Small Business Articles
Overcoming Recession Anxiety For The Good Of Your Small Business
December 24, 2008
Even though it must be old news by now, the recession is, without a doubt, still one of the biggest news items in the media. Newspapers run daily recession stories; TV and radio news stations bring in economists to give a play-by-play on the downward spiral of the stock market; and the internet is buzzing with everyone throwing in their two cents. If the recession isn’t enough to send you into a panic attack, the media coverage might be.
In all seriousness, stress-related disorders are becoming more prevalent in light of the economy. Some recent studies indicate that at least 80% of America is stressed out by the economic downturn of late. Of course, "stress" is a term that encompasses a wide variety of mental states from serious anxiety down to mild emotional discomfort, which is certainly a reasonable response. But many are experiencing cases that are not reasonable at all.
According to the Anxiety Disorders Association of America, 18.1% of the country deals with some kind of anxiety disorder under normal national conditions. But this number may be exacerbated by recession and its effects on business and daily life.
By definition, anxiety is the "anticipatory tension or vague dread persisting in the absence of a specific threat." Though many mix them up, the difference between fear and anxiety is that fear has a very specific and present cause and leads to a course of action to evade the threat, but anxiety is a fear of nothing present, and it often petrifies instead of leading to life-saving action.
Unfortunately, the world’s current economic state has left a particularly strong emotional mark on many of America’s small business entrepreneurs, stirring up anxiety in businessmen and women everywhere. CNN writer Alexander Stein recently interviewed an unnamed business owner who, despite a "debonair and self-assured" exterior, is "struggling to navigate the financial crisis, keep his business viable and, more than anything else, manage his crushing anxieties:" anxieties which are indeed unreasonable, including a debilitating fear of calling deadbeat clients who won’t pay.
The problem for this home business owner and others like him is not only that their recession-associated anxieties are unfounded, but that they cause these entrepreneurs to lock up under pressure, even when that pressure is more imagined than real. That’s bad news for a home based business, because, though this won’t help to lighten the load for an anxious entrepreneur, everything rides on his ability to decisively execute whatever actions are in the best interest of the business. For the good of his franchise business, he has to have a clear head.
If anxiety is affecting the way you or some you know operates a business, there are some things you can do to help, instead of worrying. Here are some helpful tips from various anxiety professionals.
Talk About it
This is a particularly hard one for work at home entrepreneurs with no partners, because there is no one at the office to confide in when the stress becomes too much. Whether it’s a partner, spouse, friend, or family member, it’s important to have someone that you can talk with about your business anxieties. It’s good just to get it all out, and they can often help you sort out exactly what is a real threat to your business opportunity and what is simply perceived.
Don’t Fight—Change Your Thinking
The great mistake that many make is treating anxiety like an enemy that must be battled. Much of anxiety is a visceral response to imagined danger, and trying to subdue your own tension by tensing up is not going to help. In most cases, acknowledging the truth that what you’re stressing out about isn’t the end of your business, but rather a single overdue bill, can go a long way to helping you get your mind back. It’s hard, but objectivity is vital to your work from home success.
Go for a Walk
It’s a simple piece of advice that works for small spells of anxiety. Generally, any kind of exercise can help release tension, but there’s something doubly calming about just walking around the neighborhood when you’re stressed out.
Herbal Supplements
There are many to choose from, but one that’s easy to get is St. John’s Wort. It’s been proven to successfully calm nerves by slowing serotonin reuptake in the brain. And though it’s perfectly safe, if that sounds too invasive, chamomile tea is championed by many as a great way to take the edge off.
Talk to Your Doctor
If all else fails, your case of anxiety may just be a little more acute than you anticipated. Talk to your doctor about what you’re experiencing and see if he can recommend a more successful course of action or a local therapist to help you navigate this difficult season of life, not just for your franchise, but for your own well being.
Ultimately that is what it comes down to: you need to attend to your own health when you own a business. Franchises require a lot of their owners, but above all, buying and running a business for sale requires strong and healthy entrepreneur. For the good of your business, you must take care of yourself in the midst of this recession, even when that means putting the laptop down and calming your nerves with a bubble bath.
