Managing Stress as a Small Business Owner

Business, Journal,  Principals

Operating your own real estate business can be incredibly satisfying, however, it isn’t an easy job – balancing the finances; growing the business; managing staff. With so many balls in the air, at times it can feel overwhelming even if you’re the savviest entrepreneur running the most successful agency.

Balance is key, and looking after your mental wellbeing is important to stay on track and help you and your team perform at their best. With 1 in 5 Australians facing a mental health challenge in any given year, we are all impacted by mental health, either ourselves, or someone we know.

In the current environment, small business owners have faced challenges like never before. Whilst stress is a common response to tough situations, ongoing stress can be harmful. We all have different stress triggers – loss of income, family or relationship breakdowns, health concerns for you or a loved one. It’s important to identify the signs of stress as a first step to supporting yourself and your employees.

 

Managing Stress as a Business Owner

Running your own business, can often mean there’s no such thing as an 8-hour workday, where the boundaries of work and home life are blurred. Practising simple daily habits can help manage stress before it become a more serious problem.

• Be mindful of the hours you work and set boundaries: Set a limit for how many hours you will work each day and then stick to it. If this isn’t always possible, be intentional about how you will carve out time to balance out the workweek or how you’ll spend your time outside of work more meaningfully.

• Practise some habits that help with wellness: Countless studies have proven the benefits exercise brings for stress. It doesn’t have to be strenuous – something as simple as a half-hour walk 3 to 5 times a week. Relaxation techniques such as deep breathing, yoga, or meditation can also help with stress, even if they’re practiced for a few minutes each day.

• Set aside time each day for an activity that you enjoy: This will help you take a step back and gain a fresh perspective on any stress and pressure you’re experiencing.

• Talk with a trusted mentor or colleague: Even if you’re an experienced manager, you may have sources of stress that are too big or complex to handle on your own. You’ll benefit from getting a different perspective from someone you respect.

• Contact your GP if you feel you are having trouble managing  stress: Talk with your healthcare provider if you are concerned about any aspect of your physical or mental health.

 

SEE ALSO: Identifying Signs Of Stress

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Helping Employees Manage Stress

Regardless of whether your employees’ stress is caused by work related factors or their personal life, there are steps you can take as an employer to provide support.

• Take a genuine interest in the wellbeing of your employees: Even small gestures such as asking how they’re doing can make a big difference. RUOKhas some great resources to help you start a conversation.

• Encourage employees to take short breaks at work to reduce stress. Even a 10-minute break from a stressful or tense situation to get a few minutes of fresh air can really help.

• Offer flexibility: This includes such things as time off or adjusted working hours to support employees with challenges they may be facing in their personal life.

• Help to prioritise work: Work together to identify tasks that can be put aside versus those that are more pressing, and set realistic deadlines.

• Make roles and expectations clear: Lack of information or uncertainty about roles, goals, duties, or responsibilities is often a source of stress in the workplace.

• Be aware of how many hours people are working:If someone’s hours seem particularly long, review workloads and  encourage time off to recharge.

• Invest in an Employee Assistance program: One that offers your staff access to counselling services and resources to help them manage stress are a good starting point.

 

Affordable and Accessible Wellbeing Support

Many real estate owners are turning to technology to help their business and help improve employees’ mental health. One example of an affordable, technology-based solution is LifeWorks, a counselling and wellbeing program that’s largely delivered through a mobile app. As well as personalised wellbeing content, LifeWorks gives employees access to qualified counsellors (face-to-face or over the phone) who can assist with problems ranging from anxiety and depression to stress, financial challenges and feelings of social isolation. Support is also available to help business owners optimise their own wellbeing and address management challenges.

LifeWorks and Aon are now offering an exclusive arrangement and preferential rates to their small business clients including real estate agencies to optimise the mental, social, physical and financial wellbeing of employees and their families. To learn more visit aon.com.au/lifeworks or download a brochure.

This article is kindly reproduced with kind permission from Aon and originally published here.

