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Although some economists have called an end to the recession that began in 2008, many business owners continue to be stressed in 2013 over financial issues. Some owners wonder if they can stay in business, given the volatile economic climate around the world. Others stress over health care or personal issues that have manifested from uncertainty. Stress itself can be damaging, which is why it’s important for people to manage stress. The following tips can help reduce stress while creating a positive attitude and increasing productivity.
Identify the causes of stress
Think about the root of your stress by reflecting on situations and writing them down. Use your own method, whether it involves writing down situations in story form or generalizing events with bullet points. Make a timeline of how problems unfolded then summarize the issue with a word or short phrase. Possibilities may include financial matters, miscommunication, upcoming deadlines or illness.
Change the way you work
Sometimes falling into routines can become dull or make you feel trapped. Figure out a new schedule that breaks the pattern. Analyze your priorities and rearrange them if possible. Shifting your focus can help develop goals that may have fallen through the cracks. By experimenting with new ways to accomplish tasks you will gain a fresh perspective that may open new doors to success.
Take some exercise
Physical exercise, as well as eating healthy food, can raise your energy level, which can improve your self-confidence. Even walking or jogging around the block can help make your blood circulation flow better, giving you a feeling of well-being. Something to consider if you want to improve your health even more is join a physical fitness program in your neighborhood, which can also expand friendships and opportunities. After a work out try taking deep breaths then relax.
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Take time out
All work and no play is simply not the best way to enjoy life. If you find yourself working around the clock day after day, figure out how to inject recreation into your schedule. Take a short vacation, even if it’s just for a day. Visit art exhibits with friends or see local entertainment. Music and comedy are two of the best remedies for stress.
Most businesses are caught with their guard down when a recession occurs. Business owners and management are often ill prepared to deal with the economic realities of business crises, and for those who do not learn to cope with this struggling environment, business closure is often the result. As a business there are things you can do to survive the economic downturn.
If there was ever a time when a business needs to concentrate on making the sale, it is during a recession. This is the time when you need as much cash inflow as possible and sales are your best way to stimulate this. Use clever marketing techniques and focus your key resources on sales with minimal advertising. One of the time tested marketing strategies is taking extra care of your customers to increase loyalty, even when the economy recovers.
Communicate and Negotiate
A company that has effective communication with personnel, key suppliers and customers is very likely to survive the recession. Use proper communication to negotiate better credit terms with your lenders and suppliers, shorter credit periods with your debtors and lower salaries with your employees in order to maintain healthy finances.
Build a Strong Management Team
Most businesses choose to downsize their operations during business crises by cutting down the number of employees including key management staff. Strong leadership is essential for survival in a competitive environment and you will need key personnel when the economy recovers. Use this time to enhance key people\’s skills for a strong and cohesive management team.
Measure and Improve Your Effectiveness
The decisions that you make during a recession will be instrumental in the direction your company heads after the recovery. Put in place control measures to gauge the effectiveness of decisions and identify shortfalls for correction in advance.