10 Tips for Managing Anxiety as a Business Owner
As an entrepreneur coach, I help business owners tackle challenges and achieve their goals. One of the biggest hurdles many face is anxiety. Running a business comes with a lot of stress. There are many responsibilities, tight deadlines, and unexpected issues. All these can lead to feelings of anxiety.
In this article, I will share 10 simple yet effective strategies for managing anxiety. These tips will help you stay calm and focused while running your business. Before we get into my tips, let’s talk about the obvious: what is anxiety and why business owners like yourself struggle with it.
What is Anxiety and How Is it Caused?
Anxiety is when you feel very worried, nervous, or scared, and it can make it hard to do everyday things. Business owners might feel extra pressure because they don’t want to seem like they can’t handle the risks that come with owning a business. In fact, 50.2% of entrepreneurs struggle with anxiety. This statistic comes from a survey of entrepreneurs and is significantly higher than the 31.1% lifetime prevalence of anxiety disorders in the general U.S. adult population.
Think of it like this: Picture a classroom with 10 kids. If 5 of them are always feeling nervous about tests, that’s half of the class. But if you ask kids in different classrooms about those same feelings, only about 3 out of 10 usually feel this way. So, in the world of entrepreneurs, it’s like more kids in that one classroom are nervous compared to other classrooms. This shows that entrepreneurs deal with anxiety more often than people in general.
Why Business Owners Feel Anxious
It can be tough to admit you don’t have everything together or need help, especially if you choose to not work for someone else. Here are some reasons why you or a business owner you know may feel anxious:
- Uncertainty and Risk: Running a business means dealing with things that are uncertain, like changes in the market, customer behavior, or how well products do. This unpredictability can make business owners feel anxious as they handle these risks.
- Money Problems: Keeping track of money, finding funding, and making sure the business makes a profit can be stressful. Worries about money or meeting financial goals can increase anxiety.
- Imposter Syndrome: Many business owners feel like they’re not good enough or that they’re pretending to be successful. This can lead to self-doubt, a desire to be perfect, putting things off, and overworking, which raises anxiety levels.
- Fear of Failure: Making big decisions in business can lead to a fear of failing. This fear can make it hard to make decisions and increase stress and anxiety.
- Feeling Alone: Owning a business
can be lonelyis lonely at times. Without a supportive network, business owners might feel isolated and stressed. - Work-Life Balance: Trying to balance work and personal life can be hard. This struggle can lead to burnout and anxiety.
So, if you feel anxious at one point or another, that is normal. The problem arises when the anxiety impairs your ability to think, feel, or function without difficulty. That is why we will go into the specific physical, emotional, mental, and behavioral signs that your anxiety may be something worth looking into.
Generalized Anxiety Disorder (GAD)
Generalized Anxiety Disorder (GAD) is a common type of anxiety. People with GAD feel very worried about many things, even when there’s no clear reason to worry. This worry can last for months or even years. Business owners might find themselves constantly anxious about their business, finances, or even small details.
Imagine having a never-ending list of worries. This can make it hard to concentrate, sleep, or even enjoy everyday activities. For business owners, GAD can make running a business even more challenging. Understanding GAD can help you recognize when anxiety is more than just a temporary worry and when it might be time to seek professional help.
Next, let’s look at clear signs that your anxiety is becoming a problem.
Spotting the Signs: How to Know When Anxiety Is a Problem
As I mentioned earlier, we can’t avoid anxiety completely. Anxiety means something needs our attention. Here are some signs that you may need to take better care of your mental health.
Physical Signs
- Fast Heartbeat: Imagine Alex, who runs a small bakery. Whenever things get busy, his heart starts to race. He feels like it’s beating too fast, especially when he thinks about all the orders he needs to fill.
- Sweating: Sarah owns a boutique. During big sales events, she finds herself sweating a lot more than usual, even when the shop is cool. It makes her feel uncomfortable and self-conscious.
- Shaking: Tom, who manages a tech startup, often notices his hands shaking when he’s about to present new ideas to his team. It makes holding papers or using his phone a bit tricky.
- Feeling Tired: Emma runs a fitness studio, but despite her active lifestyle, she always feels tired. It’s like no amount of sleep can make her feel rested.