Disclaimer: This information is intended to provide general insurance related information only. It is not intended to be comprehensive, nor does it, or should it (under any circumstances) be construed as constituting legal advice. You should seek independent legal or other professional advice before acting or relying on any of the contents of this information. Aon will not be responsible for any loss, damage, cost or expense you or anyone else incurs in reliance on or use of any information contained in this article.

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Great training course was very informative. I feel I gained lots of knowledge and there is a lot of support from the REIQ team online, via phone and in person and am looking forward to starting my career in the real estate industry!
Laura Stills
Laura Stills
08:14 22 Oct 20
I found the REIQ Real Estate Licence Online Training Course was very good, easy to access, with brilliant course materials to read and assignments that really checked on your understanding of the details of every aspect of real estate practise. I enjoyed the course even though it took a few months due to working full time and found the support of the trainers and assessors very helpful and encouraging. Thanks REIQ Training team for helping me through!
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Good course. Materials and tools given to finish the course easily. Was no problem to finish. Support is there if needed it.
Jade Dodds
Jade Dodds
09:11 09 Oct 20
I would like to share with you our experience that we have recently had through the REIQ Professional Development Team.We have had an awesome start to 2020 thanks to the great service provided by the REIQ Professional Development Team. Congratulations to Liz who started and finished her Certificate of Registration Course with the REIQ in December 2019. She loved the training, particularly the fact the trainers are experienced and still walk the talk and are active in real estate. Fast turnaround for marking of the assessments with help on hand by way of tutoring if needed meant she could get the Application to Office of Fair Trading for her registration happening quickly. We are thrilled, from start to finish with the course and application to Fair Trading she had her Certificate of Registration within 5 weeks. Really impressed with the training, help and support team REIQ gave Liz and the quick processing time by the Office of Fair Trading.We also regularly use the Property Management Support Service and General Agency Advice Service and believe it offers great value for our membership. The PMSS team provide practical advice by practising property management professionals who can relate to the everyday challenges property managers face.Keep up the good work Team REIQ,
RE/MAX Ignite
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I cannot recommend REIQ enough. The training, environment & staff were beyond my expectations. A special mention for Rachael who is a trainer at REIQ. Rachael knows her stuff. Her knowledge of the industry and style of delivery helped me get across the line and score my dream job.
Paul Conway
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05:11 15 Jan 20
I wasnt sure that I would get through the Agents and Licence course with everything I had on, made an attempt a year ago with another provider that went totally pear shaped but the REIQ course is structured in a way that made sense. While all of their trainers are experts in their field, they offer onsite student support on Tuesdays with Rachel providing the right advice and reassurance to get you there, even if you havent studied for a while. If you've ever wanted a career in Real Estate this is where you get started!
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Great staff that are always helpful.
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Recently completed my Licence course and thoroughly enjoyed the in-class tutorials taught by highly professional trainers with many years of industry experiences. The student support that is available every Tuesday is an extremely helpful resource, again with very experienced trainers to ensure you get the right advice the first time. REIQ has really structured the entire full Licence course end to end thoughtfully, especially when you’re new to this industry. Highly recommended!
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Julian Phua
07:01 02 Oct 19
Recently I completed the Real Estate Licensing course at REIQ and was blown away by the help and support provided by Ms. Connie McKee who is a trainer at REIQ. Connie is very professional and has years of knowledge and work experience in the Real Estate Industry.I am glad I chose REIQ as my pathway into the Real Estate Industry.
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Just done two days interactive training with Melissa Sullivan. Sensational! Such a great presenter and electric delivery of material. Quick paced and hands-on!Very glad to have been in this class!!! Awesome
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Haydn Denovan
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Had Melissa Sullivan conducting the sales registration course for the past two days I have to say I think this woman is inspiring she kept the class focused and engaged throughout the two days. I dont normally complete surveys but felt that I wanted to share that this lady has inspired me to give sales ago and I never thought i would say that as i have been a PM and honestly never thought I could see myself as a sales agent... Thanks Mel for such a great two days
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Karen Riddell
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