What is a main reason why entrepreneurs experience daily stress? Without any doubt, it’s money. Either a lack of money, or the fear of running out of money that is the main reason for stress.
While the fear of running out of money is very real and absolutely needs to be taken seriously, it is not unique to entrepreneurs.
Also, there are many other causes of stress that entrepreneurs experience on a daily basis, some quite major.
For beginner and aspiring entrepreneurs it’s especially important to be able to recognise the main causes of entrepreneurial stress.
It helps you stop stress from overwhelming you.
In this article we will also look at 9 main stresses entrepreneurs frequently experience.
We’ll offer some quick and easy tips for managing those stresses that hopefully will help to alleviate some of that pressure.
- Other reasons why entrepreneurs experience daily stress
- #1. The stress of making many quick decisions
- #2. The stress pressures from making commitments
- #3. The stress of finding and retaining great talent
- #4. The stress of a lack of access to low risk capital
- #5. The fear of letting go and becoming a bottleneck
- #6. Not knowing how to be a strong leader
- #7. Fear of the unknown
- #8. The stress of other people’s expectations
- #9. The fear of public speaking
- Which of the following statements about stress management is true – the top 5
- 4 Quick and easy tips to help you manage entrepreneurial stress
- Further reading
Other reasons why entrepreneurs experience daily stress
There are many factors that motivate a person to become an entrepreneur, there are many different types of entrepreneurs and there are many steps to becoming an entrepreneur, all of which involves a degree of daily stress. This is in addition to the main reason why entrepreneurs experience daily stress.
Entrepreneurs have many challenges and obstacles when starting or growing a successful business. Sometimes it is because they don’t know why they want to become an entrepreneur, or they haven’t yet worked out if they want to become an entrepreneur. Other reasons include not finding a good idea, and securing clients or customers can be very stressful. And sometimes it is external factors such as competition or regulations.
The stress of it all can make you lose focus and get distracted from what matters most – building an awesome business that solves real problems for real people. It stops you from thinking clearly about how to solve problems, whether or not you’re doing a good job, and often you feel like every decision could be the wrong one.
The list of stress points is endless, but here are the 9 other main reasons that cause entrepreneurs to stress-out. Some you may recognise, others might be new to you. Either way they are very real and all have the potential to cause major problems for you and your business.
#1. The stress of making many quick decisions
One of the main reasons why entrepreneurs experience daily stress is because they have to make a lot of decisions quickly. Most small business owners can attest to the pressure of having to make quick decisions that can potentially seriously affect their company.
They are constantly working on one thing while also thinking about an entirely different situation and trying to stay aware of what’s going on around them in the office. While entrepreneurs are thinking about the present, they also have to keep one eye on the future and plan accordingly. It’s a juggling act and often things can get out of control.
#2. The stress pressures from making commitments
When building a new business it’s often the case you need to make commitments that can be difficult to keep. Entrepreneurs tend to be willing to go above and beyond and often over-commit in order to give their business what it needs most – trustworthiness and customers.
This is a major source of stress and is associated with feeling constantly like you’re not good enough. But, they’re doing it for something they believe in! They want their business to succeed.
They want their employees to feel like they belong. It’s worth it for them to push through the difficulties and stay focused on what matters most: the people who matter.
So all too often entrepreneurs end-up trying to hide their insecurities and stress, but they are just as human as anyone else and this just makes it worse.
#3. The stress of finding and retaining great talent
One of a start-up’s key goals is to find and retain great talent. Entrepreneurs are constantly trying to attract, motivate, and maintain the best talent possible while they’re building their startup often feel stressed.
It is difficult to find, attract and retain good team members, and a wrong decision can often cause very major problems. Sometimes these are obvious early on, but equally likely is that they won’t be noticed until much further down the track, often when it is too late to do anything about it.
#4. The stress of a lack of access to low risk capital
Low risk capital is something that entrepreneurs often lack. Access to low risk capital is a major hindrance for entrepreneurs because they need it for growth and development. Although Venture Capital companies (VC) can help, they can only invest in so many start-ups at any given time.
And even when entrepreneurs meet the VC’ funding criteria, the competition is often fierce. This makes it difficult for entrepreneurs and increases their stress levels because they’ll always be worried about whether they can fund their next financial needs.
#5. The fear of letting go and becoming a bottleneck
Some entrepreneurs have a fear of letting go and becoming a bottleneck within their own business. The idea of handing responsibility to someone else can be absolutely terrifying.
