Take care of yourself, not just your business

Posted 23 Jun '23

Take care of yourself, not just your business

Being a business owner can be stressful. When the buck stops with you, it can be easy to let the pressure mount up and to discount your own wellbeing.

However, taking care of your own mental health is equally as important as taking care of the business – research from MYOB showed that 53% of business owners suffer from stress and anxiety relating to the running of their business. So, what can you do to take care of your own mental health and work mindfulness into your usual life routines?

Ways to nurture your wellbeing as an entrepreneur

Looking after your mental health is as important as looking after your balance sheet. That’s the reality. So, having an improved focus on rest, wellbeing and talking about your struggles is a big part of moving towards becoming a better business leader.

For example:

• Don't overwork yourself – it's tempting to work every hour that's available, in an attempt to meet your goals. But working yourself into the ground is, ultimately, a destructive thing to do. If you're tired and burnt out then you're in no position to lead the company. Try to stick to set working hours, and avoid working 60-hour weeks wherever possible. Sleep, rest and downtime are vital.

• Schedule time for non-work-related activities – make sure you have time blocked out for things that aren't work. That might be a walk in the countryside, time with your kids, or a game of tennis. The aim is to take yourself away from the stresses of the business and to give yourself a broader life outside the company. It's a chance to have fun, to relax or to be someone who isn't just 'the boss'.

• Take up an activity that promotes wellbeing – there are plenty of pastimes that can help you bring down your anxiety levels and bring you to a calmer place. Gentle exercising can provide relation and help you to be calm and refocus away from business concerns. Even something as traditional as a fishing or hiking trip could help you to chill out and relax, away from a screen.

• Talk about your worries, concerns and anxiety – if business-related stress is building up, the worst thing you can do is keep it all bottled up. It's beneficial to open up and talk about this anxiety. This could be with a partner, a fellow entrepreneur, your accountant or even a professional counselor. Be transparent about your state of mind and you’ll find people are more than willing to listen, understand and offer some support.

Talk to us about your business worries

As your accountant and adviser, we’re in the perfect position to help you talk through your business worries. We know your business and your sector inside out, and we know the common threats, challenges and goals that will be on your mind.

Come and talk to us, let us take some of the weight off your shoulders and see how we can support you more. A chat can be the start of a whole new way of thinking about your own wellbeing. Contact your WDF team member on 02 6921 5444 or email accountants@wdf.com.au

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