Being an entrepreneur of a young company is hard. There are endless challenges, most of which present themselves with no warning. It’s impossible to be totally prepared for things that running a business will throw at you, but one thing is certain: it’s easier to manage these difficulties if your personal life is in order. When we have lots of stress and worry at home, it can trickle over into the work we do in our business. Ideally speaking, there should be a strong division between these two areas of life, but that’s not always the way it works out.
Whether or not you are currently dealing with these private difficulties, here are some of the things to watch out for, both for your good and for the good of your company:
Personal Credit and Debt.
If you have set up your business properly, there is a strong separation between your personal finances and those of your business. However, this is not the way many people organize their lives. In the early days of many a business, entrepreneurs sink lots of personal dollars into the business to keep it afloat and growing. If this is allowed to go on too long there can be negative tax implications, and/or you can go into a lot of debt.
Having personal credit that is in shambles is a difficult thing to recover from for any individual, especially one who is managing the daily operations of a business. It all starts with paying off the debts that you can, starting credit inquiry removal for your credit history, and changing the way you use credit in the future. Getting this in order is central to all of your personal finances, and will make a huge difference in the way you do your business work.
Mental health difficulties are much more common than many of us like to think. The NAMI estimates that 1 in 5 US adults experiences mental health problems in a given year. Mental illness takes many forms. It’s important to understand the symptoms of common illnesses like anxiety, depression, mania, and others. In the pressures of an intense job, you may be in danger of developing such a condition, which could affect your work and your home life.
One of the most toxifying elements in an entrepreneur’s life is a negative primary relationship. If you have constant friction with a significant other or spouse, the demands of your work may make it difficult to resolve positively. This kind of stress has a way of sucking the life out of a hard-working individual, making it difficult to do the best possible work, with the greatest attention to detail, without experiences deep burnout. Give your relationship the time it deserves to help energize your work.
These are the main three areas that entrepreneurs struggle with in their private lives. Even though we like to think that we can leave these stresses at home, they have a way of creeping into our workplace mindsets and affecting our decisions and energy. Resolve them intentionally and your business will be much better of.