There is nothing more uncertain than the unknown, and the idea of entrepreneurship is the very definition of a new adventure. Starting a new business means putting your own money, blood, sweat, and tears into a new, potentially scary experience that has unforeseen percentages of success or failure. It takes a certain leap of faith to conquer your fears and risk everything in pursuit of a dream. While a majority of startup stresses can’t be avoided, the most productive thing you can do is learn how to navigate your way through challenges in the most effective way possible.
There are many internal skills that you can use in order to manage stress. If it’s extreme stress, then you first need to manage your distress tolerance levels before you can use higher functioning parts of your brain for decision-making and problem-solving. Mindfulness is a technique that is very popular in many arenas, particularly in the corporate world. Statistics have shown time and again that all parts of the world, regardless of culture, have benefitted from some form of mindful meditation.
Another good idea is to avoid an extreme all or nothing situation and save a little nest egg aside for Plan B, just in case things don’t work out the way you originally planned. Another helpful suggestion to cut down on the stress of being your own boss might be to share the financial burden with other partners or investors. This will enable you to have something to fall back on. The stress surrounding a new business venture will be magnified if all your proverbial eggs are in one basket. That will affect every single decision with regard to the business, whether it’s large or small, consciously or subconsciously.
Being organized and living proactively instead of reactively is a much better way to live your life or manage a business. If you are always in a position of putting out fires, you will never be able to take a breath and advance to the next phase of growth or development. Not all hypothetical emergencies can be predicted, but it all starts with a business model. Next, there are all the different types of business structures you will be choosing from for tax and legal purposes.