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The Business Owner’s Guide To Mental Health

Mental health is a major concern in today’s world, with millions of people across the country struggling with increasing levels of anxiety, depression, and other mental illnesses.

Business owners are especially at risk, with Forbes reporting that more than 40% of business owners are struggling with burnout and their mental well-being. If you’re feeling like this, here are a few tips that might help you improve your mental wellness:

Avoid financial surprises.  

Capital One recently found that 73% of Americans say their finances are their number-one cause of stress. But money doesn’t have to be so stressful! While you can’t always predict a costly emergency, working with an accountant throughout the year can help you avoid many other unexpected costs, like a surprise tax bill. With a good accountant by your side, finances can be one less worry on your plate, allowing you to feel more in control of your situation.

Set realistic priorities.  

One of the best ways to identify when you need to shift in one direction or another is to look at your tasks and commitments and prioritize them. Consider deadlines and due dates, how firm those deadlines are, and how important the task is to your overall success and happiness. Remember to include relationships as part of your bottom line—not every return on investment is monetary.

Don’t overload yourself or commit to doing more than you’re able. Consider what you can realistically get done in your time frame. If you’ve already over-committed, prioritize your tasks. Do what you can, and for what you can’t…

Communicate honestly and promptly.  

You’ve probably heard it before: communication is key. It’s a common piece of relationship advice, but it applies to all relationships, both at work and at home. When problems arise, let people know as early as you can if a commitment you made can’t be met. If possible, reschedule for when you will be able to meet their needs.

Keeping communication open—with both your clients or customers, your staff, and your coworkers—can help avoid a lot of stress. Make sure you communicate with your coworkers and employees when you’re going to be away from work, and make sure you let your family and friends know when work has priority.

Set boundaries.  

Don’t feel like you have to keep work and life completely separate. For business owners, work and life often feel like pieces of a puzzle that need to fit together for the picture to make sense. That said, it’s important to not let the lines between work and life disappear completely.

Whether it’s a designated time to leave the office, a set number of tasks you can take on, or turning off your notifications when you’re off work, keeping a boundary between work and personal time can help make your rest time more restful. If you work from home, try not to allow yourself to continually return to your workspace when you’re off the clock.

Take advantage of technology.  

Technology is one of the best ways to manage both work and life. A calendar app can help you keep track of meetings and family obligations, so you don’t double book yourself. With technology, we are no longer trapped into only being able to do work in one location. Cloud-based services can help you take your business documents on the go, so you can work anywhere. This can be helpful in allowing you to act quickly and make the shifts you need to make.

Say no.  

Especially if you’re a people-pleaser, it can be very easy to get in the habit of saying “yes” all the time. You want to be able to help every client or customer, pick up every task, or take every opportunity. But too many “yeses” will leave you spread too thin.

When you’re considering a new request or opportunity, think about it carefully. Is it something you would be enthusiastic and excited to say yes to? Are you ready and available to say yes? If you’re reluctant or unprepared, it’s okay to say no. Because “yes” answers require your time and energy, you don’t have an unlimited supply of them.

Consider your physical health.  

Your physical and mental health are closely linked, so remember to pay attention to both. Getting regular check-ups from your doctor, exercising and eating a nutritious diet can all help improve your overall well-being. Try taking a walk during lunch to take a break from your computer and get some fresh air.

And don’t forget to take time off when your body tells you to and get some rest. We all know a good night’s sleep can make a big difference in how we feel.

Don’t do it alone.   

Mental health is as nuanced and individualized as physical health, so no solution is one-size-fits-all. As with taxes, mental health is something you shouldn’t hesitate to discuss with a professional, especially if you are struggling with serious negative thoughts or intense anxiety.

If you’re feeling overworked, don’t be afraid to delegate tasks to others. That’s where Padgett can help. Finding a full-time tax and accounting partner can help take some time-consuming tasks off your plate so you can spend more time and energy on the things that matter most. Reach out to a Padgett office near you today to find out how we can help get your life back in balance.

We encourage you to contact us with any questions.

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