Stress Doesn’t Have to Sneak Up on Your Start-Up
We’ve all been a little more stressed out over the last year, thanks to the pandemic and political unrest. However, things are finally slowing down, and we can focus on what’s important. If this is starting or expanding your business, keep reading for quick tips on how to keep yourself sane during this daunting process.
Support Is Key
First things first, find a support network. Walker’s Legacy is a great place to start, and the foundation offers events throughout the year that give you an opportunity to meet other women on the same path. You also want to make sure to maintain an open line of communication with your friends and family to keep them abreast of your plans. You might be surprised at just how much support they can offer, even when they have nothing to do with your business. Further, hiring the right people from the beginning will take responsibilities off your plate. Good people give you an opportunity to work with less stress since you know the business will be handled even in your absence.
Dot the Is, Cross the Ts
All businesses have paperwork and legal issues that have to be taken care of. If you have yet to take steps, such as creating an LLC, do so now. As a limited liability company, you have a flexible management structure, and your personal assets won’t be targeted if things go downhill with your business. Using an online formation service can save you some cash, but do your research to ensure you are fully aware of local, state, and federal requirements before doing it yourself. A few other legal issues to take care of now include defining your employee classification, establishing health and safety regulations, and protecting your intellectual property with trademarks, copyrights, and patents.
Slow and Steady
Perhaps most importantly for your stress levels, you need to take measures to grow your business slowly and sustainably. Business Blogs points out that sustainable growth equals greater success. It is exciting to watch new customers pile up, but if you take on too many responsibilities too soon, you may not be able to keep up. This can leave you in debt and constantly putting out fires instead of focusing on the long-term.
Stress and new businesses go hand-in-hand. But, with a little preparation, you don’t have to let it take over and squash your success. Remember, network, handle legal matters early on, and grow sustainably. It’s a winning combination that can help you lay the foundation for your future.