How to avoid burnout in small business

beggers January 30, 2019 0
How to avoid burnout in small business

Whether or not you’re a small business owner, you’re probably familiar with burnout. Everyone’s experienced it at some point or another in college, taking care of a household, or working hard at a hobby or passion project. Burnout makes you question why you do what you do, and can quickly turn you into an exhausted, miserable person.

In the realm of small businesses, burnout can cause even more damage. 1 in 10 businesses fail because of lack of passion. Annually, it’s estimated that businesses lose up to $3 billion in productivity due to negativity. If you’re a small business owner, there are six common scenarios where burnout is the most common:

  • You’re funding your business using personal funds and little to no investors.
  • You’re marketing your business which is a full time job in itself.
  • You’re building a team and struggling to find the right hires.
  • You’re overwhelmed with work disrupting a healthy work-life balance.
  • You don’t feel a sense of direction so your morale drops.
  • You’re exhausted, making everything ten times harder.

So how do you avoid the dreaded sense of burnout in your business? The key lies in identifying signs of burnout as early as possible and taking necessary steps to mend the problem before it causes your business to fizzle out. Since small businesses require a lot of the work to be frontloaded, entrepreneurs are more susceptible to burnout than others.

As a small business owner or entrepreneur, remember to outsource tasks when necessary so that you can focus on what they want to prioritize and specialize in. For example, for marketing tasks, hire a contractor who specializes in branding and graphic design. This way, you can present a quality brand and execute effective advertising while you get to turn your focus to other important things.

Remember to prioritize your wellness and work-life balance above all else. After all, what’s the point of building a successful business if you’re miserable? If you were to work for an employer, you would expect them to respect your personal time. Things should be no different when working for yourself.

Make sure that you translate this work-life balance to your employees as well, because if they’re not happy, your bottom line will suffer. Recognize telltale signs of burnout and offer fun incentives to boost morale. By taking these and a few other precautionary actions outlined in this infographic from Fundera, you’ll be able to avoid burnout during every step of your small business.

 

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