[Question] How to work with the stress of business ownership

[AmithS]

Hello Everyone,

Just looking for some taughts and views on the following,

As we all know owning your own business comes with alot of stress.

I have worked in very demanding positions in my career and long hours. It has been 2 years this month since I ventured out on my own. I haven't had a proper break ever since.

As some of you will know I am also working on my latest venture now Singh Management Solutions.

The problem I am having is that I just cannot get my self to focus and get the things I need done done, I feel like I am losing steam!!!

I normally cope very well with stress and work best under pressure. However this time I feel I need some different intervention to get going again at full steam.

Any tips\suggestions\techniques are welcome as I think most new business owners learn at some point that the stress of owning your own business is very different from that of even a demanding career!

[Dave A]

Depends where the problem is.

The main areas that come to mind are:

Goal setting.
Effective use of time.
Pre-occupied with non-productive issues.
Procrastination.

Any of those strike you as relevant to your struggle at the moment?

[AmithS]

Hi Dave,

Its a combination of things at the moment.

I think the biggest from you list would be Pre-occupied with non-productive issues\Procrastination.

I find myself spending time on things that I shouldn't be spending my time on and not being able to focus and get the things I need done done! I feel this comes about from the financial stress that I incurred at the start 2 years ago that still bothers me alot till today I guess. Instead of working on the goals I have set, I tend to worry more about when and how I am going to realise my efforts!

I dont know is this makes any sense at all

[Dave A]

My short answer is get the book Success for Dummies by Zig Ziglar. It is absolutely loaded with techniquey tips.

I'll get to a longer answer on stuff that works for me after practicing one of my personal ones - trying to keep a regular sleeping habit

[Newretailer]

I will be watching suggestions with interest. Right now I have taken a huge leap forward and have more to do than there are hours in the day. If there is just too much to do, I find I lose my efficiency. I do find making lists and prioritising really helps me. I try and keep the saying How do you eat an elephant - one bite at a time in mind.

I have often thought how good it would be to have a business buddy. Someone who lives close to you who is in a similar but not competing business. One could meet up every 2 weeks and really discuss everything in depth to get clarity and regain focus. I have tried larger groups like that but it didn't work for me.

[Perform Computers]

My biggest problem is being alone, per say. When I worked for a boss, we would all go out for the day, do our sales or meetings or presentation, and get back to the office at 4pm.

Then there's that hour of discussing what you did, laughing, making jokes before home time. Running your own business as a sole prop, you just don't have that. You don't have that venting option or boasting option when closing a deal when the day is over.

All that's waiting for you, are four walls. THIS is what makes me extremely depressed.

Any thoughts / views would be welcomed. But yes, I know EXACTLY how you feel, and it's a crap feeling!

[wynn]

Being lonely comes with the 'Solopreneur' territory, there are a few options if it really drives you mad!

1) Be on TFSA and other forums more, between work and coffee breaks, log in, you can stay in touch with the outside world.

2) Go to 'Head Office' (your local M&B or News Cafe) a good place to meet clients, there are also bound to be others like you there that you can share anecdotes with and hear the latest gossip and jokes.

3) (A slightly more expensive option) Rent a seperate office or desk in a cubicle at one of the 'Multi tenant Offices' where you share the expenses with other renters (mostly 'Solopreneurs' like you) here you have an address with a PO Box number, a dedicated landline answered by a shared receptionist, answering service, typing, filing, book keeping services and you can book boardroom facilities when needed, with or without catering.
When you aren't busy you can stand around the water cooler/coffee machine and chew the fat with other tennants.
This is a good option if you need the dicipline of going to the office every day or to feel like you are working in a company, or if you need the front of having an office for your type of business.

[Newretailer]

PC, you eventually get used to that feeling. It took me a good 18 months before I started getting over my extreme sense of loneliness. I still have my days and then I meet my friends and ex-colleagues for breakfast at M&B.

Good tips Wynn.

[Perform Computers]

wynn, fantastic reply, thank you.

Where does one find these Multi Tenant Offices? I googled, no luck

New: Yea, I guess you're right.

[tec0]

Well, I find that stress comes around when things don't happen to plan or when things go slowly. Regardless the effects are the same;

Eat to little or too much
Sleepless nights
Constant questioning in your own mind.

Second guessing yourself working on plan X, Y and Z just for encase and then as always "the worst case scenario" thought; how much you stand to lose if something goes horribly wrong.

How am I doing so far?

In most cases positive thinking and planning pays off but once you are your own boss the world change. Every detail is important and you have constant accountability.

I would recommend fishing. The fishing part is not important, the important bit is to do as little as possible "this include thinking" Create an artificial infatuation about keeping your fishing gear nice and pristine and allow yourself to be occupied with the little things.

That way you create an escape for the mind. That is actually the important bit. The body can also relax but this escape is really for the mind.

Fishermen tend to be social so you will always find someone to talk to make some friends.

And remember if you can spend that time "doing nothing" it is time well spend.

A friend once said "Work hard and rest like a lizard" something like that

[wynn]

Where does one find these Multi Tenant Offices? I googled, no luck

http://www.regus.co.za/business-centre/south-africa/cape-town

http://www.vo-sa.co.za/default.htm

http://www.officereliance.co.za/services-small-business/virtual-office.html

http://www.habitaz.co.za/web/

[Blurock]

Any tips\suggestions\techniques are welcome as I think most new business owners learn at some point that the stress of owning your own business is very different from that of even a demanding career!

Join a networking group or form a new one with business buddies or friends. Networking without the selling motive can be very rewarding as it gives you the opportunity to reflect on what the other guys are doing. (right as well as wrong)

Just being able to talk to people with the same problems and frustrations sometimes breaks the stress and the monotony of working alone. Eventually someone may be interested in what you are doing and you may even pick up some referrals.