86: Maintaining Your Mental Health Whether You Are Starting A Business, You Are Self-Employed


86: Maintaining Your Mental Health Whether You Are Starting A Business, You Are Self-Employed, A Solopreneur, Entrepreneur, Mompreneur, Business Owner, Side Hustler, Freelancer, Bookkeeper, Virtual Assistant, Or VA


Did you know that entrepreneurs or business owners have a greater risk of struggling with their mental health than non-business owners? Taking the leap to start your own business, investing your finances, and pushing yourself to reach the goals you set out for your business can all contribute to these more significant risks. Your mental health is a big asset in your business, and understanding the signs when you may need help with your mental health and being proactive so that you can take steps to care for yourself and improve your mental health is essential for not only your well being but the success of your business as well. In today’s podcast episode, we’ll cover what you can do to maintain your mental health, as well as what to watch for so that you can continue to be mentally healthy for your business in the long run. Whether you are a self-employed individual, a solopreneur, entrepreneur, mompreneur, freelancer, small business owner, a remote, virtual, online, or in-house bookkeeper, or a virtual assistant or VA, it is the small steps that you can take to maintain your mental health. Learn how you can take the good days with the bad and know that you are the best investment you can make for your business so that your mental health will have a positive impact on your bottom line. These tips are essential whether you are using a computerized software system like QuickBooks, Xero, Wave, or FreshBooks for your business finances; or doing your bookkeeping manually with an Excel spreadsheet or even a Google Document…


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Show Notes:


Did you know that entrepreneurs or business owners have a greater risk of struggling with their mental health than non-business owners? Taking the leap to start your own business, investing your finances, and pushing yourself to reach the goals you set out for your business can all contribute to these more significant risks. Your mental health is a big asset in your business, and understanding the signs when you may need help with your mental health and being proactive so that you can take steps to care for yourself and improve your mental health is essential for not only your well being but the success of your business as well. In today’s podcast episode, we’ll cover what you can do to maintain your mental health, as well as what to watch for so that you can continue to be mentally healthy for your business in the long run. Whether you are a self-employed individual, a solopreneur, entrepreneur, mompreneur, freelancer, small business owner, a remote, virtual, online, or in-house bookkeeper, or a virtual assistant or VA, it is the small steps that you can take to maintain your mental health. Learn how you can take the good days with the bad and know that you are the best investment you can make for your business so that your mental health will have a positive impact on your bottom line. These tips are essential whether you are using a computerized software system like QuickBooks, Xero, Wave, or FreshBooks for your business finances; or doing your bookkeeping manually with an Excel spreadsheet or even a Google Document…


Welcome Back…The risks that a business owner makes with their business can cause many mental health problems. These risks can be anywhere from responsibility, financial stress, commitment, or overworking. Research shows that entrepreneurs have a greater chance of struggling with mental health than non-business owners, so today, I want to talk to you about signs you should be watching for so that you can maintain your mental health even when you own your own business.


First, let’s talk about some of the signs your mental health may be at risk. Do you find yourself worried, anxious, unable to sleep, burnt out, depressed, or stressed? Do you feel pressure to get your business started, continue your business, provide for your family and portray yourself as confident and successful? I want you to know that you are not alone, and you are not the only business owner struggling. Most business owners find themselves thinking these thoughts; even when they see another business owner, and it seems like they have it all together, when in reality, they may be struggling just as much as you are.


Taking care of yourself mentally, physically, and emotionally are all things you need to incorporate into your self-care routines. Make sure you are getting plenty of sleep, and if possible, try to schedule your sleep so that you have the same sleep routines each day. Try to get in at least 30 minutes of exercise each day. Don’t feel like you need to have a hard-core workout; this can be and should include something that you enjoy, like walking, yoga, or even dancing. And I’m sure you guessed already that I am going to talk about your diet. I’m not saying you need to be on a strict clean eating diet, but whenever you can, try to choose a healthier option or make a small change in your diet to be a little healthier, and try to get outdoors whenever possible. Getting the sleep you need, exercising, and eating healthier, will help you maintain your mental health as well as your focus on your goals and continue with the passion you have for your business.


Find time for yourself to relax. Carve out portions of each day to do something you love. What are your hobbies? What makes you happy? Have something that you can look forward to every day. You can also keep a daily journal so that you are able to write down how you are feeling personally and in your business. It's interesting to look back and see how your emotions impact the decisions you make in your life. Along with finding time to relax, you should make sure that you set specific times or hours when you are working and stick to them. Having the mentality that you are always working or always on is not a good work-life balance. Don’t push yourself too hard; you want to keep your overall health in mind. By setting these times and turning off your phone and computer, and disconnecting from your work, it will make it easier to enjoy your personal life.


