to travel if you have companions. Look for people who you admire and who have the skills and experience to mentor and support you.
Find your direction and your focus
Some entrepreneurs try to run three or more different businesses at the same time, but because of their lack of focus, their ventures tend to struggle. You need to find the one thing that you’re passionate about, solves a customer problem and that has the best chance of success. Then focus on that and give it all you’ve got.
Plan and manage your time
If you are feeling overwhelmed by all you have to do, sit down and make a list of everything you need to accomplish. Then indicate which tasks are important and which ones are urgent. Prioritise and plan to do at least one important thing per day, then focus on some of the urgent things and, lastly, one of the other not-so-important-not-so-urgent things. Make a to-do list every day if it works for you.
Understand your customer
Identify the type of customer who will be willing to pay you the right price for your product or service. Have a picture of your customer in your mind (you can even give them a name…) and test all your decisions and actions against whether it will work for your customer. Remember that your typical customer can change, so be ready to adapt your picture as you learn more.
Make money
Not making money is, of course, a great source of concern for any entrepreneur. If your business is struggling, try to go back to basics of whether you’re solving the customer’s problem. Perhaps you need to have fewer products or services. Perhaps you can save on costs by downsizing your office space. Perhaps you can try a different marketing or sales tactic. Whatever it is, focus on keeping track of money in and money out and find a way to make it work!
Don’t neglect your health
Having your own business can be all-consuming, but you need to make sure that you stay healthy. Exercise, eat healthily, spend quality time with your family and rest properly. You’ll be amazed how much energy you can gain from these things.
Be still and reflect
In the craziness and busyness of running your own business, it’s often difficult to find the time to be still and reflect. But it’s in those times that you find your purpose and the ideas to make your business a success. Don’t neglect the quiet times.
Have courage
It’s normal to be anxious or fearful as an entrepreneur. After all, you don’t have the luxury of an assured salary every month. Don’t lose heart, brave adventurer! Surround yourself with people who can encourage you. Take time out to pray. Look back at all the amazing things you have achieved and have faith that you will do similar and even greater things.