Biggest Concerns That Keep Small Business Owners Up At Night
What really keep small business owners and CEOs up at night? Starting a business is not something that should be undertaken by anyone. It is definitely not for the light-hearted. This is because even after you have gone through the first stage of startup, gotten your first customers and are getting constant proceeds from it, there are still some challenges that would keep you up at night.
So, what are these challenges? How come after all you have done, you still cannot seem to have a good night sleep? The truth is almost every successful entrepreneur always have something going through their mind when they fall on their beds at night. It could be something exciting they just cannot wait to embark on the next day or something worrying that happened previously.
So, what are these challenges small businesses face that keep entrepreneurs awake at night?
Humans are never easy to handle. Everyone has their strengths and weaknesses and small business owners are always worried about getting the right employees who would help their businesses grow and have the progress of the company at heart.
This is one small business challenges that should keep you awake at night because hiring the right people who would have the company’s best interest at heart and skilled enough to hand the job is a constant source of worry for business owners.
The worry doesn’t stop at hiring the best, managing them is also a cause of insomnia. What would you do if one of your mostly-relied on employee just decides to quit. How do you replace them? How do you manage them so their actions do not disrupt your business?
This cause of insomnia which has affected and is still affecting many business owners can be curbed if employees are properly managed, kept happy, understood, given a platform for their voice to be heard and showing appreciation to them.
Another challenge that seems to keep small business owners up at night is money worries. Entrepreneurs usually find themselves going through receipts over and over again, wondering how to pay bills, avoid late payments and so on.
They keep asking themselves, how many percent gain am I getting from this venture? What if I cannot pay all my employees at the end of the month? Where and how do I raise money for my business? Would Mr. or Mrs. A invest in my business? The money is quickly draining but there is still so much left to do.
Issues such as this keeps you tossing and turning all night and is something every business owner cannot avoid.
Ideas, Ideas, Ideas
Just as you decided you are done for the day, decided to call it a night and place your head on the pillow, or you have probably woken up from sleep in the middle of the night to pee and immediately you get back on your bed, you suddenly get this rush of ideas pouring through your mind. Your mind just keeps on racing and racing about different thoughts and ideas on what to do next, what project would you undertake next?
Getting a pen and writing down as these ideas flow through your mind could be helpful because you might just wake up the next morning with no memory whatsoever of that great idea that just would not let you sleep.
Keeping Lengthy Hours
Another challenge that keeps small business owners at night is working for an extended period of time. As a small business owner, you always have to do so many things and then also multi-task. There is always so much work to do.
The list of things needed to be done never ends. This is made worse when you are running that small business as a side business along with your job. You have so many deadlines to meet and the twenty-four hours of the day just seems to never be enough.
Even when you are tired and it is the end of the day, there is still so much left to do. The amount of workload can be overwhelming and it makes sleeping at night difficult. A good strategy to help out is to make a detailed list of your daily schedule, allocate the time you would like them to be done and condition yourself to work according to your daily schedule.
A pen and paper should be at your bedside at all times so you would not have to deal with the laziness of having to get up to go get one.
Managing a small business is never easy and coupled with all these challenges that keep you up at night just makes the situation worse. But still, it is important to shut off your mind every night before going to bed as waking up strong and healthy gets you looking refreshed and perfect enough to face the next day and its challenges.