E Stressors
Few who ride the entrepreneurial tilt-a-whirl would argue that it is stress free. Here is a list of some of the more common entrepreneurial stressors.
1. As you read through, indicate all of these items that you find or can imagine finding stressful in starting your own business.
2. Add any key stressors that you feel are missing.
3. Choose that 5 that you find – or think you will find – most stressful and rank them from most (#1) to somewhat less (#5) stressful.
Stressors List
• Being isolated working on my own
• Worrying about running out of money
• Going into debt
• Getting into conflict with my co-founders
• Being outclassed by competitors
• Losing the ‘love money’ that family or friends have invested in the business
• Neglecting family and friends
• Failing
• Succeeding too quickly
• Having my life consumed by the business
• Trying to raise funds
• Growing too quickly and being unable to keep up
• Losing control to demanding investors
• Losing the security of a steady job paycheque
• Keeping track of company accounts and cash flow
• Dealing with paperwork and administrative details
• Hiring and overseeing staff
• Trying to find a new job if the company fails
• Hustling, trying to sell my product or service
• Uncertainty. Not knowing what tomorrow will bring
• Lack of daily structure
• Not being able to save enough money for retirement
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i. Your Top 5 Stressors
1.
2.
3.
4.
5.
ii. What do your top 5 stressors have in common?
iii. What does your stressor picture indicate for how you structure your business and entrepreneurial lifestyle?
Managing Stress
It is important that entrepreneurs sit back for a moment, take stock and make sure that their stress isn’t careening into unhealthy, ultimately unproductive levels.
The American Psychological Association offers links to current stress research and practical stress-reduction techniques.
http://www.apa.org/topics/stress/index.aspx