If you are a business owner struggling with frustration and overwhelm looking for how to survive in small business, in most cases, it’s not more marketing or more social media ads that you need.
The culprits are usually poor personal productivity and inefficient processes that make it difficult for you to operate at your optimum to attract and retain customers or employees.
Feeling overwhelmed by day-to-day operations is a common challenge for small business owners. If you have been able to tackle your feelings of overwhelm to prioritise your tasks, you are well on the road to recovery!
Your next assignment is to take practical steps as an owner to manage stress and regain control of your business. This article looks at 10 steps you need to take, starting with learning to manage your time.
This is followed by prioritizing and delegating tasks – if you have not already done so in a previous article – How to Fix Feeling Overwhelmed in Small Business.
Step 1: How to Survive in Small Business – Learn to Manage Your Time
To be an effective owner lead, you must learn to lead yourself FIRST before you can effectively manage others, whether they be your employees, suppliers, or stakeholders.
Start off by doing simple things such as allocating specific time blocks to different activities, like lead generation, client work, administrative tasks, and strategic planning among others.
Use the Pomodoro Technique. Work in focused intervals (e.g., 25 minutes) with breaks in between to maintain productivity and reduce burnout.
Step 2: Prioritize and Delegate Tasks
Identify your key tasks and focus on high-impact activities that contribute to the business’s growth. there is no point working on non urgent and important tasks, when you still have urgent and important tasks on the table. Learning how to do this is a skill which only gets better with time.
Learn to delegate. Assign lower-priority or time-consuming tasks to employees, or outsource tasks like bookkeeping, marketing, or administrative work. This will free up time for you.
Use a task management system in the form of tools like Trello, Asana, or Monday which can help organize and track tasks effectively.
A note of caution – invest in a simple tool that you and your employees will actually use, rather than one everybody finds too cumbersome and abandon a few weeks into set-up. There is nothing wrong if this is a simple shared spreadsheet, as long as it works for you!
Again, make sure you clearly spell out, upfront, what you would like the tool to do for you. These requirements will be the criteria you look for in any tool you will purchase.
Step 3: Set Realistic Goals
In a perfect world, this should really be Step 1 or 2, but since you are trying to dig yourself out of the arena of overwhelm, it has to take second place to proritizing and delegating tasks.
First, take a step back to look at your goals to see if you have properly defined them. Make no mistake, goal setting is “serious business” for any business that wants to be successful.
Break down your goals by dividing larger goals into smaller, manageable tasks. Celebrate small wins to stay motivated. Of course, having a business plan, and setting annual and quarterly goals will help!
If you do not have these structures in place, set them on your priority of urgent and important tasks that need to be done. Contact BCINC for assistance.
Regularly review and evaluate your weekly or monthly progress to adjust priorities and stay on track.
Step 4: Create Standard Operating Procedures (SOPs)
Ensure that you have the correct management systems and processes in place for your business to run efficiently. Document your processes and write clear guidelines for recurring tasks to streamline operations and reduce decision fatigue.
Empower your employees with SOPs which will allow them to work more independently, reducing owner involvement in every minor task.
Step 5: Automate Routine Tasks
Automate repetitive tasks like invoicing, payroll, and customer communications using software tools like QuickBooks, FreshBooks, or email marketing platforms.
Consider using a customer relationship management (CRM) system which can helpautomate follow-ups, sales tracking, and customer data management.
This can be a bit tricky for small business owners as there are tons of them in the marketplace – each claiming to be better than the next one.
BEFORE you make a decision, head over to the Resources page of this website and download a free copy of our Do’s and Don’ts when selecting a CRM for your business. You will be glad you did!
Step 6: Learn to Limit Distractions
Set boundaries and designate specific work hours and stick to them. Inform your employees and clients when you are available to avoid constant interruptions.
Give yourself a digital detox by limiting unnecessary time on social media or emails during peak work periods to help you maintain focus.
Step 7: Hire Help as Needed
As the business grows, it may begin to outpace your ability to manage day-to-day tasks, meaning that it may be time to hire additional staff or expand your team.
If you can afford to, hire help to increase your manpower. Of course, if your business is still struggling to find its feet, outsourcing may be a better option.
Step 8: Outsource When Possible
Wherever possible use freelancers and consultants to tap into their wealth of knowledge for assistance with activities where your limited, or lack of knowledge creates a gap. Hire these experts for specific needs like IT, marketing, or legal work, freeing up your time to focus on core business areas.
Step 9: Develop a Support System
Develop a mentorship and peer support system, because after all, you are not an island! Connect with other small business owners or join local business groups. Sharing challenges and solutions can provide relief and new insights.
Invest in growth and development of your employees so they can take on more responsibilities and help grow the business. Employees that see no opportunities for growth and advancement will become frustrated and eventaully leave your business. A revolving door of influx and exit of employees is not good for business growth!
Step 10: Invest in Self-Care
Putting this as item 10 should not diminish its importance! If you do not invest in sellf-care, overwhelm cn easily set in . Take regular short breaks during the day to help maintain mental clarity and prevent burnout.This will also improve your productivity and prevent errors.
Maintain your health, because, afterall, you only have one life to live! : Exercise, sleep, and proper nutrition are essential to keep stress levels in check.
Conclusion – How to Survive in Small Business
Understanding how to survive in small business is fundamental to your success as a business owner. Being constantly overwhelmed and frustrated will not help you in this mission.
Aside from taking necessary actions to address situations of overhelm, these 10 practical steps must be reviewed and a gap analysis conducted to see areas where work need to be done. The final requirement is that you now fix all these areas.
While it may be a lot of work and take time, this is the only route to truly eliminate (or reduce to a bare minimum) stress and overwhelm from your business.
Need help with getting the required work done quickly and efficiently? BCINC guides business owners to zero in on where they actually need to fix using simple custom business process improvement techniques for your business. Call or schedule a no obligations meeting today at https://improvebusinessprocesses.com/contact.
Related Articles
- How to Fix Feeling Overwhelmed in Small Business – 8 Steps
- Learn Ways to Manage Time Effectively – An Important Skill
- How to Set Clear Priorities – For Small Business Owners
FAQ
What must small business owners know on how to survive in business?
Small business owners must focus on understanding their market, managing cash flow, and providing great customer service.
They must also remain flexible, monitor expenses, and prioritize marketing to attract customers along with building strong relationships, use technology, and keep innovating to stay competitive.
Ultimately, success depends on knowing how to manage overwhelm and staying resilient while juggling these tasks amidst ongoing challenges.
References
Carter, T (2021) The True Failure Rate of Small Businesses: Understanding how and why businesses fail can help prepare you for success. Entrepreneur https://www.entrepreneur.com/starting-a-business/the-true-failure-rate-of-small-businesses/361350
