Entering into a new business venture is exciting. A new venture is often compared to a child or pet, because of the feelings of protectiveness and closeness that can come as a result of developing a new idea. Just as a new little member of the family can cause a massive swell of anxiety to rise up, a new business venture can cause an enormous tide of anxiety to leap to the fore. Although some amount of stress is to be expected when you go after a new idea, the stress associated with starting a new business can be just as problematic as stress derived from other sources, and stress management is an important part of effectively managing your entrepreneurship.
Anxiety and Business: A Guide
Anxiety and business are inextricably linked. Any business, whether it is a new start up or a decades-old establishment, can be a source of stress. Owning your own business is a complicated and deeply involved affair, even if you do not cave to common business owner pitfalls. From taxes to managing employees, to determining how to correctly set your rates, working for yourself comes with its own unique set of requirements and demands, and those requirements and demands can create a great deal of anxiety.
While anxiety and business may be common bedfellows, living in a constant state of stress while owning a business is not necessary. What might initially seem like an unrelated issue can quickly spiral into a whole other, massive concern altogether, and your business can suffer as a result. Instead, you can employ plenty of techniques and practices that will effectively relieve anxiety and cope with any lingering stressors derived from the pressures of owning a business.
Techniques to Manage Anxiety
Common anxiety management techniques can be used to help ease some of the anxiety associated with owning a business, but there are some coping mechanisms that should be utilized specifically in response to business-related anxieties. These include the following:
- Learning to delegate tasks. It can be tempting to try to do everything on your own when you start a business. An important part of maintaining success and managing stress is learning delegation. Even if your business is selling vintage purses on a small scale, some time is being taken away from existing responsibilities and pursuits. Delegation will help clear some of the clutter on your metaphorical plate.
- Learning to say “no.” Being a start up or just starting out with your business can make it feel impossible to say “no,” but overpromising with a client will lead to more problems down the line.
- Taking your time. It can be tempting to try to take your business as fast and far as you possibly can, but remember that things that go fast often run out of steam. Take plenty of time to lay a solid groundwork, so that you can trust in the business you’ve built and rely on the safety of your own work.
- Planning for worst case scenarios. While it would not be helpful for managing anxiety to only focus on the worst case scenarios, building up a savings, or having a plan for every eventuality is important in going you peace of mind. If you are constantly maxing out your budget, or failing to set aside time and money for emergencies, your anxiety will likely ratchet higher. Plan for the worst to help support your mental health.
Managing Anxiety in Business
Some amount of anxiety is to be expected when you are beginning a new business venture, but anxiety does not have to rule the lives of everyone who decides to go into business for themselves. Using simple techniques to successfully manage your time, implement healthy business practices, and limit unpleasant eventualities, you can enjoy the beginning of your foray into entrepreneurship, without collapsing from fear and anxiety.
Marie Miguel has been a writing and research expert for nearly a decade, covering a variety of health- related topics. Currently, she is contributing to the expansion and growth of a free online mental health resource with Mind-Diagnostics.org. With an interest and dedication to addressing stigmas associated with mental health, she continues to specifically target subjects related to anxiety and depression.