Protecting your assets is so important for any business, especially when starting up. For example, ensuring your maintenance agreements and insurance plans are up to date and have enough cover is key to protecting you from risk. But remember, the most important asset for a new business is YOU and making sure you look after yourself is essential!
To help support your mental health we have put together 5 top tips. These are just some suggestions that you might find helpful.
Tip 1: Keep ahead of trends
We talk about planning a lot when you first start a business and making sure you have a robust business plan is key. But it is also important to keep ahead of what is coming next. Predicting trends that might keep slumps in sales or spikes in sales is important and needs to be planned for. Make sure you regularly review your business plan and build in a risk analysis so you have a plan if the worst does go wrong.
Tip 2: Keep on top of paperwork and accounting
Having in place a good file management system and using recommended accounting software can keep everything in place and easy to access when needed. Not being able to find a missing invoice or contract can cause so much stress as well as wasting a lot of time searching! Having a good system in place for paperwork is so important for stress management.
Tip 3: Practice good time management
Having really good time management is a vital skill to have. Time management can be supported in many different ways but choose a process that suits you. Writing lists is a favourite with many but recently there has been an increase in the number of apps to support your time management. Many of these apps are free to download but you need to review which app is best for you.
Tip 4: Be interactive with others
Being self-employed can sometimes be lonely and you need to think about if this is the right life for you. A lot of people are happy to work on their own but others miss working with colleagues and miss the support and banter from the office or workshop environment.
A really good way to gain interaction with people is through networking events or by joining trade associations such as your local British Chamber of Commerce organisation. By linking up with either of these types of organisations, you will find others in the same position as you. It gives you a chance to share your passion for your business. By attending the many events that are organised for the purpose of sharing information it takes you away from the office or workshop for a brief period. It also gives you a break from what can be the monotony of working alone.
Tip 5: Take time for yourself
Lastly make sure you take breaks. When you work in an office or workshop environment with others you naturally have breaks. Make sure you have time for yourself. Take five minutes every 45 mins to make a drink or walk into the garden to give yourself time away.
There are many organisations that can support you if you’re struggling with your mental health and these links may be useful:
Mind: Promotes the views and needs of people with mental health problems.
Anxiety UK: A charity providing support if you’ve been diagnosed with an anxiety condition.
Mental Health Foundation: Provides information and support for anyone with mental health problems or learning disabilities.
Rethink Mental Illness: Support and advice for people living with mental illness.
Samaritans: Confidential support for people experiencing feelings of distress or despair.
This article was kindly written by Paul Creeden, a Business Advisor from WSX Enterprise.