Be careful when you are comparing yourself to others or other business owners, whether in person or on social media. The perception others give may not be the truth, but this may be enough to feel bad about yourself or your business. Many business owners struggled with their business before it became successful. Many still struggle even though it appears like their business is doing great. Some may find themselves working even harder with more pressure to fulfill sales or generate the finances needed in their business for paying expenses, especially large expenses like paying their employees. Larger business owners with employees not only need to make sure they are taking care of their own mental health but they have the additional pressure of working with their employees to be sure they are maintaining their mental health as well.


Solopreneurs can easily feel lonely and isolated when they are working from home or on their own. To help solve this issue, make sure that you are making it a point to network with others if you are in this situation. You can do this by joining your local Chamber of Commerce or other business networks either in person or online. Make sure that you are also taking time to be with friends and family. Know that you can talk to them about what’s going on in your business but have equal time for when you don’t talk business and simply enjoy the moments you have with them.


Your business will always have ups and downs. Take the good with the bad, and don’t think your business will always be perfect. When you take that perception away and view your business through a realistic lens, you’ll see nothing has gone wrong. Try to avoid mental exhaustion or fatigue in your business. All the little steps you make can go a long way. Your mental health is essential, and it is up to you to care for yourself enough so that you can continue to be healthy for yourself and your business in the long run. By being proactive, you can allow your mental health to have a positive impact on your business and your bottom line.


I want you to be aware of how you are feeling, know your limits, and seek professional help if needed. Investing in yourself is the best investment you can make for yourself and your business. Remember, there is much more to you and your life than only your business. Believe in yourself and hold on to your identity. Know what success actually looks like for yourself, not just from what you see when you look at others. Be yourself, and don’t hide who you are. Maintain success outside of your work, such as in your family, relationships, and hobbies. Your family and friends will always be there for you, even if your business fails. Know your limits on your finances and time availability with your business, and stay in tune with your mental health. Take time to think about what you are grateful for every day and know that you are only human. Even if your business fails, at least you took the opportunity to go after your dreams.


If you need help with your business, I’m here to help. As a Certified Public Accountant, Business Strategist, and Business Coach, I help business owners like you reach your next level of success and grow your business. I work with business owners who need help seeing the potential in their business, deciding which tasks they need to do next, and ensuring they are taking action to achieve the possibilities in their business. They have a clear path to accomplish their goals and increase profits. Their achievement rate is much higher because I am there to hold them accountable. I’m inviting you to schedule a free consultation session where we can go over any questions you have regarding your passion and business strategies. You can go to www.FinancialAdventure.com/Contact-Us and schedule a time that works well for you. During your consultation session, we’ll dig deep into where you currently are in your business and where you’d like to see yourself and your business in the future. I’m also excited to announce that I’m ready to open registration for my Strategic Bookkeeping Academy, so take a second and make a note that the Strategic Bookkeeping Academy is launching on June 15th, 2022. Also, note that there will be a promotion for founding members from June 15th through June 17th, 2022. This means that I created this new program, and I can’t wait for you to join and start taking control of your business, gain a deeper understanding and master your small business finances. This program will help you understand exactly what you need to do when you are doing your own bookkeeping for your business. It is also helpful for bookkeepers who are still working on their processes to deliver the best bookkeeping service to their clients. Having over 25 years of experience working with business owners, I understand where they struggle. This program is designed to help service-based business owners do their own bookkeeping with ease and has a strategy built right into it to achieve your financial goals. Since this program is new, I also created a special bonus and gift for you when you sign up in the first couple of days the program is open. So, if you want more information and be eligible for the promotional price, if you can’t wait to join, or are curious to learn more about the Strategic Bookkeeping Academy for service-based business owners, come join the waitlist. You can get on the waitlist by going to www.FinancialAdventure.com/SBA and clicking on the waitlist button, enter your email address, and I’ll send you the information to register during the promotional period. I can’t wait to see you in the program. I’ll post links to this and other valuable resources for business owners and bookkeepers where you are listening to this podcast and in the show notes.

And, you know I’m going to ask…what’s at least one thing you will take away from this episode that will help your business succeed and grow your bottom line? If you need some accountability, join our PRIVATE Facebook community and post your action item, we’d love to support you.

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