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🍦 Breathe In, Stress Out
Conquer Stress, Thrive in Business.
Ben Nacca
November 16, 2023
Hey friend —
Running a business can be thrilling at times, but let's face it, it can also be a stress-inducing whirlwind. I get it.
That's why we're diving into the art of stress management today because, let's be real, we could all use a little more zen in our entrepreneurial lives. 🧘♂️
The Entrepreneurial Grind and the Stress It Brings
As small business owners, we're no strangers to stress. It's like that persistent background music we can't turn off. Whether it’s worrying about closing a big deal, preparing for an event or managing your bills or payroll, it can come at us from numerous angles. But here's the deal: stress doesn't have to be the boss of you. It's time to take charge and show stress who's the real CEO.
1. Acknowledge the Stress ⚠️
First things first, let's admit it—we're stressed. But acknowledging it is the first step towards managing it. Take a moment to recognize when stress is knocking on your door.
2. Identify Stress Triggers 😵💫
What's causing your stress? Is it a looming deadline, financial concerns, or just the overwhelming feeling of having a to-do list longer than an IKEA receipt? Knowing your stress triggers is key.
3. Take Mini Breaks 🚶♀️
In the hustle, it's easy to forget to breathe. Schedule mini-breaks throughout your day. Even a 5-minute breather can work wonders. Step outside, take a walk, or simply close your eyes and inhale positivity. You can use an app like Calm or Balance to help with this if you’re struggling on your own.
4. Delegate and Outsource 🫴
You don't have to be the superhero doing everything. Delegate tasks that don't require your specific expertise. Outsourcing can be a game-changer for your sanity.
5. Prioritize Self-Care 💆♂️
Yes, it's a cliché, but it's a cliché for a reason. Exercise, eat well, and get those precious Zs. A healthy body is a stress-resistant body.
6. Learn to Say No ❌
As business owners, we often want to please everyone. But guess what? It's okay to say no. Prioritise tasks, and be realistic about what you can take on.
7. Connect with Fellow Entrepreneurs 🍵
You're not alone in this journey. Connect with other small business owners. Share your struggles, get advice, and remind yourself that you're part of a supportive community.
8. Develop a Stress-Busting Routine 👟
Whether it's a morning meditation or an evening walk, find a routine that helps you release stress consistently.Maybe going to the gym, or cooking your favourite meal can help to get you in the zone once more.
Action Points
Identify one stress trigger and devise a strategy to manage it.
Schedule at least one mini-break into your workday.
Delegate or outsource one task that's been weighing you down.
Commit to a self-care practice you enjoy, whether it's a workout or a moment of mindfulness.
Practice saying no to one non-essential task this week.
Reach out to a fellow business owner for a chat or coffee.
Establish a stress-busting routine that suits your lifestyle.
Remember, stress is part of the game, but managing it is how you stay in control. You've got this!
To your stress-free success 😮💨
Question
No question received this week 😢 Click here to send in a question!
Here’s one I dealt with this week though with a client which I will anonymise and make a bit more generic;
What do we need to consider when buying another business?
Answer
The main thing is carrying out the due diligence. This doesn’t need to be done yourself and usually it’s best to involve your accountant and solicitors in the discussion.
Usually you want to be looking at the last couple of years of accounts - this includes the profit and loss, the balanace sheet and also a cashflow statement if available. Fixed Asset register is crucial if you’re buying a physical business with a premises and you also need to consider the staff that are there already. They will be covered under TUPE regulations (Transfer of Undertakings; Protection of Employment) so it’s important to know who is already employed and what their contracts and responsibilities are.
Lastly, the price - this can vary wildly based on demand, market conditions and how long you think it will take to make that money back. A highly profitable business which is selling due to retirement may command a higher fee than a business struggling to breakeven and so considering the price with the circumstances is vital.
Do you have a question for me and the team? Click here to send it our way!
“The truth is that stress doesn’t come from your boss, your kids, your spouse, traffic jams, health challenges, or other circumstances. It comes from your thoughts about your circumstances.”
Written and edited by Ben Nacca