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Entrepreneurs, here’s how to handle the pressure of running a startup

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If you are running a startup and feeling overwhelmed with pressure, then you are not the only one, my friend. The journey of entrepreneurship is full of uncertainties and can turn out to be an extremely stressful one.  As entrepreneurs face a lot of challenges and deadlines, they risk suffering from numerous physical and mental health issues.

Sample the study conducted by the UC Barkley which shows that at least 72% of entrepreneurs report having mental health issues, including depression, ADHD, Bipolar disorder, or substance abuse. So, if you too are at a loss about why you feel so stressed as an entrepreneur, the following reasons could be contributing factors to your levels of strain:

 The Stress Factors

  • Fear of failure is always there for an entrepreneur. Media and social media go by the narrative of success all the time. As a result, you might often feel that the business owners who are successful today have never seen a day of failure. This expectation of winning every time creates a lot of pressure.
  • As an entrepreneur, you are probably trying to do too much at once. For a startup, the funds and resources are usually in a short supply. . As a result, the entrepreneur must wear many hats and take care of many things. This consequently leads to overwhelming work pressures and could possibly affect your mental health and overall well-being.
  • Not hiring the right team can have a damaging impact on the productivity of startups. Running a startup should not become a one-man show, but rather must involve the joint efforts of well-constituted team members. It’s only through the combined motivation and dedication of team members, a startup can achieve its desired goals and objectives.  This entails organizations should hire ones who have the vision and vigour to work for a startup.

Now that you know about all the stress factors, you are probably wondering how you can manage your stress. Just read on as we give you a complete lowdown of factors that can prove effective in managing the stress levels of entrepreneurs.

1# Have a Positive Outlook

First and foremost, you have to keep in mind that mistakes are inevitable and if one takes these mistakes from the perspective of a lesson, these can help you to achieve unprecedented success in your entrepreneurial ventures in the long term.  Looking at every setback from Opportunity Lenses will allow you to expand your horizons and focus on leveraging emerging opportunities.

2# Build the Right Support System

As an entrepreneur, you have to deal with an ever-changing business environment consisting of a dynamic interplay of a number of parameters. Entrepreneurs are responsible for making decisions on a number of parameters and this might impact their personal and social lives. In such a situation, it’s recommended to have a support system in place that will help you to tide over difficult circumstances in life.

3# Empower the Staff

Startups have many limitations in terms of constraints on money and resources. However, saving costs cannot help you if you get overwhelmed with too many responsibilities. As a startup owner, it is true that you have to work on multiple things. However, you can always empower your staff members so that they can take care of specific areas with their expertise. For example, you cannot focus on both production and operation at once. You will need someone to take care of the operation while you focus on the production that you’re offering to target audiences. Empowering the team will give you much-needed respite when the work gets too much during the launch and expansion phases of the startup.

4# Go for an Action Plan

As the owner of a startup, you might not have years of experience in the business. But you can manage the lack of experience with a foolproof action plan. Deliberate on how to develop the business plan, build the MVP, get funding, expand the product range, and so on. Do your research and make your decisions based on the facts and figures. Most importantly, make sure that you don’t delay in making decisions.

5# Maintain Work-Life Balance

There are entrepreneurs who advocate working 24/7 although, in reality, this is not a healthy choice. Burdening yourself with work might hamper your creativity and logical ability to make the right decisions. Instead, maintain a work-life balance and spend some time relaxing or doing something that offers you calmness and recreation.  Every day, take out some free time for yourself with the same diligence you would schedule a business meeting.

6# Follow a Wellness Routine

As an entrepreneur, you need to take care of yourself first. Only then, you handle the stress that comes with the territory. Following a wellness routine can be extremely beneficial for you. Practice meditation, do yoga, or just walk briskly to get your body moving. Remember, exercising is not only good for your body it also has a significant positive impact on the mental well-being of the person.

Undoubtedly, the times are challenging for entrepreneurs and for that matter, the entire business ecosystem across product categories and service domains. But remaining afloat is not that much difficult. In fact, if you work according to a well-conceived plan, build your network, and keep learning from mistakes, you will surely establish your startup in the market and carve a place in the hearts of the people.

(The author is Mr. Sanjay Sehgal, Founder, Chairman and CEO, MSys Technologies, and the views expressed in this article are his own)

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