Some people believe that on average, entrepreneurs work 60 hours a week. However, if you’re a small business owner, the truth is that you’re always working to some extent. Your phone is on 24/7 in case of emergencies, every new contact you meet could lead to a new opportunity, and each economic development could have a powerful effect on your business.
In short, you never really get the chance to sit back and relax. But while this may seem like the best thing for your company, it can lead to burnout. That, in turn, can adversely impact your business. To learn more about the costs of running a business and where to go for business insurance plans, get in touch with Grand Mutual Insurance. We have the expertise as a business insurance provider, to keep you protected from the unexpected.
What Is Burnout, What Causes It and What Are the Consequences?
Burnout is a devastating condition that can wreak havoc with your health. The result of excessive stress, it’s a state of emotional and/or physical exhaustion that brings with it a loss of personal identity and a feeling of reduced accomplishment, according to the Mayo Clinic.
Symptoms of burnout can include:
- Persistent fatigue
- Changed sleeping habits
- Loss of concentration
- A lowered immune system
- Frequent headaches or other types of pain
- A lack of motivation
- Substance abuse
Burnout can be caused by several things, including overly monotonous or chaotic work, a poor work-life balance and a lack of social support. That means that if you’re a small business owner who’s trying to wear many different hats, who’s always “on” and who’s becoming more isolated from your social circle due to the demands of your occupation, you’re at risk of suffering from burnout.
The consequences of burnout shouldn’t be underestimated. They can include chronic fatigue, depression, insomnia, long-term substance abuse, high blood pressure, heart disease, and type 2 diabetes — all of which are likely to adversely affect your quality of life. In fact, some can even shorten your life expectancy.
How to Prevent Burnout From Adversely Affecting You and Your Business
Clearly, preventing burnout is critical to your health — as well as the health of your company. After all, without your vision and strategic thinking, your employees might not be able to successfully run your business. So how can you prevent burnout?
According to Forbes, taking proper care of yourself is key to burnout prevention. This involves exercising sufficiently and getting sufficient sleep — seven to eight hours per night is recommended for adults. Additionally, you need laughter, as it’s a proven stress buster.
You should also learn to maintain a healthy work-life balance that provides you with enough downtime. To achieve this, you’ll likely have to start delegating some of your responsibilities to your staff. This can in itself be a stressful thing to do, so start small, with one or two tasks so you get used to trusting your employees. Then, once you’re more confident that they can handle these matters, you can delegate more — and more important — tasks. Finally, try to spend more time socializing. This will help you build a bigger and stronger network of social support, which in turn helps you feel less isolated and disillusioned.
Be Proactive to Protect Your Business with Business Insurance
Burnout is a very real threat for small business owners. But by being proactive about maintaining a good work-life balance and looking after your health, you can avoid burnout and by extension protect your business. To learn more about ensuring the longevity of your business and what a business insurance provider can do for you, contact Grand Mutual insurance today!