- Trouble Sleeping: Jake, the owner of a landscaping business, lies awake at night thinking about client projects. Even when he does fall asleep, he wakes up frequently and can’t get back to sleep.
Emotional Signs
- Constant Worry: Maria has a catering business. She worries all the time about everything – from food supplies to customer reviews. It feels like her mind never takes a break.
- Fear: David runs an online store. He constantly fears that something will go wrong – like his website crashing or orders getting lost. This fear follows him everywhere.
- Irritability: Rachel, who owns a salon, gets easily irritated with her staff and even her clients. Small things that never bothered her before now make her snap.
- Feeling Uneasy: John, who operates a car repair shop, always has this nagging feeling of unease. It’s like there’s a cloud of worry hanging over him all the time.
Mental Signs
- Difficulty Focusing: Lisa runs a marketing agency. She finds it hard to focus on one task at a time. Her mind keeps jumping from one thing to another, making it hard to get work done.
- Racing Thoughts: Peter, a freelance graphic designer, often experiences racing thoughts. Ideas and worries fly through his mind so fast that he can’t keep up.
- Overthinking: Nina, who owns a flower shop, overthinks every decision she makes. She spends hours thinking about the smallest details, like how to arrange flowers or price them.
Behavioral Signs
- Avoiding Tasks: Jack, who has a small law firm, avoids tasks he finds stressful. Instead of dealing with difficult cases right away, he puts them off, which only adds to his stress.
- Putting Things Off: Olivia runs a pet grooming service. She often puts off important tasks like bookkeeping or marketing because they make her feel anxious.
- Working Too Many Hours: Michael, who owns a construction company, works long hours every day. He feels like he needs to work all the time to keep his business running, even if it means missing out on time with his family.
These examples show how anxiety can show up in different ways for business owners. Recognizing these signs is the first step toward managing anxiety and finding ways to cope better. Next, let’s talk about ten tips to help you better manage your anxiety.
10 Tips for Managing Anxiety
1. Practice Deep Breathing
Deep breathing is a great way to calm your mind and reduce stress. When you’re anxious, your breathing might become fast and shallow. Deep breathing helps slow it down and brings more oxygen to your brain.
Example: Try the “box breathing” technique. Inhale slowly through your nose for 4 seconds. Hold your breath for 4 seconds. Exhale slowly through your mouth for 4 seconds. Then hold your breath again for 4 seconds. Repeat this a few times.
Case Study: Sarah, who owns a small business, used to feel very anxious during busy times. She started doing deep breathing exercises every morning. This practice helped her manage anxiety better and face her daily tasks with a clearer mind.
As you work on calming your mind through deep breathing, it’s important to also focus on setting realistic goals. This next step will help you manage anxiety by giving you clear, achievable targets.
2. Set Realistic Goals
Setting realistic goals helps avoid unnecessary stress. When you set goals that are too high, it can lead to anxiety if you don’t meet them. Break down big goals into smaller, achievable steps.
Example: Instead of aiming to “increase sales,” set a goal to “increase sales by 10% in the next three months.” Outline specific tasks, like improving marketing or launching a new product.
Case Study: John, who works in tech, used to set very high targets. This often led to stress and burnout. By breaking his goals into smaller, manageable tasks, he found it easier to stay on track and reduce anxiety.
While setting goals provides direction, it’s also crucial to manage your workload effectively. Delegating tasks can significantly reduce your stress and help you stay focused on what’s most important.
3. Delegate Tasks
Delegating tasks is an important way to manage anxiety. You don’t have to do everything yourself. Handing over tasks to others can help you focus on what you do best.
Example: If you are overwhelmed with administrative work, hire a virtual assistant or delegate tasks to team members. This will give you more time to focus on important business activities.
Case Study: Emma runs a marketing agency. She used to handle all client communications herself. By delegating these tasks to her team, she felt less stressed and could concentrate on growing her business.
As you delegate tasks, remember to also take regular breaks. Yes, it is okay to rest at times! Breaks are essential for maintaining productivity and managing anxiety effectively.
4. Schedule Regular Breaks
Regular breaks are important for reducing anxiety. Working without breaks can lead to burnout. Make sure to take short breaks throughout the day.
Example: Try the “Pomodoro Technique.” Work for 25 minutes, then take a 5-minute break. Use this time to stretch, take a walk, or simply relax.