Even though it must be old news by now, the recession is, without a doubt, still one of the biggest news items in the media. Newspapers run daily recession stories; TV and radio news stations bring in economists to give a play-by-play on the downward spiral of the stock market; and the internet is buzzing with everyone throwing in their two cents. If the recession isn’t enough to send you into a panic attack, the media coverage might be.
In all seriousness, stress-related disorders are becoming more prevalent in light of the economy. Some recent studies indicate that at least 80% of America is stressed out by the economic downturn of late. Of course, "stress" is a term that encompasses a wide variety of mental states from serious anxiety down to mild emotional discomfort, which is certainly a reasonable response. But many are experiencing cases that are not reasonable at all.
According to the Anxiety Disorders Association of America, 18.1% of the country deals with some kind of anxiety disorder under normal national conditions. But this number may be exacerbated by recession and its effects on business and daily life.
By definition, anxiety is the "anticipatory tension or vague dread persisting in the absence of a specific threat." Though many mix them up, the difference between fear and anxiety is that fear has a very specific and present cause and leads to a course of action to evade the threat, but anxiety is a fear of nothing present, and it often petrifies instead of leading to life-saving action.
Unfortunately, the world’s current economic state has left a particularly strong emotional mark on many of America’s small business entrepreneurs, stirring up anxiety in businessmen and women everywhere. CNN writer Alexander Stein recently interviewed an unnamed business owner who, despite a "debonair and self-assured" exterior, is "struggling to navigate the financial crisis, keep his business viable and, more than anything else, manage his crushing anxieties:" anxieties which are indeed unreasonable, including a debilitating fear of calling deadbeat clients who won’t pay.
The problem for this home business owner and others like him is not only that their recession-associated anxieties are unfounded, but that they cause these entrepreneurs to lock up under pressure, even when that pressure is more imagined than real. That’s bad news for a home based business, because, though this won’t help to lighten the load for an anxious entrepreneur, everything rides on his ability to decisively execute whatever actions are in the best interest of the business. For the good of his franchise business, he has to have a clear head.
If anxiety is affecting the way you or some you know operates a business, there are some things you can do to help, instead of worrying. Here are some helpful tips from various anxiety professionals.
Talk About it
This is a particularly hard one for work at home entrepreneurs with no partners, because there is no one at the office to confide in when the stress becomes too much. Whether it’s a partner, spouse, friend, or family member, it’s important to have someone that you can talk with about your business anxieties. It’s good just to get it all out, and they can often help you sort out exactly what is a real threat to your business opportunity and what is simply perceived.
Don’t Fight—Change Your Thinking
The great mistake that many make is treating anxiety like an enemy that must be battled. Much of anxiety is a visceral response to imagined danger, and trying to subdue your own tension by tensing up is not going to help. In most cases, acknowledging the truth that what you’re stressing out about isn’t the end of your business, but rather a single overdue bill, can go a long way to helping you get your mind back. It’s hard, but objectivity is vital to your work from home success.
Go for a Walk
It’s a simple piece of advice that works for small spells of anxiety. Generally, any kind of exercise can help release tension, but there’s something doubly calming about just walking around the neighborhood when you’re stressed out.
Herbal Supplements
There are many to choose from, but one that’s easy to get is St. John’s Wort. It’s been proven to successfully calm nerves by slowing serotonin reuptake in the brain. And though it’s perfectly safe, if that sounds too invasive, chamomile tea is championed by many as a great way to take the edge off.
Talk to Your Doctor
If all else fails, your case of anxiety may just be a little more acute than you anticipated. Talk to your doctor about what you’re experiencing and see if he can recommend a more successful course of action or a local therapist to help you navigate this difficult season of life, not just for your franchise, but for your own well being.
Ultimately that is what it comes down to: you need to attend to your own health when you own a business. Franchises require a lot of their owners, but above all, buying and running a business for sale requires strong and healthy entrepreneur. For the good of your business, you must take care of yourself in the midst of this recession, even when that means putting the laptop down and calming your nerves with a bubble bath.
