Small businesses are formed every single day, but very few of them succeed because they don’t avoid small business burnout. Even fewer make it big, and even less turn out to be the next Apple, Amazon, or Google.
According to the Small Business Association, 30% of all businesses fail within the first two years, 50% fail within the first five and 66% fail within the first 10. Still, there are ways to avoid small business burnout and keep your business going.
This is the first thing that any entrepreneur should do. You need to realize that organizing your manpower, skills, and resources is the key to running any business.
As a small business owner, you have limited resources, so you can’t afford to get sidetracked by working on every single project that comes their way all the time. Hence, you need to prioritize the most important and beneficial projects first, instead of completely focusing your energy on multiple projects at the same time.
These resources include manpower, electricity, devices, etc. You need to save on every little thing when you’re running a small business so that you can maximize profit and minimize resources.
Schedule Down Time
“I have a full plate” is a common expression among workaholics, but everyone needs to unwind and have some downtime once in a while. This doesn’t mean that you can work the entire weak and just rest up on the weekend, but rather you should take out time every single day and rest so that you can refuel.
One way to do this is to schedule breaks for your employees and yourself in between your work schedules. During this time, you and your employees can relax at your/their discretion. Keep in mind: this has to be apart from the lunch break that all the employees have. The lunch break is reserved for eating. Personal breaks need to be for everyone’s personal time.
Know Your Stressors
There are things that you probably don’t love at your job. Even if you love your job to death, that doesn’t mean that there aren’t things that irritate you or make you procrastinate. Then it takes longer to complete the tasks, making them more painful than you imagined them to be. This is not a good way to tackle your problems.
Instead of putting them off, you need to identify the stressors that make you hate your job and get them out of the way as soon as possible. This way, you can save up time for things that you like doing and focus on them instead.
It takes a village to raise a child, and it takes a village to get a small business up and running as well. If you want a small business to function like a well-oiled machine, then you need to delegate responsibility to people.
You need to acknowledge your weaknesses and play to your strengths so that you can line up support in those areas. If you learn how to delegate effectively, then you can get the best troops to do the best work for your business. If not, then your options are to either get new employees or to outsource your crucial tasks to virtual assistants.
Say No to Some Things
There are some things that you’re just not equipped to do well. You need to acknowledge that. It’s tough to say no to work that pays well, but you can’t supply every single order that comes your way. Instead, do the work your client asks extremely well. That’s how you get repeat clients and retain the best business.
Set Work Hours
You need to rest and relax every once in a while. Otherwise, you’ll end up biting off more than you can chew. To avoid small business burnout, stick to a schedule. If you set standard hours and stick to them, then that means when you’re done, you can relax and refuel for the next day.
Peek at Your Successes
It’s not a bad idea to toot your own horn every once in a while. It’s a good idea to revisit where you’ve been and how successful you’ve been at your best. This will allow you to evaluate whether your personal goals have changed since when you first started. It’s helpful to acknowledge how far you’ve come so that you can approach your new goals with renewed vigor.
When running a small business, there are multiple things you can do to help your business thrive – or contribute to its failure. To avoid small business burnout, consider outsourcing and hiring a virtual assistant. He/she can ease the burden on your shoulders as a business owner. Meet with us to learn more about how we can help you manage your business.