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Wednesday, May 03, 2006
Dealing with Pressure and the Home Business Entrepreneur
What is the most effective way to deal with the anxiety that a home-based business entrepreneur experiences? The quick answer is to realize that this is part of being a business owner and that you will need to adapt to learn to live with it. The anxiety will not go away overnight and you may be experiencing it for years as you look at the variations in the profit/loss margins that occur with starting a business and moving to a place where it is stable and successful.
Many people are drawn to the idea of being self-employed, and not having to work for a boss. It is easy to imagine that there are many freedoms with this type of business. They sound find out, however, that being self-employed is not a piece of cake. Self-employed persons will typically be working long, hard hours for a few years as they try to get their business on its feet. The difference in being self-employed is that everything rests on your shoulders. When you were working for someone else, you had to deal with things you probably did not want to but the entire weight of the financial success of the company was not your concern – now it is. You are now concerned if there will be enough profit to pay your employees, your vendors, and your bills.
Remember that simply because you are feeling pressure does not mean your business is going to fail. It simply means you are now in business for yourself and are facing the same pressures that all business owners experience at some time or another. Anxiety can be a great motivator, at least for awhile, if it is not too intense or if it does not go on strongly for too many years. You may wake up and not want to work, or you might prefer to make an early round of golf, but instead you realize that if you choose that you will only be making it more difficult for yourself and you will lose money as opposed to making money. I would actually be more concerned if you started a new business and had absolutely no fears at all--whether due to naivety or arrogance or denial, that has a great chance of leading to failure.
So how do you deal with the anxiety? Make sure you have a financial plan. Talk to those who are involved in your business and make sure everyone knows the goals. Talk about the risks and whether or not they are worth taking. Do not stick your head in the sand and pretend they do not exist – they do and you need to face them head on and when you do, your anxiety will lessen. But until you amass a small fortune as a nest egg, I doubt it will ever completely go away.
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visit HomeNetMonies.com today.
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