As a small business owner, you will face numerous challenges that can strain your mental health. These could range from the stress of opening day to the anxiety of slow periods. Or the pressure of launching new products. And the shock of unexpected citations that impact your business.
The recent economic downturn has only exacerbated these challenges. In a 2019 study, 72% of small business owners reported mental health concerns. A more recent study by Small Biz Silver Lining in 2023 found that 75% of business owners are worried about their mental health, and 56% have been diagnosed with a mental health condition.
It’s not an exaggeration to say that business owners are facing fears about their mental health. Ignoring these concerns can lead to burnout, decreased productivity, and even business failure. Finding ways to support mental health for the sake of the person and the business is not just vital; it’s a necessity.
These mental health tips for business owners can help you do just that.
It might be enough for you to talk to family members or friends about your concerns about your mental health. They can support you as you need during this time. You might find solace in talking to other business owners about the stresses of hardships. They can impart their own wisdom and give you support and practical tips based on their own experiences. Never underestimate the power of sharing when it comes to your mental health. Even if they can’t help you directly, simply sharing how you feel can be the start you need.
You might find that you need more help than family, friends, and other business owners can offer. In this instance, talking to your doctor or getting therapy can be extremely beneficial. There are many treatment options for you. For example: taking medication to help you with your symptoms. Or looking into Trauma Recovery Coaching to help you deal with issues that are impacting you and your ability to operate your business.
Many business owners find it hard to say no, and they are sometimes worried that if they refuse an opportunity or customer, they will lose everything they have worked hard to achieve. However, never saying no can be massively detrimental to your mental health and can impact you in many ways.
If you’re already stretched as much as you can be, saying no can help you regain some control. You might find it easier to offer a compromise or alternative arrangements; however, prioritizing your needs when you’re struggling is vital so you don’t get snowed under to the point where you feel you have lost control.
Are you feeling tied to your desk and don’t move away or take as many breaks as you should? Many business owners are guilty of this more often than not, and it’s not hard to understand why. But not giving yourself downtime and always being on the clock will eventually take its toll and impact your mental health.
Don’t be afraid to clock off and take some time to rest and recharge to help you through the working week. Whether you take extra breaks at work or incorporate a half day every so often so you have definitive time off working times each day so you can wind down, you need to incorporate more rest into your life.
Even if you don’t feel like you are displaying signs you’re stressed, chances are you will be. Knowing how to recognize and understand changes in who you are and the emotions or actions you’re displaying can help you know when you need to stop and focus on your mental health.
This can be difficult to do yourself, but changes such as increased irritability, change in appetite, decreased productivity, becoming withdrawn, or a change in sleeping habits can all be indicators your mental health is suffering, and you need to take action to help you avoid things escalating.
Business owners will have their attention pulled in many different directions and have multiple things they need to be thinking of at once. Sadly, it’s standard and par for the course of running a business. However, grounding yourself and putting your thoughts in the here and now can help you manage stress levels and improve your mental health. Take a few minutes to practice some deep breathing exercises, bring thoughts back to the immediate issues, and push everything out of your mind except what you currently do; it can alleviate worries and help you retain control.
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