Entrepreneur Resources Your source for small business information
There is a huge attraction to entrepreneurship for obvious reasons, with the freedom it gives people being at the top of the list. But make no mistakes, entrepreneurship is incredibly hard, tough, challenging and, above all, immensely stressful.
You’re in charge of leading people, paying people, decision-making and affecting your company’s bottom-line with every twitch you make. All that and we haven’t even mentioned the risk factor, which is likely to be high given you have likely put a big chunk of change into your business.
To give you a tad more enlightenment, though, here is a list of stressful situations that all entrepreneurs hate with a passion:
Trying To Get Their Hands On Money
Money is what keeps all businesses going. It is why people go into business in the first place. It is what, as unfortunate as it is, keeps the world turning, and trying to ensure there is enough cash in the account is what stresses entrepreneurs out more than anything. You have rent to pay, employees to look after and utility bills to afford, and that can be frantically searching for loans, lines of credit and/or investors. It’s stressful.
Everything Waits For One Person
Yeah, being the entrepreneurial founder means being the bottleneck of everything. Every decision will go through you at the beginning and that can be a testing amount of pressure. What could seem like a simple decision to someone else could be a decision that drastically affects your financial stability. It could be a decision about partnering up with an agency like ldseosydney.com.au to reduce the pressure on your marketing team. It could be the decision to approve a certain deliverable that holds mega weight with your main client. It could be the decision to have to cut some staff to save costs. Whatever it is, it all lands on you, and that stress has often been described as crippling.
Stay Calm And Carry On
An entrepreneur is a leader, the person everyone looks to for answers, for clarity and transparency, for guidance and miracles, and that is a stressful position to be in. You have to battle building pressure and expectation by staying calm and collected, positive and focused, even though your company is nearing crunch time. If you stress or freak then others will stress and freak, and you need them to perform optimally in order to succeed. But keeping up appearances can be one of the most stressful things anyone can ever go through.
Keeping Hold Of Your Best People
When you are an entrepreneur and owner of a small business, your employees are just as important as you. As www.forbes.com states, they can be the very thing that sees your company grow and they can be the very thing that sees your company fold. It becomes a matter of trust and reliance, so when you find those employees you can trust and rely on you need to do your best to keep them. Keeping them when things aren’t going well becomes a huge stress, though. The reason for this is one departure could collapse a whole business. One departure could open the floodgates and see an entire operation become disrupted, and that is a stress-causer if there ever is one.
