Starting a business is challenging from the get-go, but running a successful enterprise involves daily tasks that many people don’t realize. From solving tech problems to working with payroll and taxes, the day-to-day grind of an entrepreneur includes repetitive activities and stressful surprises. Often far from glamorous, a day in the life of a business owner could be full of hair-pulling and teeth-grinding. Here are ten common stressors in the everyday life of an entrepreneur.
Entrepreneurs secure capital infusions before they open their doors, but they often need more money when they’ve officially opened. Finding a source of capital can be stressful for businesses that haven’t yet proven themselves financially viable.
Fortunately, entrepreneurs can work with limited capital partners to secure small business financing in a streamlined and stress-free way. If you’ve been pulling your hair out trying to secure next quarter’s budget, a capital provider like Advancepoint (https://advancepointcap.com/) could be the partner you need.
Fear of failure
Entrepreneurs go into business because they have an idea that they believe other people will want. These self-starters expect to succeed, but the fear of failure tends to take hold under the surface. As many small businesses fail within the first few years, the chance of going under is a significant threat. What stresses entrepreneurs is the many untold stories of failures among the few of immense success.
Focusing on failure can manifest it to happen, so business owners can help themselves by focusing on how to succeed rather than avoiding a loss.
Even if entrepreneurs have a team working for them, they often feel alone. The stresses of owning a business fall on the entrepreneur, not the employees. Choosing the entrepreneur path can be isolating, but entrepreneurs should know they aren’t alone in their journeys. Other business owners have been there and can share their experiences.
The idea of being an entrepreneur might be romantic, but the daily grind is far from it.
Entrepreneurs work more than forty hours doing repetitive and stressful tasks. If these hard workers cannot take a break or ask for help, they can struggle with burnout physically and mentally. Exhaustion can exacerbate the rest of the stressors, as being tired makes everything else more difficult. Take frequent breaks and work with a mental health professional to prevent burnout.
If your small business relies on other companies for success, their failures directly affect you. Manufacturing problems can create stresses that business owners never imagined. Having to rely on other people for your success is a part of the day-to-day grind, and it can be a precarious position.
When businesses also have to rely on logistics and supply chains, the stresses of trusting manufacturers increase. No one wants their business to fail because of someone else’s struggles.
Entrepreneurs have more commitments than most people. Many obligations related to the business can occur during the workday, in the evenings, and on the weekends. These commitments can conflict with life, especially with families and friends.
Entrepreneurs need to find some balance, and that struggle can be stressful. This difficulty in maintaining equilibrium leads to entrepreneurs needing help managing all their commitments.
Working with people
Working with customers can be a genuine joy for entrepreneurs, but it can also be an ax to grind. Customers can be challenging, especially if they all have individual demands that are difficult to meet. Entrepreneurs have to develop the patience to keep their stress levels low when working with clients.
Entrepreneurs also work with employees and vendors. When everything is good, working with people can be fun and rewarding. However, dealing with employee drama and vendor problems can increase stress levels. Teaching employees how to work through struggles and communicating clear expectations makes working with others less challenging.
Many people have deep fears of giving presentations and being in front of large crowds. Business owners often have to present their ideas and needs to audiences of all sizes, so they must learn to speak effectively in public.
Practicing in front of friends and family members can help reduce stress. People who have fears of public speaking can take classes or hire a professional public speaking coach to improve their skills. These stage-shy entrepreneurs can also work with mental health professionals to learn techniques that help them overcome their anxiety.
Balancing the emotions of owning a business
Owning a business comes with a plethora of emotions. Entrepreneurs often start a business because they want to make an impact but quickly find themselves performing menial, repetitive tasks. These little tasks can take away from the ultimate goal of the business, which can make entrepreneurs struggle with balancing their emotions and mental health.
Entrepreneurs create business plans and work hard to achieve their ideas. Unfortunately, unknowns often get in the way and slow the process. The stress of uncertainty tests the fortitude of all entrepreneurs forcing them to become creative when their minds might be in fight-or-flight mode.
Understanding what everyday stressors entrepreneurs face can help them face potential dilemmas with strength and grace. Stress is a part of life, and coping skills separate successful entrepreneurs from those who fail.