Most small business owners feel some sort of stress related to their company. Some of this is good stress, which helps you to accomplish tasks and run the business. However, usually when we think of stress, we think of negative stress. This kind of stress that can eventually lead to burnout and suck the enjoyment out of running your business. It’s important to recognize that a business owner can experience burnout, even when their business is doing well. If you’re starting to feel overwhelmed and are losing your passion and desire to run your business, there’s a good chance you’re heading towards burnout and it’s time to combat it.
Are you starting to feel overwhelmed and find yourself lacking the energy required to handle your to-do list? When bad stress at your business starts to become unmanageable, you will find yourself getting frustrated easily, and carrying a negative attitude. As a business owner, you set the tone for the workplace, so if you regularly interact with the staff at your business, this can start to rub off on them as well.
If you’re burning out you may also find that it is becoming more difficult for you to make decisions. Thinking clearly about problems and staying focused may become increasingly hard to do. Your work performance may be suffering and you might start to feel like nothing you can do is good enough.
Being burnt out may also cause feelings of constant exhaustion. You might have trouble sleeping, even when you are very tired and may find that you rely on medication to get to sleep at night. You may realize that your business is always on your mind, even when you’re doing something else. This could lead to having a hard time being emotionally present with family and friends.
Any or all of these symptoms would undoubtedly lead to a lack of enjoyment in your business. It can also cause the business as a whole to suffer and trickle into other areas of your life. Whether you are seeing the signs of burnout in your life, or are starting to head down that path, it is time to take the proper action.
Stopping the Cycle of Stress
One of the first steps to beat burnout and business-related stress actually starts away from the business. Exercise and healthy eating are known to combat stress. Exercise helps to release endorphins, which are feel-good chemicals in your brain. It also helps to keep your mind clear and sharper for problem solving.
Make time to relax and separate yourself from work. Set a cut-off time for checking email and doing bookkeeping or other business oriented tasks. It’s normal to feel like if you don’t get something done you might fall behind, and you could find yourself wondering why you should rest when you have so much to do, but there is a point at which you simply cannot be any more productive. Don’t confuse spending more time working with getting more work done. You can get more done in less time by getting the proper amount of rest and disconnecting.
To help yourself get more done, it’s also critical to be able to delegate your responsibilities. If you’ve hired good people, it’s time to put your faith in their abilities to get things done. When you delegate a task to an employee or team member, trust them and give them the space to complete it on their own. Delegation is not useful if you find yourself constantly checking up on people and worrying if they are doing things properly. Recognize the abilities of each individual staff member and give them tasks that utilizes their strengths. Encourage them and nurture their abilities, so they can grow and take on more responsibilities within your company. This will also help to keep morale higher, and subsequently raise productivity.
Learn to manage your time. Prioritize your tasks and create plans for your goals. This may all seem like common knowledge, but it cannot help if you don’t put it into practice. It might help to create a schedule for yourself, so that you have specifically set aside time for your high priority items. Don’t get frustrated if your goals seem to be coming slowly. Break them down into smaller steps and then take them one step at a time. As long as you are setting aside a little time every day to work on your goals, you’re headed in the right direction.
Still Burnt Out?
If none of these tips help, or they do help appease your stress but you find that running your business is just not enjoyable anymore, it may be time to sell. Seller burnout is one of the main reasons business owners decide to sell. Despite what others might think, burnout is a completely valid reason for selling a business. This type of overbearing stress can lead to health issues and problems in your personal life. It can also cause the business to suffer and lose value. Selling before you find yourself in either of those circumstances may be the best route to take if you are unable to regain your passion for running your business. Selling your business can also give you the financial freedom to fund a new passion, or reach some financial goals, which can help invigorate you and give you a new outlook on life. Consult with an experienced business broker to see if selling is right for you.
Regardless of how well any particular business is performing, the sheer effort required to own and operate a business is enough to wear anyone out over time. However, this stress can be managed if you commit to taking the proper steps to stop burnout, or prevent it altogether. It’s also important to know that running a business is not for everyone. If you have given serious thought to the idea of selling or about moving on to the next stage in your life, it may be time to let go. Above all, it’s important for you to do what is best for your life and what creates enjoyment for you.
If you own a business in Southwest Florida and have considered selling, or maybe you just need advice on creating an exit strategy for the future, contact Corporate Investment Business Brokers in Fort Myers. We can offer sound business advice and help you plan for the day when you are ready to sell. The process starts with a free, no obligation business valuation.