Stress at small businesses is more intense than usual this year as numerous disruptions continue. With so much out of their control, company owners have to find ways to keep their anxiety in check. Especially during the holiday season.
Coping strategies vary, but some owners say fine-tuning their operations or merchandise eases some of their concerns. Self-care and downtime with families are also stress busters. And keeping a realistic outlook about what they can and can’t control gives owners peace as well. For those who are worried about what lies ahead, there are ways to manage your mindset – and help your business get through tough times.
1. Minimize the impact of the bottlenecks.
Small business owners who develop a strategy to deal with the ongoing problems are more likely to have an easier time, not only during the holidays but also in the upcoming year.
What are the bottlenecks for your business? What is your strategy to minimize them?
2. Not enough workers? Scale back your expectations and your business.
Owners are learning how to keep working despite continued labor challenges. For some, it means keeping their business smaller until they can fill job openings.
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3. Look beyond the short term and focus on the long term.
Does your business make a substantial portion of sales during one period of the year (maybe, the holidays)? The uncertainty of the economy is forcing some to take a more holistic approach, concentrating on revenue opportunities throughout the entire year.
What is your plan for the upcoming year? How will you achieve your goals?
4. Take heart – everyone’s struggling.
The pain points are universal – labor challenges, inflation, and shortages affect companies across industries. Owners can take solace in the fact they’re not alone.
5. Avoid burnout with self-care.
When faced with circumstances beyond their control, owners look to a work-life balance to help them with stress — they know when to put the business aside and spend time with their families.
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By relying on the qualities that small businesses are famous for — perseverance and resilience — it’s possible to ease the stress and stay optimistic.
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