A guide for minimising stress in start-up businesses
A collaborative post by Joseph Peake.
The idea of starting up your own business sounds like fun and games until it’s your own money and reputation on the line.
Then your blood pressure starts to rise pretty quickly, little beads of sweat form on your forehead and inconveniently drip down your face.
However, stress in start-up businesses can be effectively managed if you are clever about it. Read on to find out more.
Remember to do your groundwork
No matter where you look, it seems there are successful entrepreneurs everywhere, starting up their own companies and excelling online.
However, social media and blogs can provide a distorted view of success and the lack of stress in start-up businesses. Think about it – how many people really reveal their failures or state how much they are actually making from their online projects?
You get the impression everyone is coining it in, when in reality they are still in the non-profit stage, or even engaged in another activity to fund their business ventures.
That is why it is vital that you do proper groundwork and planning before you start your business. It is this that will create a strong foundation for success, minimising stress on you in the long run.
Remember, there is no such thing as free lunch, even in the digital age. If it looks like your business start-up idea could be turned around quickly and with little effort for a profit, just because others are doing it, it’s probably too good to be true.
Start looking for outside funding
Getting your funding sorted is something else that can really help relieve stress in start-up businesses. It allows you to move forward and minimise delays, which can be so frustrating when you have a fantastic idea for a product, and you just want to get it out there.
Acquiring funding from an outside source can also give you a confidence boost. It demonstrates that someone other than yourself and your mother thinks that what you are doing is a good idea and has potential for success.
Marketing to get you off on the right foot
Getting your marketing right when setting up a business is something that can save a lot of time. Also it can potentially filter the right kind of customer who are ready to buy.
The trick is, of course, to minimise unnecessary hassle and stress in start-up businesses by keeping things simple. Remember you don’t have to reinvent the wheel.
Peer to peer social media marketing has been proven many times that it works, and this is something that you can use with your own network and expertise. This makes it a lot easier for you without the hassle of starting from scratch or negotiating in an unfamiliar landscape.
Outsourcing is a good thing
As the main instigator of a start-up business, it can seem to you that you have to be good at everything. Presenting, marketing, IT and even making the tea. This can be pretty stressful for one person to take on, or even a small team.
Luckily, just because you feel you have to be a jack of all trades, this doesn’t mean it’s true. In fact, there really is no need to get overwhelmed with whatever is not your specialism when starting up a small business.
It’s worth remembering there are many experts out there ready to help you. All you need to do is reach out to them.
If you are looking for design, you can use sites like Peopleperhour and Fivver for single projects. Similarly you can use this gig economy for small IT jobs, or you can make the decision to go ahead and get IT managed services instead.
The latter definitely takes away the stress in start-up business security, data storage and reliability. Taking advantage of outsourcing valuably manages any stress you face when setting up your business.
Time, effort and quality are not the same
Finally, to keep those stress levels low, it is important to make the distinction between the time you spend on a job, the effort you put into it, and the quality of the end result.
Just sitting at your computer checking every email that comes in isn’t the best use of your time. And it’s not going to keep your stress levels at bay either.
Yes, it can seem like it’s your responsibility as a budding entrepreneur to be working all the time. But such conditions don’t always contribute to the best end product. This is perhaps something that successful business owners have on you, as they have learned this through time-worn experience.
So take look at your workload and see if there is any way you can work smarter, rather than harder. Or, if you do have to expend a lot of effort in one go, make sure it’s for a short period only, with plenty of breaks in between. All this can help prevent burnout.
Also, it’s essential that your work, however important, doesn’t overtake the whole of your life. Pay attention to your family, friends and loved ones. Take time off in the evenings to do something completely different.
Otherwise your business could suffer, because you lose the perspective and motivation that is vital to its success. You will end up being stressed and tied up in knots in a major way! Definitely something you want to avoid.
How do you manage your stress in start-up business?
Share with us in the comments below your tips and tricks you could pass on to others to minimise the stress in start-up businesses.