Case Study: Mike, a graphic designer, found that taking regular breaks improved his focus and creativity. Scheduling breaks made it easier for him to manage anxiety and stay productive.
After incorporating breaks into your routine, consider adding mindfulness practices. Mindfulness can further help you stay calm and focused during your workday.
Having a support network is essential for managing anxiety. Surround yourself with people who understand your challenges. Sharing experiences with others can reduce feelings of isolation.
5. Practice Mindfulness
Mindfulness helps you stay focused on the present moment. It can be a useful tool for managing anxiety by keeping your mind from wandering into worries about the future or past.
Example: Use mindfulness techniques such as guided meditation. Apps like Headspace or Calm offer helpful exercises. Spend a few minutes each day focusing on your breath or observing your thoughts.
Case Study: Lisa, who started a new business, practiced mindfulness for 10 minutes each morning. This habit helped her manage anxiety and approach her work with a calmer mindset.
While mindfulness helps center your thoughts, building a support network can provide additional emotional support and reduce feelings of isolation.
6. Establish a Support Network
Having a support network is essential for managing anxiety. Surround yourself with people who understand your challenges. Sharing experiences with others can reduce feelings of isolation.
Example: Join local business groups or networking organizations. Connect with fellow entrepreneurs who can offer support and advice.
Case Study: Raj, who runs an online store, joined a local business mentoring group. The support he received helped him manage anxiety and handle business challenges more effectively.
In addition to having a support network, managing the flow of information is crucial. Limiting information overload can help you stay focused and reduce anxiety.
7. Limit Information Overload
Too much information can increase anxiety. In today’s digital age, constant news updates and social media can overwhelm you. Set limits on how much time you spend on these sources. This is important not just for managing your time but also for keeping your sanity in check.
Example: Decide on specific times for checking news or social media. For instance, once in the morning and once in the evening. Avoid these activities during work hours to stay focused.
Case Study: Emily, a tech startup founder, limited her news consumption to specific times of the day. This change helped her stay focused and reduce anxiety related to information overload.
As you manage information intake, remember to include regular physical activity in your routine. Exercise is a powerful tool for managing anxiety and boosting your mood.
8. Exercise Regularly
Regular exercise is a great way to manage anxiety. It is also a great form of self-care. Physical activity releases endorphins, which can boost your mood and reduce stress.
Example: Find physical activities you enjoy, like jogging, yoga, hiking or dancing. Aim for at least 30 minutes of exercise most days of the week.
Case Study: David, a small business owner, started taking daily walks. This simple change helped him manage anxiety better and improve his mood and productivity.
Alongside exercise, effective time management is key to reducing stress. Organizing your time well helps keep anxiety at bay and ensures you stay on top of your responsibilities.
9. Practice Time Management
Good time management helps reduce feelings of overwhelm and anxiety. Organize your tasks and set priorities to stay on top of your responsibilities.
Example: Use tools like to-do lists or project management apps. Prioritize tasks based on their importance and deadlines.
Case Study: Sofia, a freelance writer, used a project management app to organize her tasks. This approach helped her manage her time better and reduced her anxiety about meeting deadlines.
Finally, if managing anxiety becomes too overwhelming, seeking professional help can provide valuable support. Therapists and counselors offer strategies and techniques to help you cope with anxiety effectively.
10. Seek Professional Help
If anxiety is impacting your daily life or business, get professional help. Therapists, counselors, or coaches like me can provide useful support and strategies for managing anxiety. You will also learn ways to cope and address the root causes of your anxiety.
Case Study: Tom, a business owner, got help from a therapist for his severe anxiety. Therapy gave him good coping strategies and a better understanding of his anxiety, which led to better business performance and personal well-being.
I hope these tips help. The image below sums up my advice. Next, I will share my final thoughts.
Final Thoughts
Managing anxiety as a business owner is important for your health and success. By using these 10 tips I mentioned in this article, you can think clearer, lower your anxiety and have a more balanced work life. Remember, managing anxiety is ongoing. You don’t have to do it alone. Don’t hesitate to contact me if you need help.
Also, listen this episode from my entrepreneur podcast for more tips and think about working with me directly. Together, we can turn your anxiety into strength and success.
