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Owning a small business is no easy feat. Especially in those early stages, you are truly a one-person show. You are CEO, CFO, Head Of Marketing, Social Media Manager, and Intern. Unfortunately, that same sense of control that draws so many people into owning their own business can also lead to its downfall. According to the Bureau of Labor Statistics, 20% of small businesses fail within the first year, and 50% fail within the first five. With the holidays just around the corner, taking care of yourself as a small business owner is so important to keep yourself sane during such a busy time. Here are some self-care tips and ways to minimise stress for small business owners. 

Set Boundaries 

Just like with any other type of job, setting boundaries is a crucial part of maintaining a healthy relationship with work and creating balance in your life. Set specific hours for when you start and (most importantly) stop working for the day. No one should be on the clock 24/7, and it is important both for yourself and your business to take a break. If a client wants you to bend over backwards, or demands more of your time than is feasible, do not be afraid to stick with your boundaries and say no. By setting these boundaries, you will be able to recharge and have the energy to focus on your business. 

Delegate Tasks

If you notice there are certain tasks that take up more of your time or that are not exactly your speciality, outsource them to other people. Outsourcing comes with a lot of Perks, such as freeing up your schedule from usually time-consuming tasks and giving you the ability to focus on what matters to you. Or, if social media isn’t your thing, look no further! Running a small business has so many tedious moving parts, and there are so many services available to give your small business the level of care and attention it deserves. 

Be Kind To Yourself 

Just to really make sure this hits home: you are a human being with needs, not a robot that can execute every task perfectly all the time that never needs to stop. Exercise, quality sleep, and a healthy diet are just as important to the success of your business as countless hours of hard work. Studies have found a profound connection between the three, proving that they all impact one another. For the sake of your health as well as the overall success of your business, prioritise these things. The over-romanticization of burning the midnight oil every night is over: self-care and valuing your health is here to stay. 

These tips are easier said than done. Small business ownership is a difficult undertaking, and getting swallowed up in the weeds and intricacies of your work can come all at once and be incredibly overwhelming. But, by setting boundaries, delegating out your tasks, and truly being kind to yourself, you will be able to navigate small business ownership with energy and a clear mind to lead you and your business on the pathway to success. 

No matter how successful a business is, nothing is going to exempt it from the laws put in place to protect employees and customers while they work under you. There are a lot of legal issues a business can run into if careless, and not even a team of lawyers could protect you from such huge mistakes. Of course, the kinds of legal trouble you’re at risk of will depend on what kind of business you run. Your business might have hygiene issues if you’re working in the food industry, or danger from faulty machinery if you work within the construction industry.

Wrongful termination

One of the bigger problems that affect all businesses with one or more employees working under them is wrongful termination. When you hire an employee, you’re signing a legal contract that binds them to your business, this is something that can be terminated at any time if you’re able to meet the requirements of what you and said employee agreed before you took them on. In most cases, this will either be terminating them without the correct amount of compensation or notice. If you are going to let someone go, you need to make sure you honour the contract that was formed when you hired them.

Discrimination

Discrimination in the workplace is, unfortunately, something that is still seen today and something that your business can face serious consequences for. There are many times where an employee or customer can find your business discriminatory – and you’ll want to make sure you’re watertight. Whether it’s a customer experiencing it while investing in your business, an employee experiencing it from other colleagues, or even applicants experiencing it in an interview. If your business shows any hint or prejudice to someone based on a disability, race, or sexuality – you could face a discrimination lawsuit.

False advertisement

Marketing is a very competitive environment, with every company trying to one-up their competitors – but even so, you’re not allowed to advertise falsely. If you market your product and lie about what it does, it’s not only going to damage your reputation, but you could find yourself in court. It can be quite complicated to go into detail, but so long as your business does not go out of its way to deceive or make false claims about what your products can or cannot do will have legal consequences.

Workplace safety

Your customers and employees need to feel safe when they’re present in your workplace, and that means making sure you don’t have any safety hazards that are easily accessible. Wet floors need to be appropriately marked with signs, faulty machinery needs to be checked, repaired, or replaced as soon as possible. Firedoors need to be clearly marked and never blocked. Workplace safety is one area of your business that you cannot afford to overlook, as it can cause injuries and stress to your employees. Make sure your workplace has been inspected by a professional, and have routine checks on things like electricals and safety requirements.

Your employees are more than simply cogs that keep your company going, which means that managing employees involves more than just getting as much productivity out of them as possible. You also need to make sure that they’re confident so that they’re comfortable coming to you whenever they have an issue or a suggestion and feel as though they can progress in your company. One of the ways to raise your employees’ confidence is to challenge them in and outside of the office. But there are other reasons to engage with your employees in a different environment.

Employee Engagement

Despite what the common belief is, employee engagement isn’t synonymous with job satisfaction, although both are vital for employee retention. Job satisfaction measures how content employees are in their roles. Employee engagement is more complex.

It’s defined as a measure of how motivated employees are by the work they do, as well as how passionate they are. Employee engagement can also refer to how committed employees are to the company they work for and how well connected they are to their teammates.

There are several ways to improve employee engagement, and you should always aim to do so. However, one of the most effective ways is to arrange for a volunteering effort or some other event for charity. This helps employees to see that they work for a company that cares about more than just the bottom line, but that also aims to improve their local community. 

One important thing about volunteering is that it shouldn’t be compulsory. Otherwise, a potentially well-meaning event can feel sour for your employees. Even a one-off Volunteer Day can boost morale significantly. For the more adventurous in your office, consider looking into charity challenges that your employees can get involved in. 

Build a Great Team

Your employees need to work together to achieve the best results for your company and the customers and clients. A tight-knit team isn’t just more productive, but your employees will prefer working in such an environment and will be more likely to stick around, especially if there are other incentives as well.

There are two ways to go about team-building. You can either arrange an event specifically designed for it, or you could go for a more casual route, merely arranging a meal or a game night. Both of these methods can be very successful and can forge some close-knit teams. Many successful companies, both small and large, use both of these kinds of activities. However, getting out of the office and into a different environment is usually recommended. 

Improve Mental and Physical Health

While some of your employees might not be able or willing to get involved in more physically taxing activities, fostering an environment where they can take care of themselves will benefit both the company and the employee. 

You can encourage employees to improve their health in several ways, but arranging company walks and other outside activities is a great first step. Even being outside is known to help people’s mental and physical well-being, after all.