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

Looking after your mental health is as important as looking after your balance sheet. 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:

  • Try not to 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 going for a walk, 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. Going for a walk or run is a good way to stay fit, but also an excellent way to clear your mind. Equally, finding time for meditation helps you to relax and empty your mind of business concerns and allow yourself to become more grounded and calmer. Even something as traditional as a fishing trip could help you to chill out and relax.
  • 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 Tradies Tax about your business worries

As trade business specialists, we’re in the perfect position to help you open up about 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.

Through services such as Business Development, Monthly and Annual Reporting, and Tax Planning, the team at Tradies Tax can help take control of your finances, so you can get on with what you do best! 

Contact Tradies Tax today to discuss how we can support you so you can have your nights and weekends back. 

This blog was originally published by BOMA, with minor edits made by Tradies Tax.