Entrepreneurship is a lot of responsibility. It entails having to look after every minor aspect of your company. It takes a while before a company goes from being a start-up to an established business. It is at this nascent stage of starting up that the company’s long-term business practices are established. In the digital age, there are a number of things that start-up companies can come across, so it is important to stay safe online and check holistic board.
Top 10 Stress Factors
Finding Capital – entrepreneurs who come on shows like Shark Tank and who meet VCs aren’t doing it for the fun of it. They need money to pay employees and utilities. Failing to find this will jeopardize a business
Unkept promises – have you told an employee that you will find a replacement for them because they are overworked? Until you find that replacement, it will give you major stress!
Being the boss – all decisions must be approved by you, so, you feel like a bottleneck, under a lot of pressure!
Decision making – this is a trait that gets better over time. However, it is a cause of major stress as well as mental health issues in young entrepreneurs.
Being a strong leader – you are the go-to person in your company. IF you come across as someone who crumbles under pressure, the chances of your company folding are much higher.
A packed schedule – between running your own company and keeping up with trends in your industry it’s pretty tough to be a business owner!
Customers – there is always a person for whom your business operates. In the early days, your source of income could be a single source and maintaining relations with them can stress you out!
Presentations – this is a key aspect of your business. The iPhone launches thrive on the presentation. If you get it wrong, your product won’t find takers and you won’t find investors.
Attrition – having employees stay with you through your journey is a major issue. Creating the right balance in your office so your employees are happy and continue to work for you can be very stressful.
Variables – Not knowing if a decision you make has a good or bad impact can harm you more than anything else!