You have decided to fill your entrepreneurial dreams of starting up your very own business. Congratulations! It is an exciting adventure but obviously one that is full of risks. 70 percent of all start up businesses fails within the first seven years. However, 30 percent don’t! You are probably aware of all the risks and this can create a high level of stress.
Managing this stress is key while getting your business off the ground!
Building a stress plan is almost as important as your business plan. Inside this plan needs to include many important things from techniques to cope with living with uncertainty, relaxation exercises and ideas to help deal with your emotions.
Below are some suggestions to help you stay focused, breathe and get through the hard and difficult times with a start up business.
- Take care of yourself – this is essential! If you are unhealthy, you are not going to be good for anyone including the business. Eat as healthy as possible, exercise and get enough sleep. Yes, those things can be difficult when you are going ninety to nothing but they are extremely important.
- Understand what you can and can’t control – I definitely like this suggestion from an article in entrepreneur.com. “Entrepreneurs need to acknowledge that there will be times when they won’t be in control of everything. Look at other places where you can be in control – leisure activities, taking an afternoon off.”
- Choose a daily relaxation technique – this is different from your regular exercise routine. Rather, when you begin to feel the burden and stress of the business start to weigh you down; meditate, relax and breathe! Tensing your muscles for five seconds and then releasing is one suggestion!
- Simplify as best as possible – Sit back and think what you must have in order to make this business successful. Don’t do unnecessary things or stress out over stuff that really doesn’t make that huge of a difference. Sometimes this takes trial and error to know what will work or not but when you see something is not that important, get rid of it.
- Communicate and Delegate – Two highly important steps to take in making a business successful. Failing to communicate properly is a problem for many and a downfall for a lot of start up companies. Make sure you thoroughly let customers, business partners and vendors know exactly what is going on through phone, email or whatever method you have chosen. Also, don’t hesitate to delegate responsibilities to someone other than yourself. There are people out there that can actually do things as well as you! Perhaps you are not great at marketing, give that to someone who is.
These are just a few of the stress busters to help you as you work hard at making a success out of your start up business. If you have any other questions or concerns regarding various business related issues such as should I form an LLC or an S corporation, please feel free to browse our knowledge center and blog.
And if you’ve been asking the question “…where can I form my LLC?” lately, MaxFilings is available for all 50 states and only takes a few short clicks. Click the link above for more information.