Miami, FL: Dealing with Owner Stress in Uncertain Times

Yesterday in Miami, FL, one small business owner asked a question that clearly resonated with the rest of the large group:

“How much time should I, as the owner, devote to alleviating my own stress?”

I am, of course, no expert on psychology but we all agreed that the following two principles which we discussed together were a help:

  1. Focus on what you can control: We cannot control the economy, prices, politics, even market trends. While it is important to understand these real macro factors, it is much more productive to look at them as “bumps in the road” to be navigated around. As owners we can control: the markets and customers we serve, the prices we charge, the overhead and budgets we keep, and most importantly, our point of view
  2. Develop a proactive plan so you can feel in control: Focusing on developing word of mouth, outreach to the media, adding or modifying products and services to meet new client requirements – actions such as these will help you stay positive and moving forward despite the many gloomy messages we see and experience.

As a business owner, what helps you stay focused and positive?

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