The Emotional Side of Entrepreneurship: Handling the Pressures of Business

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by: Dr. Sharon Harvey

Nov 28, 2008

As entrepreneurs, we are excited by the prospect of owning a business or even several businesses. Adrenalin flows as we go through the preparatory steps which include listening to the advice, and sometimes dissuasion, from mentors, family and friends, as well as handling the legal, financial and administrative paperwork which comes as part of the package. While these initial stages of running a business can be euphoric, what are usually concealed are the pressures affiliated with being an entrepreneur and the positive and negative effects that unfold in this scenario.

One of the main negative effects in the business world, which is highlighted in the entrepreneurship arena, is that of stress. Symptoms like irritability, excessive worry, insomnia and irregular sleeping patterns all lead to the weakening of our ability to cope. Soon, the entrepreneur may find himself in a precarious position where concentration, creativity, physical and emotional health are in decline, which would ultimately have a direct effect on business productivity.

Some of the recurring worries that the entrepreneur has, may range from the sustainability of the business venture and the consequences of debt, to familial responsibilities and pressures since the start-up process in any endeavour can usually require a significant investment and loss of personal time. .

Whilst there is no medical prescription that can cure stress, there are some skills that, if implemented would help manage the overwhelming feelings of fear associated with stress. Being proactive and facing the stressful situation, instead of ignoring it until the consequences are out of control, is probably the best advice you can receive.

While handling these and related stresses, also remember to:

Laugh out Loud!-Do not just type it in your chat window during the day as “LOL”, but actually dig deep into your soul and share a joke with your employees and clients. Try to see the humour in challenges that may arise and most importantly try not to take yourself so seriously, after all, laughter is the best, and least expensive medicine on the market!
Create “To Do” Lists-Take charge of the situation at the beginning of the day by taking a few minutes to prioritize and organize the tasks and projects for the day. While some entrepreneurs have the luxury of determining their hours of work, ensure that these “business hours” are clearly demarcated and a time sheet compiled to track your chargeable hours throughout the week.
Network, Network, Network!-Cultivate and maintain both your professional and personal contacts as it can sometimes be a lonely path to realizing your entrepreneurial dreams. Try to arrange both business and social meetings regularly to create opportunities for increasing your network and knowledge database. Remember that everyone you meet can be a potential partner, client or quite simply a friend.
Get Physical-Do not underestimate the value of exercise. Establish and maintain a fitness programme which does not have to be expensive. As an entrepreneur you should be able to implement creative ways of keeping fit such as dance classes and walks on the beach especially if gyms are not your preference. Exercising not only has all the medical benefits we hear about, but you look and feel great too!

As an entrepreneur you are your most valuable business asset and you need to be treated as such. So while entering this realm can be exciting and rewarding, there are also many stressful moments which can affect your emotional stability. Ensuring that there is balance in both your professional and personal lives is one of the greatest challenges you will have to overcome as an entrepreneur and the rewards are immeasurable.