Business balance is crucial
STARTING a new business can be an exciting time.
The prospect of being able to fulfil your dreams, to embark on a new opportunity that holds the promise of freedom and flexibility as the master of your own destiny, and to reap the rewards from your own efforts is an appealing prospect for many.
As in the great Aussie tradition of “having a go”, many people are driven to take that leap of faith and start their own business.
We all know the statistics on business success and that many will fail before they reach their first anniversary. The first few years of any small business are crucial and having the right supports in place, as well as having the underlying ability to weather any storms, both financially and emotionally, can make the difference between success or failure.
No one ever started a business to fail, however some of the most important lessons a business operator can learn are in those moments where there seems no way out but to close up and move on.
Just about every person who has ever owned or started a business can relate to that situation, but not everyone has the same capacity to manage the ebbs and flows that being in business brings.
Being self-employed can certainly offer a sense of freedom, lifestyle and flexibility. But talk to any business owner and they will likely tell you that they work much longer hours than when they were an employee, they have less personal time for themselves and their family, they may feel trapped and pressured by financial constraints and the need to be available 24/7, are weighed down by the constant burden of responsibility for the success of the business and they may feel isolated and overwhelmed.
The excitement of starting a new venture can soon turn into a nightmare without the necessary support and assistance in place.
The mental health of small business operators is a key concern in many communities.
HeadsUp is an initiative of the Mentally Healthy Workplace Alliance, which was established by the National Mental Health Commission and Beyond Blue. It encourages workplaces to take action on mental health and provides a range of online resources and information.
The HeadsUp website also has a section devoted to small business owners with information about how to look after their own mental health. The site offers many great tips and advice such as keeping your hours in check, maintaining a healthy lifestyle, staying connected and accessing supports, such as through a business network and accessing a business mentor.
The Geelong Chamber of Commerce supports initiatives that address the mental health of small business operators.
Interestingly many members join the chamber to promote their business and to grow their network, but one of the key factors that many long-term members cite when asked why they remain a member is the social interaction and the contacts they make.
Being able to talk to other business people about common business issues and struggles and being able to access mentoring and business support when required is contributing to positive mental health outcomes.
The Geelong Chamber of Commerce actively supports the mental health of business operators through activities like monthly networking events that provide an important opportunity for social interaction, community connectivity and establishing peer support networks. A healthy balance sheet is not just about dollars and cents.