Dealing With Stress

[kodydog]

Lord knows how complicated our lives are in this day and age. And owning an upholstery business has its unique set of stress. Here are 10 good ways for business owners to deal with stress and stay motivated. #8 is my favorite stress killer.

https://www.manta.com/resources/small-business-advice/10-ways-small-business-owners-stay-motivated/?

[Mojo]

This is one of the best pieces of advice:  "If you find yourself stuck, don't be afraid to ask for help. Not only does this help you avoid wasting time, but it also will typically result in the best solution to your problem or situation. You will only contribute to the amount of stress in your life if you attempt to fix or problem solve everything on your own," says Dustin Armstrong of HighestCashOffer.com. "Pride and ego aside, you need to understand that it's perfectly fine to ask for help when you need it."

I constantly have ideas rattling around in my head. New ventures, new products, new directions in business but never do I act on them without running them through the gauntlet. I keep a small circle of trusted advisors ( friends ) who I consider excellent businessmen and constantly run ideas past them before acting on any idea. If I have a new product idea I seek out experts to give me input. Over the years one of the biggest downfalls I have seen with business owners is pride and ego. Thinking you know it all, have things figured out is a great way to set yourself up for failure.

Yes our companies are extremely successful but I would be a liar if I told you it is all because of me. It has been an accumulation of my ideas, my tenacity and drive and a boat load of seeking advice and input from talented people who helped me hone my ideas before launching them. I will eat my pride and ego at any moment and anyday if it means obtaining my goals, success and financial rewards.

Mojo

[SteveA]

Stress for me was always in running the business - earning enough - keeping customers happy - keeping up with paperwork - communication - and pushing out work that folks liked.
Now that the kids are on their own this has lowered the need to earn and work like a crazy man.  This time period has less pressure for me and I can really enjoy what I'm doing.
Running a business brings you a wealth of experience in dealing with other businesses.  Here again this reduces stress because you've learned not to say yes too easily and be disappointed when dealing with other businesses inside or outside of your trade.  At the end of the day so many things come easier than they did in years past.  Great friendships - folks I can call on - businesses that take care of me for all the years of loyalty - what's left -  a little more exercise and healthy eating will pay dividends  - a little closer to that SS check has got me motivated to make it there -
Opening day tomorrow - my stress is borderline with DD out ! 
SA

[Mojo]

In as far as managing stress, I do the best I can. The stress level increased considerably when we brought on employees. We now have a crew of 5 and my biggest worry is staying 6 months ahead with payroll in our bank account. It is scary when I consider I hold the well being of these employees and their families in my hand. We are responsible for their livelihoods, their car payments, house payments, groceries, etc.

Other stresses come from the large investment we have made with a service van and all its equipment and tools which ran into the thousands not to mention the cost of this specialized service van. We are getting ready to add another new product that we manufacture and coupled with the other products I worry over liability issues with each one. Some of our clientele are power players who could sue us into the stone age.

I try and not bitch about al of this because it is the life I chose. I knew the headaches and stress found in growing companies. Every business owner who has employees, high dollar equipment, manufactured products and alot of overhead has a lot of sleepless nights. It costs us $ 15 K to open the doors every month and that is before buying materials, products, fabric, etc.

Damn scary sometimes. You learn real quick to manage your cash flow and keep a large stash of cash hidden away when slow periods hit.
What helps me survive is having a business partner ( my wife ) who is calm, understanding, extremely intelligent and keeps me on level ground. She is my stress reliever.

Mojo

[SteveA]

I know because my Father had a small trucking delivery business - 6 guys  - compensation, unemployment, disability, liability insurance, permits, DOT, ICC, accountant, uniforms, sick leave - 11 holidays, who can't get up and make it in on Saturday, truck repairs, lettering, equipment, referee who doesn't want to work with this guy,  on and on - but at least there was not texting :) - Paul has done this - and I'm afraid to say growth but that's what it is .....and I give you credit and  if you want ? 
SA

[MinUph]

As Chris said the stress of having employees lives on you is hard. I worry more about payroll than anything. But I do think it is better to have them than be a sole worker. If I slack off a bit I still get work out. It does make life a little easier and when you have good people it helps a lot.

