Managing stress

How can stress affect you and what can you do to overcome it? Whilst a high percentage of business owners feel that prompt and positive action to ease and eliminate stress is important, most are unaware of how or where to seek help.

For any business, regardless of size, to address workplace stress effectively, it must first understand what stress is: its causes, its effects, and the risks involved.

What is stress?

In simple terms, stress occurs when the pressure on an individual exceeds, or is perceived to exceed, their ability to cope. It is often a misconception in business that some level of stress is a stimulant and driver. It is, in fact, pressure which stimulates and motivates, but when it progresses to become stress this is not healthy and never produces positive results.

What are the signs and the effects on the individual?

Stress manifests itself in three ways. These are:

• psychological
• physiological
• behavioural

So what should you look out for in yourself, and others?

The main indication that one is suffering from stress, is change. It may be a noticeable fall in concentration levels or lapses in attention to detail. It is perhaps more frequent sickness or tiredness. Maybe it will be a significant change in personality or social habits. Recognising these signs will help you to see that a problem exists.

How can stress impact my business?

For the sole trader or business owner, the impact, both personal and commercial, can be devastating.

Work-related stress can result in serious consequences for any company, small or large. Stress can not only affect a company financially, but it can have negative consequences on morale and performance.

Some examples of these effects are:

• loss of self-motivation
• increased time loss due to illness
• reduced levels of performance/productivity
• deadlines not met, placing business at risk
• low self-esteem
• increased danger of major errors and accidents.

What should I do?

Many who start their own businesses come from a large company background, where support functions were in place and they had the support of many other colleagues. Running your own business, you are often solely responsible for all tasks, and can feel isolated. Four prime factors should be embraced by owner/managers to avoid potential stress effects.

• Time management. Strong self-discipline is essential to ensure that priorities are set, tasks are completed on time, and that your time is well planned and adhered to. Anticipate possible pitfalls, and plan in advance for such eventualities.
• Involve your staff. If you employ staff, don’t assume that your staff don’t understand, or that they don’t want to be involved. Whilst they may not have your level of knowledge, sharing successes and concerns gives them a sense of belonging, of value, boosts morale, and creates a team culture which shares the pressures. Remember that the best ideas do not always come from the top (see the Case study at the end of this guide).
• Health and relaxation. Good health is vital to your success, never more so than in a smaller business, where so much is dependent on you. Regular exercise, combined with good dietary habits, is essential. Despite the demands placed upon you, it is important to be able to relax and switch off from work pressures. Regularly seeking out moments of calm and relaxation, such as reading quietly, listening to music, a walk in the park, or joining friends at your local, will have the desired effect.
• Local business community. Running your own business can be lonely, but need not be so. Consider joining your local Business Enterprise or Business Link Exchange Network. This will give you the opportunity to share experiences with those in a similar position. Networking will also bring new business opportunities.

Case study

Two business owners/partners were faced with the all-too-common problem of steady sales combined with faster-growing costs. No matter what they considered, they could not come close to the 15% turnaround required. They did not consult their staff, and stress levels were rising. On the recommendation of a local business adviser, they approached a stress management company. Following a seminar on stress, they decided to advise their staff of the problem, and placed a suggestion box in the workplace. At the end of the week they studied suggestions, and found one that changed the product in such a way that saved almost the total required, without affecting quality. Coupled with their own ideas, this more than met their targets.

Learnings 

• Seek professional help – it need not be expensive.
• Share concerns with your staff – they may just have the answers. In this case it was a 17-year-old YTS employee who made the suggestion!

Sources of help

• Attend a short course or seminar in stress management. It will provide valuable knowledge, useful ideas, and need not be expensive.
• Join your local Small Business Enterprise or Business Link Exchange Network. 
• Seek professional advice from a stress management company.

Tips

• Be constantly alert to possible stress factors, both in yourself and colleagues, and act swiftly.
• Be mindful of your health, and make time to relax.
• Be positive, determined, confident, highly self-motivated and disciplined.