How to deal with stress: 8 practical tips for entrepreneurs

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Stress can be a productivity killer. These tips can help you relax and become better at what you do

Entrepreneurship can, indeed, be a stressful situation for anyone. People would be handling teams, making tough decisions, and a lot of other responsibilities, which can be pretty overwhelming. I decided to ask a few entrepreneurs how they deal with stress. The level of stress increases with the number of responsibilities right from expanding a business into a new market to struggling to keep family commitments.

As entrepreneurs, it is extremely vital to focus on ways to reduce stress, so that you and your business can stay healthy. Amazon CEO, Jeff Bezos, says that taking action actually reduces stress. Meanwhile, Steve Jobs, CEO of Apple, practiced a kind of meditation that involved sitting quietly and observing people. Well, I practice both depending on the situation.

At times, I really do not understand what to do when things are going overhead or there is too much to do. But I try to prioritise things and then begin knocking off one by one. This way of action actually reduces stress.

According to a report by Gallup-Healthways Well-Being Index, nearly 45 per cent of entrepreneurs expressed that they often feel stressed.  Well, operating a business isn’t a piece of cake, but it should not be at the cost of our health.

As per the answers that my interviewed entrepreneurs gave, below are a few ways how we can deal to reduce stress:

1. Automation

Automating as many processes as we can not only make us feel stress-free but also can enhance and streamline the whole business. One fine example for an app that can help with this is Wasp. An inventory management software that will help us in eliminating inventory write-offs, conducting audits, and a lot more beyond that.

2. Exercise

Exercise is a proven stress-buster. I personally think that it is more effective way than any other. If anyone finds that handling or managing their business is leading to stress, then probably it is time for them to evaluate their exercise and workout tactics. ADAA (Anxiety and Depression Association of America) says that exercising is an essential component of good mental health.

Also Read: 4 reasons your startup needs a mentor

So let’s take time in our everyday routine and start doing exercise for at least 30 minutes. We can also consider joining group classes or download fitness apps; That will give us a great motivation.

3. Work-life balance

We must ensure to maintain a good work-life balance. I know it is tough. Using smartphones, tablets, and other digital devices has made impossible to take some time off from work, but to maintain a healthy life we indeed need to manage to get away. Switch off phones and don’t check emails at certain times of the day or week. Unplugging ourselves from work can make us more effective the next day when we go back to our offices.

4. Productivity mobile apps

As pretty much everybody owns a smartphone nowadays, there are tons of mobile apps available both on iOS and Android devices to help entrepreneurs run their business efficiently. Those apps will assist us to stay organised, improve productivity, and control finances. Business owners can also develop a mobile app to make things easier for our customers and clients, giving them better accessibility even while on-the-go.

5. Don’t make it a one-man-show

I aware of the fact that the entrepreneurs are in charge of various types of roles and responsibilities. However, that doesn’t mean we should only be the one who takes care of every single thing. Be sure to ask for assistance in case if things are out of hands or hard to handle and sign those tasks to experienced professionals in the team.

6. Find funding sources

Whether exploring for root funding for businesses or want to acquire funds for expansion purposes, financial issues have always been a stone in the throat for entrepreneurs. There are dozens of funding sources to finance a startup business to run its operations smoothly. Do not forget that funds are limited so be very wise and allocate properly. This way, anyone can overcome the stress that gets because of financial problems.

Also Read: 6 essential tools for enhancing team and product productivity

7. Never get obsessed with competitors

It’s very common for entrepreneurs to keep tabs on their peers and their success in the market, and some even get stressed about what peers’ next move is but if this becomes an obsession and that it might lead to stress. I am not saying not to compete at all with competitors but to always maintain a healthy competition. Focus on customer experience and how to improve products or services that can improve the business growth.

8. Retain excellent talent

By the time entrepreneurs realise the value of a team member, they would be long gone. The team is an important asset for any business as it can make or break it. Once we hired a person for a work, trust and appreciate him/her. One of our biggest stresses becomes exploring what it takes to keep them within our team. And also they can go a long way in the future, and such gestures motivate them to do their work more effectively.

How do you reduce or eliminate your stress? If you use, have been using, or used any other ideas that help you overcome stress, then do let us know in the comment section below.

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