The decision to start a new business is courageous, daunting and stressful. The reality of the start-up, though, is that it can be stressful, even depressing. Working with a shoestring budget, with mostly only yourself to rely on, can lead to days of euphoria, amidst days of angst.
Learning how to cope with the tough days is a testimony to your newly developing leadership skills. But there are ways to take the edge off, ensuring you manage your stress better.
Founder, owner, manager stress
Everything about your start-up starts and ends with you. Responsibility levels are intimidating, along with the massive workload. You might want to delegate, but there’s not enough money to pay for help.
All the grind rests on you, whether your start-up ends up as a failure or a success. That’s a lot to place on any one person’s shoulders, but the reality is that people do it all the time. Some do create successful start-ups; others don’t make it.
The temptation to burnout
You know everything is riding on your efforts and your investors money is at stake. It’s tempting to just keep going, no matter the odds. Admirable or neglectful, this attitude can make or break your budding business.
You can reach burnout point before the business is even established if you think that you’re superhuman. Learn how to achieve a balance between work and rest. Set boundaries.
Learn to take care of your needs
Eat a healthy diet, between practicing intermittent fasting, which is an excellent way to get the energy sources you need to keep going. Use helpful life apps to practice healthy fasting, and to avoid ‘wasting time’ with regular meal times.
Choose to follow a 5-stage fasting method recommended by Lifeapps.io that promotes longevity through fasting, to achieve the balance you need for success. While on the subject of diet, put time aside for exercise. Your start-up has a greater chance of success when you factor in all your personal needs.
Entrepreneurs and mental challenges
Studies show that close to 50% of entrepreneurs are prone to development of a mental health problem like depression or substance abuse.
Research also demonstrates that the same issues that drive entrepreneurs to mental health problems are the same traits that create business success. Traits include creativity, being empathetic, long-range vision, flexibility, and the ability to multi-task.
The fear of failure
Fear of failure and blurring the boundaries between the individual and the business go hand in hand. Separate yourself from your business, and take a step back to look after your health if you wish to succeed.
Build a life outside of your business. Socializing not only relieves stress but creates a reliable network to shed stress when needed. Failure becomes less terrifying when shared with trusted friends, as they help to provide perspective. Take a step back.
Founder uncertainty, financial risk, and isolation
Being a business founder comes with enormous uncertainty. Assets are on the line for you and your investors. Stress can be enormous, placing you under additional risk of self-isolation. Not sharing your concerns with others, increases anxiety levels. Establishment of healthy ways to deal with start-up stress are needed from the beginning.
Determine how much you’re prepared to lose financially, and evaluate whether you are able to live with this loss. Do the same exercise in terms of your investors. Investments are often sourced from friends and family members – creating an even greater potential for stress.
Be upfront and honest with your investors when accepting their money. Inform them about the financial risks involved and manage this situation on an ongoing basis. Most importantly, aim for balance because you won’t benefit your start-up if you’re not healthy.