Managing Emotions with Business
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It’s a life-changing event when one decides to become an entrepreneur. Starting a business can be extremely exciting, but it can also be taxing on your time, finances and emotions. Depending upon your background and prior experiences, the learning curve might feel more like a mountain. Most start-up founders will lean on friends and family to not only offer emotional support for the stresses that come with starting a business; many will also rely on these same people for operational support. Mixing personal and professional business is a tenuous arrangement often causing emotions to run high. Here are some tips for managing both expectations and emotions for yourself and those that surround and support you in your business venture.
Clearly Define Roles
Lines get blurred when people take on multiple roles. It’s not uncommon to see a blurred organization chart in a start-up of any nature. Toes get stepped on frequently causing feelings to get hurt, egos to be bruised and tensions to build. Untreated, this can strain, if not destroy, relationships with the friends and family that offered their time and talent to support your dream.
To preempt this, get agreement early on of some clearly communicated rules of conduct when working on business initiatives versus personal interactions. If everyone knows their place at work as well as home and understands what they need to be doing, the chance of stepping on toes diminishes significantly.
It’s important to remember to treat friends and family with the same respect you would any other colleague at the office and not assume anything less would be forgiven just because they are your friends or family. By keeping this mindset, relationships will be stronger and the business will be more productive as a result.
Don’t Take It Personally
Starting a business is like having a child; both hold your heart in a unique way. For many small business owners, the company is an extension of themselves. It’s hard for many business owners to comprehend why the rest of the world may not be in as much love with their business and/or products as they are. Reality is, strangers don’t love our children as much as we do and so the world will not love your store or product as much as you do.
That said, make sure to listen to the people who are able to offer you objective opinions. If their opinions feel negative to you, take their remarks as constructive criticism. Strangers don’t know you personally; therefore any comments made toward your business are intended towards the business and not you.
Also, remember one person’s opinion is just that, so don’t let it dramatically affect your decision-making or disposition. However, if you find that a number of people are saying the same thing, you might want to take note as they may be on to something. When possible, seek out objective feedback and fresh eyes for your business and accept all comments, both positive and negative, with consideration and an open mind.
Enjoy Yourself
Most people start a business because they feel passionately they are servicing a need and are excited at the prospect of being their own boss. Doing what you love and getting paid for it is the ultimate American dream. That dream can grow dim when owners find themselves getting caught up in the minutia of the day-to-day operations of the business; getting lost in the “business” of running the business.
It’s important to stand back, take stock and recognize the accomplishments you are making. Furthermore, it’s important to enjoy yourself. To achieve this you might need to relinquish some responsibilities (those that aren’t strong suits) to others who are more qualified. When you are not struggling to balance the books (if that’s not your forté), but allowing someone else to do it, you will find both you and your business will be better off for it.
Mixing Business and Pleasure
I hope that your company is a mixture of both business and pleasure for you; if it’s not then something is amiss. It’s important that you, as the leader and driving force behind your company, are passionate. It’s your passion that will motivate your staff (even if they are your friends and family). It’s your passion that will motivate you to press on when challenges arise.
You can keep this passion alive by remembering to manage your expectations and those of the people who surround you. By doing this, you will help to quash occasions for emotions to run high. Keeping an objective outlook on any and all comments will position you to accept feedback and grow your business from it. Learning to delegate will help to alleviate stress and the feeling of being overwhelmed. In the end, you will find you feel better, your business will benefit and the experience will be worth the effort.
About Insights Discovered
Penny Redlin is a regular contributor to the “Business Sense” feature on The Giggle Guide, sharing insights about business planning, effective communications and marketing strategies. To read more articles by Penny Redlin, see http://thegiggleguide.com/biz/features/business-sense
Based in Las Vegas, Nevada, Insights Discovered was founded by Penny Redlin in an effort to share her professional expertise within the children’s product category. The company’s mission is to give every mompreneur an opportunity for success. Insights Discovered exclusively services children’s products brands. The specific industry focus demonstrates a strong dedication to the unique needs of children’s products companies. Insights Discovered offers strategic planning, market research and traditional marketing services.
For more information, visit www.insightsdiscovered.com or call 702.218.5707
