Overcoming entrepreneurial anxiety

960x0

Compared to non-entrepreneurs, entrepreneurs are more prone to mental health conditions. They suffer from anxiety attacks, triggered by their lifestyle, which has workdays with no structure and boundaries. The journey to success never did run smooth, it is normally filled with situations that fuel anxiety. For entrepreneurs, learning how to deal with anxiety is very important as it would help them to achieve their goals and build a successful business.

Given below are some practices that would help entrepreneurs pull through panic and manage anxiety successfully:

Self-reflection as a tool

Introspection or self-reflection helps to develop emotional intelligence. It helps people to feel more connected to who they are. Self-reflection can be done one hour before bedtime by asking questions such as, ‘Why did I feel anxious?’. The reason could have been too much caffeine or alcohol which might have disturbed sleeping patterns. Spending too much time on social media might have led to less productivity. The key to self-reflection is not to judge thoughts and beliefs as that might limit the information that one has to get a better understanding.

Lower expectations

It is important to stop doing ‘everything’. One has to select a few areas where one can deliver exceptional results. Expectations have to be realistic. Unrealistic expectations can kill motivation. Too much optimism can be harmful. It is very important to be grounded in reality as that is an important step towards being aware of one’s progress.

Avoid people who trigger anxiety

Other people can be a source of anxiety. It is important to be surrounded by positive and supportive people. It is not always easy, but one can select the people they choose to spend their time with. When acquaintances or clients add to tension and negativity, it is vital to make changes. People also judge other people on the basis of who they hang around with. The goal should be to interact with as many like-minded people as possible. Befriending entrepreneurs in similar or related ventures can be helpful.

Make cash flow a priority

Making a cash flow budget should be a priority. There should be an estimate of annual expenses. A business cannot do without cash flow. If the cash flow dries up, a business will die. One should take into account big-ticket items such as updating computers or buying expensive machinery. There should also be an estimate of annual sales and the time when customers pay to make sure that there is enough cash flow throughout a business year. One should also be prepared for contingencies. Initially,  any excess fat should be cut away from the budget. A simple remedy can be to open a business account that will have nothing to do with personal accounts.

Delegate

Entrepreneurs don’t have to do everything themselves. They should hire and train people. It can be a daunting task and it is definitely a financial commitment, so one should set aside time to find the right person for the right role. People who have the right skills that are aligned with a company’s core values should be hired. If the values of a company have not been defined, they should be before making the first hire.

Ronn Torossian is a PR Executive and author of For Immediate Release.

Ronn Torossian

Ronn Torossian is the founder and Chairman of 5WPR, one of the largest independently-owned PR firms in the United States. With over 25 years of experience crafting and executing powerful narratives, Torossian is one of America’s most prolific and well-respected Public Relations professionals. Since founding 5WPR in 2003, he has led the company’s growth, overseeing more than 275 professionals in the company’s headquarters in midtown Manhattan. With clients spanning corporate, technology, consumer and crisis, in addition to digital marketing and public affairs capabilities, 5WPR is regularly recognized as an industry leader and has been named “PR Agency of the Year” by the American Business Awards on multiple occasions. Throughout his career, Torossian has worked with some of the world’s most visible companies, brands and organizations. His strategic, resourceful approach has been recognized with numerous awards including being named the Stevie American Business Awards 2020 Entrepreneur of the Year, the American Business Awards PR Executive of the Year, twice over, an Ernst & Young Entrepreneur of the Year semi-finalist, Metropolitan Magazine’s Most Influential New Yorker, a 2020 Top Crisis Communications Professional by Business Insider, and a recipient of Crain’s New York 2021 Most Notable in Marketing & PR. Torossian is known as one of the country’s foremost experts on crisis communications, and is called on to counsel blue chip companies, top business executives and entrepreneurs both in the United States and worldwide. Torossian has lectured on crisis PR at Harvard Business School, appears regularly on CNN & CNBC, is a contributing columnist for Forbes and the New York Observer, and has authored two editions of his book, “For Immediate Release: Shape Minds, Build Brands, and Deliver Results With Game-Changing Public Relations,” which is an industry best-seller. A NYC native, Torossian lives in Manhattan with his children. He is a member of Young Presidents Organization (YPO), and active in numerous charities.

You may also like...