1. Practice mindfulness meditation. Studies show that you can find a sense of calm by focusing on your breathing patterns and the present moment. While there are many ways to practice mindfulness, family business owners with demanding schedules can start out by trying out shorter periods of intentional mindfulness. For me, I use the app Calm to help me mindfully focus for 10-15 minutes on my breathing and the present moment. It calms me and allows a better perspective for any concerns I might be experiencing about the past or future occurrences.
2. Express appreciation and show gratitude. Studies have shown that practicing gratitude can help you sleep better, reduce your stress levels and reduce your anxiety. Moreover, the recipients of your appreciation and gratitude feel good about being recognized. This benefits creating healthy business cultures and strengthening family relationships as well. It’s a win-win for everyone.
3. Let go of what you can’t control. While you might feel responsible for everything when it comes to your business, actually taking on everything is unsustainable, and can derail your business growth. Consider what’s essential and what really only you can do and personally control. Regularly set your essential priorities, and then stick to them. You’ll feel more in control and, therefore, less anxious.
4. Delegate and outsource tasks. Don’t be a roadblock to maximizing your business growth. One of the key drivers for building business value is what’s termed Hub & Spoke. Visualize a wheel. Are you the hub where all the spokes extend out from you? How would your business perform if you unexpectedly are unable or decide not to work for some period of time?
5. Take some time to evaluate all that you do. Then, identify and write down which of those responsibilities you don’t enjoy doing or that you think someone else could do better and faster. Next, add anything that you constantly think you should be doing but never seem to have the time. Now consider which of these tasks and responsibilities you could delegate to others either within your business or outsourced.
6. Unplug and disconnect from tech devices to allocate time to regularly connect with your family, friends, nature, and yourself. Given that we use our devices for just about everything these days, we often spend more time on them than we realize. Become more aware of your unnecessary tech device distractions, which too often are merely a way to procrastinate doing more important activities. By setting aside specific times to unplug, you’ll reduce your stressful overwhelming buildup of important activities.
7. Go outside and get fresh air for moments of solitude to experience nature’s surroundings and focus on breathing calmly. It diverts me from feeling overwhelmed and grants me a sense of clarity that I can use to better understand and calmly tackle issues of concern.
8. Consider joining a family business owner Mastermind Group for peer support. A mastermind group provides peer support and helps its members solve their particular problems with input and advice from the other group members. Forming interactive relationships with other business owner peers can bolster you in times of struggle. You might also find a sense of purpose in sharing your own experiences and expertise. When you do, you’re likely to feel less isolated. Also, you’ll also have an outlet to bounce around ideas, ask questions and share your successes and concerns.
By managing frustration, anxiety, and stress, you’ll perform better and be more appreciated as a family business owner. In turn, your business builds up more added value. In a recent study of 1,511 companies, one factor commonly omitted when assessing the value of a family business – the owner.
Research suggests that the family business owner’s reasons for exit and the steps they take to prepare can play a significant role in the value of a business. If you’re overlooked, you might not achieve the freedom lifestyle you dream of.
Find out how your value to the family business as owner can be maximized and not be overlooked by reading an informative complimentary resource eBook titled, The Overlooked Owner.
- 3 common reasons for business owner exit and how each affects business value.
- What 4 areas in the preparation process can lead to a 36% increase in business value.
- Proactive steps they can take annually to ensure they are helping, not hurting their company’s value.
Don’t be overlooked! Get your free eBook now.