[SteveA]

yes - can't forget payroll and having good credit with the bank for an inevitable loan when times were lean.  I can remember many weeks my Father didn't take a salary so that the guys would be paid.  Don't get me wrong - he was a good provider - better than average middle class living and could handle stress better than most -
I worked for him after HS and if not for his Sicilian temper I'd have continued with the business.  It's better he chased me because I'm wasn't cut out to discipline guys and apologize for their wrong doings.
So many plus and minus equations but the bottom line is two hands can only do so much - the only way I would have grown or at least tried is if my Boys wanted to come into my business - they wanted no part of it. They are better off -
SA

[gene]

As a sales manager for a big corporation I fired people. I always had cause so that made it easier. I've talked to many business owners who have employees and the hardest thing for them is when they need to lay people off because of a lack of business. They say it's difficult knowing that those employees need their jobs to pay their bills and put food on the table for their families. I'm glad I've never had to deal with that kind of situation.

gene

[kodydog]

We have had to fire two seamstress. Rose is super picky when it comes to stitching. If a seamstress is not up to snuff we send them on their way. We didn't feel bad because there are plenty of lesser quality shops looking for seamstresses. I've had to fire shop helpers. Mostly high school students who loose interest after a year or so and start slacking off. I had to let a collage student go because we got slow. He was a good worker and we kept him on as long as we could but we ran out of work. For him I felt bad but he found a new job 2 weeks later.

I've been fired before. 16 years old working in the kitchen at a nursing home. I showed up at work one day and the manager told me he had to let me go. He walked me to the front office and gave me my final check and showed me the door. He never did tell me why. I think I was blamed for something I did not do.

18 years old and stocking shelves at a liquor store. The same thing happened. The manager let me go with no warning and no explanation. That's a blow to the old ego. At least when I fire someone I tell them why. Even if its a reason they may not want to hear.

Just remembered, at 14 my neighbor gave me a job. He owned a duplex he rented. My job was to go there Saturday mornings and turn on the sprinkler. Let them run for an hour and go back and turn them off. One Saturday around noon I remembered I didn't turn the sprinklers on. So I quick ran and turned them on. When I went to collect my money the neighbor said he checked that morning and everything was dry. Gulp! I tried to explain but he said not good enough and fired me. Jeez Wally.
 

[Mojo]

My biggest problem is that I have never been able to just be satisfied with a small successful business. One in which there is just one or two of us who eek out a comfortable living. 30 years of being a business consultant and marketing analyst required that I always pushed for growth, bigger sales numbers, etc. I have never been able to turn that growth switch off.

Looking back I have many days I wished I would have never started these companies but then would I have been happy and content ? Probably not. It just has never been a part of me where I can relax and settle for simplicity in life. I have always been too damn driven.

There is one benefit to having employees ! I have slowed down, turned over more and more of the daily operation to key employees
and am going to pursue more of my hobbies like flying airplanes, shooting at the range, etc.

I just turned 61 today and it is time to act my age and slow down. : )

Mojo

[kodydog]

Mojo, have you ever tried fishing from a kayak? If you're ever in the St Augustine area let me know. I just bought another kayak you can use and have found some good places to fish. I target Red Fish, Flounder and Sea Trout. Once you land a big ole red Fish from a kayak you'll be hooked. You still have my number?

This invitation goes to any of my friends here on the Forum. Kayak fishing is certainly a stress killer.

[Mojo]

Ed:

Thanks so much for the invitation. I avoid kayaks like I avoid the dentist. I do well in boats and pontoons but have a phobia of water. Mainly because my swimming abilities resembles that of a cement block.

But I love fishing. I admit I know nothing about salt water fishing. We stayed at an RV Resort once on the gulf and they had a fishing pier. Ingrid and I bought all new salt water fishing gear and we had a blast. Caught several small black fin sharks.

Thanks again for the invitation.

Mojo