They’re aware you can’t grow without delegating, but trusting that the person you’re delegating to will do as good a job or better than you would have done yourself is often a source of great stress.
What if you’re not able to keep up with all of the work in your business? What if no one can do things as well as you can? How will that make customers feel about your brand and products or services?
#6. Not knowing how to be a strong leader
As a startup founder, you are the CEO, CFO, and CTO. You need to be able to juggle all of these roles at once while also making sure that your business is hitting its milestones. It’s hard enough trying to lead a team when things are going well but what do you do when you’re in the middle of an emergency? How can you keep everyone on track without losing it yourself?
Sometimes entrepreneurs are too busy being entrepreneurs. They just don’t know how to be a strong leader because they simply haven’t had the opportunity, all of which can cause a tremendous amount of stress.
#7. Fear of the unknown
Many entrepreneurs fear the unknown, and because most entrepreneurial startups are in the business of creating something that didn’t exist before, there are lots of opportunities for things to go wrong.
The unknown can take on many forms such as what types of problems they’re going to encounter, how they are going to solve these problems, and whether or not they are the right person to handle these things.
#8. The stress of other people’s expectations
Another reason why entrepreneurs experience daily stress is because they are afraid that they won’t be able to live up to their customer’s expectations. When entrepreneurs start a company, they fall in love with their product or idea.
They want everyone else to love it and it can be frustrating when people don’t. The truth is, if the entrepreneur continues building their business on this negative attitude, things won’t work out for them and they’ll continue feeling frustrated.
Similarly, if we allow it, other people will happily find creative ways to use all of your time entirely for their own purposes. You need to place a real value on your own time and choose to keep some of it for yourself. So if this is happening to you, the simple solution is to learn how to say “NO”!
#9. The fear of public speaking
For many people, entrepreneurs included, public speaking is great source of anxiety and mental stress. The idea of being on a stage, or in front of a room full of people staring at you, of being filmed for a video makes them sick to the stomach. It can even result in wondering if their fear of public speaking is a mental disorder!
Presentations are a necessary part of running a company. Entrepreneurs don’t have the luxury of being able to postpone this responsibility because it can help them make new business connections and potential customers. And this can be the most stressful part of being an entrepreneur, more than the fear of running out of money.
Which of the following statements about stress management is true – the top 5
Rather than make you stress-out from having to guess, we’ll provide you with answers to the top 5 statements:
- The effects of stress can include neck pain, hypertension and even hair loss
- Stress management is about connecting your mind and body
- The characteristics of negative stress includes decreased performance and anxiety
- In small quantities, stress is good, but too much stress is harmful
- The characteristics of positive stress includes motivaton and enhanced performance
4 Quick and easy tips to help you manage entrepreneurial stress
There are many ways you can manage your stress, and it starts with these healthy-habits. You do not need any expensive equipment or special foods in order to get started on this journey towards managing your stress.
- Stress relief through exercise
Exercise helps reduces stress, anxiety and fatigue, improves self-perception and self-esteem
- Manage your stress by meditating
Meditation can help you feel calm when things get hectic and erase the day’s stress that threaten to overwhelm you
- Lower the effect of stress by healthy eating
Eating healthy foods like fruits, nuts, fish and vegetables can help lower blood pressure
- Learn to how say “NO” without feeling guilty
Healthy ways of coping with stress include developing refusal skills. Learn how to say “NO” so you stop unnecessary stress from occurring in the first place
For some people these healthy-habits tips are not enough and they need more professional advice. If that applies to you, can we suggest you consult and discuss your needs with your health professional.
Stress is a serious problem in today’s society. It can affect your health, relationships, your career and definitely your business. It makes it difficult to live a happy and fulfilling life, and can be especially a big issue for dedicated and committed entrepreneurs.
Don’t ignore stress and to reduce your stress levels and get the most out of your work week, you need time away from work-related tasks.
This includes making sure you take care of yourself by exercising daily, eating healthy foods (including breakfast), getting enough sleep every night, and taking a vacation on occasion.
Even though these things may seem like luxuries in our fast-paced world with email inboxes constantly buzzing at us with new messages waiting to be read and answered, they are actually essential components for leading a more fulfilling life, and building as successful business.
Breathe in. Breathe out. Get on with your life and enjoy it!
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The World Bank collects national data on the percentage of a country’s population that live below the poverty line for that country. National estimates are based on subgroup estimates from household surveys and are compiled from official government sources or are computed by World Bank staff using national country–specific poverty lines.
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 Mayo Clinic, Meditation: A simple, fast way to reduce stress
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