How to Deal with the Stress of Starting Your Own Business

If anyone says that starting your own business is easy or relaxing, they are lying. It can be a long and difficult process but the payoff can be more than you ever imagined. Having your name on the company and being responsible for it’s future is a big risk but if you do your research, have a great team around you and perform a few of these tips below, you might just make it.

1) Believe in Yourself
        Beginning in the business world is a scary endeavor. There will always be a bigger company with more experience and more funds to possibly run you out of town. But you started your business for a reason, remember? Maybe your product is healthier or safer. Maybe your service is easier or better for the environment. Whatever the reason, you wanted to make a difference with your business model and you thought it was successful. And if you found lenders or investors, than that means that others thought your idea would be successful as well. Remember these facts when you have bad days or slow weeks at your business, because there will be those, but if you don’t continuously believe in yourself or your business, how do you expect others to do the same? If you keep your passion, others will recognize it and want to work with you.

2) Never Stop Promoting
        When you open your own company, your first order of business should be to let people know that you are there and you are open. If that means finding a marketing agency to work through, using social media profiles or print and television ads, you have to begin promoting yourself. Depending on the type of business you are, you should have a focused, marketing strategy for your company. For example, if you are opening a new neighborhood New Orleans wine bar, you should let the local residents know, then use other forms of marketing to let others know about daily specials, bands and entertainment nights or any other pertinent information. But once you begin promoting, never stop. Always have cards and information to relay to new customers. You have to keep your name out there for people to stay interested and informed.

3) Don’t be Afraid of Debt
Everyone knows that opening your own business requires money and a whole lot of it. Opening your own business can cost anywhere from $20,000-$100,000 respectively and unless you have that kind of capital from other ventures or a trust, then you are likely going to incur that amount in the form of debt. The strain and stress from debt and collection is often what causes the most anxiety in business owners. Just know that you may be seeing those high credit bills for at least 2 years after your business opens as it usually takes new businesses that long to turn a major profit, but if you are at least breaking even during the first year or two, you are doing pretty well.

4) Have Outlets for Stress
        If you are feeling particularly stressed by the responsibilities of having your own business, you cannot let that stress overtake your life. It can be detrimental to your personal relationships, your family and your free time. Finding beneficial outlets for stress will be one of the best things that you do for yourself. Some use exercise, some find new hobbies, new activities to try, whatever the outlet is, be sure to recognize that time as a stress reliever. You need to have outlets, or else otherwise that feeling of being overwhelmed with stress can overtake your life and bleed into your business life as well.

This post was written by M.G. Bachemin in association with Pearl Wine Co. She’s a supporter of small businesses and entrepreneurs.

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