As entrepreneurs, everything in our lives is unpredictable. The only thing we can count on is things not being like they were yesterday. But we didn't get into business because we wanted certainty.
However, we create a lot of stress and drain our emotional well being with small problems that can be easily eliminated.
I was talking with a group of founders recently who were joking about how low their personal bank account balances can get. We think we've got everything covered for the moment, and then something like a Netflix charge causes an overdraw. When this happens, we generally get upset and stress, then fix it and move on without much more thought. And then it happens again.
Addressing small financial issues like overdrafts doesn't seem like a business issue, but I see a lot of entrepreneurs undergoing a lot of undue stress because of small issues mishaps that are easily avoided. When your mental state is elsewhere ( like fighting with your bank), it's not on you and your day. You can't be there for your business.
I believe that keeping your mental state and focus out of the muck, and knowing where our weaknesses and trip up areas lie is one thing, but we also need to create structures and things in place in our lives as well.
So this week, I challenge you to address the problems that drains your emotional well-being as if it's a real business issue. Because it is.
A quick suggestion:
What problems in your life can you address like a business problem?
Identify your exposure, minimize it and put systems in place to mitigate it.
For example. Considering the minor financial issue of overdraft fees. Determine how much you actually spend each month on incidentals and other small things that tend to hit our account and cause overdrafts. Netflix, coffees, random lunches out... and use a pre-paid charge card account that cannot overdraw exclusively for these charges. Keep it funded monthly, just like a bill with exactly what you need in there. If the money isn't there, the charge won't go through. A minor inconvenience compared to getting more overdrafts.
What other areas of small stress and annoyance (financial or otherwise) can you address and eliminate by looking at it through a business lens?
In addition to mitigating your risk, keep a continuous eye on growth. This week's blog post is Exactly How to Great a Great New Client This Week. Check it out here. There is also a free download to help you research and verify emails, as well as a bonus download with sample prospecting email templates.