Managing Mental Health as a Business Owner

Managing mental health is one of the most important things every business owner can do for themselves today. You’re experiencing immense stress, whether you realize it or not. It’s a lot of work to:

  • Run a business
  • Handle employees
  • Meet your financial obligations
  • Focus on customer satisfaction

It’s no wonder that 31% of business owners report having high levels of stress. We know how stressful the 60+ hour weeks can be. It’s overwhelming to try and keep your company running, and it’s easy to overlook your own mental health.

For many of us, work acts as an escape, allowing us to block out any mental health issues that we have until one day, it just hits us.

Trust me, there is a better way. You can begin managing your mental health in positive ways and start allowing yourself to have time outside of work. You have hobbies that you want to pursue and a social life to maintain.

And 50% of business owners state that their mental health affects their business success.

If you follow the tips below, you can have it all: a growing business and a less stressful and more fulfilling life.

Set Boundaries

Work is not life. A saying that resonates with me is: “Work to live, not live to work.” When was the last time that you spent time on yourself and really set boundaries? You must separate:

  1. Work time
  2. Personal time

Set hours for work and stop burning the midnight candle. Take regular breaks and know that when you “switch off,” you need to treat it as clocking out for the day.

I know how hard this sounds. I have set hours at my firm, and when I step away, that’s it for the day. My instinct is to check my phone, emails and messages, so I even turn my phone on silent. Sometimes, you have to go to great lengths to set these kinds of boundaries, but it’s 100% worth it.

I’ve learned to say “no,” and you need to do the same.

However, an emergency line is set up for clients just in case they need to reach me in a true emergency situation. Otherwise, 99% of things can wait until you’re back in the office.

Delegate Tasks 

You’ve taken arguably the hardest step and set boundaries. People pleasers must learn to say “no,” which is incredibly difficult. Once you’ve done this, it’s time to let go of the reins a little and begin delegating tasks.

A rule of thumb is if a person can complete a task 70% as well as you can, delegate it.

Focus on tasks that are not something that is fun and exciting to you. If you love certain tasks, keep doing them to keep yourself happy and satisfied. However, you also want to:

  • Write down a list of tasks that you can delegate
  • Outline how each task is performed
  • Ask someone to perform the task
  • Adjust your outline as necessary

Documenting your processes is always a good use of time because you can delegate tasks and it will make your business more valuable if you sell it in the future.

Have Outlets Outside of Your Job

There’s a famous proverb that expresses the dangers of making work your entire life: All work and no play makes Jack a dull boy. 

It’s okay to be passionate about your work. In fact, it’s a rare and wonderful thing to truly love your work. But to manage your mental health, you need to have outlets outside of the workplace.

You don’t have to have grand hobbies. You just need to find something that brings you joy that isn’t related to your work.

These outlets could be:

  • Reading
  • Meditation
  • Socializing with friends and family
  • Painting or photography
  • Traveling
  • Writing

These outlets help you become a more well-rounded person and provide you with different life experiences and perspectives that will also be valuable in the workplace.

Make these outlets a priority. Dedicate time to them. Go as far as penciling them into your schedule. It’s easy to let work responsibilities become a bigger priority, but if you neglect the things that bring you happiness and joy, it may be difficult to stay satisfied and productive at work, too.

Establish a Routine

Routines can help improve your mental health in many ways. For starters, a routine provides structure and organization. You can rely on your routine, which can bring comfort, normality, and peace of mind. But you also know what to expect during your day and use your time in productive ways that help you work towards your life goals.

Start with one thing at a time. If you try to change your entire lifestyle, you will feel overwhelmed.

To develop a routine:

  • Create a list of tasks to complete or a plan.
  • Set your intentions and envision the changes you want to achieve.
  • Change your perspective. Remember that you don’t have to change your whole life in one day. Focus on what the outcomes will be when adopting a new routine, such as less stress or having healthier habits.

Establishing a routine means that no matter what unexpected things come up during the day, you will still carry out certain tasks, like exercising, eating healthy, or taking time out for your hobbies. They help create balance and a sense of stability that will support a healthy mindset.

Stay Financially Informed

It’s no secret that finances can be a significant source of stress and anxiety. An estimated 90% of Americans are stressed about money.

But, staying financially informed can help reduce finance-related anxiety. Set aside time to review your business’s finances regularly, set a budget, and seek professional advice when needed. Taking this approach will help ensure that your business’s finances are healthy and on the right track.

Manage Your Mental Health or It Will Manage You

Running a business is hard work. It’s mentally challenging and requires a great deal of dedication. But it’s important not to lose sight of your mental health along the way. Having a successful business will mean nothing if your mind and body aren’t healthy.

Use the strategies above to start managing your mental health and making work/life balance a priority.

To learn more about how we can help you manage your business’s finances or to schedule an appointment, click here

Ready to take control of your financial future?

Contact us today to learn more about our expert financial planning services and to schedule a consultation with one of our experienced planners.
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