Business121 Small Business Newsletter #6

In this week’s Business121:

1. Generation stress
2. ‘Long hours cost millions’
3. Real stress-beating tips
4. Small Business News and Views
5. Don’t forget

Generation stress

It takes quite a lot to stress me out but two pieces of research I came across this week really managed to get my goat.

If these surveys are to be believed we have a generation of work-shy youths but whenever anybody tries to buck the trend they’re lambasted for putting lives at risk by working too hard!

The first of the two surveys was commissioned by Business Link for London and questioned 2,452 Londoners. The second surveyed 600 small and medium sized businesses.

Before I start my rant you can read them in their full glory here:
Survey of Londoners - http://snipurl.com/_No_Bottle
Survey of SMEs - http://snipurl.com/_plain_ridiculous

Let’s start with the online survey of Londoners. This study was released in the run-up to today’s ‘National Stress Day’, so I guess it was designed to highlight the danger of stress.

(And what is it with these ‘National Days of…’ they’re getting more spurious every year – what next ‘National Stubbed Toe Day?)

… anyway back to the survey. It found that two-thirds of the respondents aged 18-24 years said that the pressure of running their own business and shouldering the responsibility for making an idea work would put them off setting up on their own.

It seems that we have now bred a generation that fears the ‘pressure’ and ‘responsibility’ of starting a business. Now that terrifies me far more than bird flu!

As if that wasn’t enough, ‘fear of failure, working long hours and managing finances’ were also listed as ‘turn-offs’ to running a business. Unbelievable!

Well, at least their fear of failure is well-founded. If they don’t want the pressure or responsibility of running a business and are also turned off by hard work and managing finances, their failure is pretty much guaranteed.

The survey also revealed that our 18-24 yr old friends fear stress the most while the over-55s feared it least.

But why is that I thought? Well it’s probably down to experience. The fear of the unknown is often worse than the reality. The over-55s have experienced real stress and found ways to deal with it, whilst the youngsters fear the thought of it. Whatever happened to the invincibility of youth?

Maybe the Princes’ Trust should merge with the Samaritans?

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‘Long hours cost millions’

Just as I was calming down with a cup of camomile tea I stumbled a small piece in the Times with the headline, ‘Long hours cost millions’. I was so incensed by what I was reading that I had to find the original survey and the source of this bunkum.

It turns out that this, second piece of research, was commissioned by Employment Law Advisory Services (ELAS). Their survey of 600 small and medium sized businesses found that 34% of bosses regularly work more than 48 hours a week.

Shock! Horror!…more than 48 hours a week…ONLY 34%?

That figure seems low to me. I reckon that if you asked 600 bosses of successful small businesses you’d find that the majority would be working over 48hrs/wk.

The reality is that working hard increases your chances of success and we shouldn’t try to hide this fact. And neither should we allow 9-5ers to make us feel guilty for working hard or wanting to give our businesses the best possible chance of succeeding.

Peter Mooney of ELAS then goes on to claim that business owners are risking their own health and that of their business by working long hours.

Now, that’s just plain ridiculous – the exact opposite is true.

If you don’t work hard on making a success of your business, you are more likely to fail. Working 40 hours a week on a failing business is far more stressful than working 60 hours on a thriving concern.

Business owners enjoy work. And it’s this fact that seems to escape the do-gooders.

These box-tickers make the mistake of assuming that small business owners see work as undesirable, unfulfilling or stressful. It isn’t. They may find their jobs unrewarding and crave for the clock to strike 5 but we must not allow them to criticise our work ethic or stifle our desire to better ourselves.

It makes me angry that instead of being admired – the people working hard and displaying a determination to improve themselves are now criticised and discriminated against.

Hard work brings success and success brings a real sense of achievement and self-worth. These are the real long-term antidotes to pressure and stress.

Cutting the hours worked is not a solution. The answer is to do work that you enjoy. I, for one, would rather work 80 hours a week on my business than spend 40 hours working for somebody else.

Real stress-beating tips

Finally, as today is officially National Stress Day here are some ways to avoid getting stressed:

* Plan and prioritise – spend some time every week and every day working out what’s really important and work on those. Put everything else out of your mind.

* Avoid reading anything to do with the European Working Time Directive, they are officially the most stressful words a business owner can encounter

* Find an outlet – if you find your stress levels rising find an activity that helps you to relax. Physical exercise is often good as are yoga and simple breathing exercises

* Work hard on making your business a success – this will help you to avoid the stress of having to go back to work for someone else

* If there’s a particular part of your business that causes you stress get somebody else to do it. If it’s book-keeping and accounts, outsource it. Spend your time on what you’re good at and find fulfilling.

* Use Bytestart to help run your business smoothly! With over 500 articles I’m sure you’ll find some helpful hints and stay stress-free;

Try these for size:

Key Accounting Dates for Small Businesses
http://snipurl.com/Key_Accounting_Dates

Top 10 VAT tips
http://snipurl.com/Top10_VAT_tips

Top 10 Tips for Choosing an Accountant http://snipurl.com/choose_Accountant

Trademarks, Patents, Copyright - FAQ
http://snipurl.com/TM_Patent_Copyright

Small Business Insurance – Overview
http://snipurl.com/Insurance_Overview

Planning a Usable Website: A three-step guide
http://snipurl.com/_3_Step_Usability

There are hundreds more here - http://www.bytestart.co.uk

Latest Small Business News and Views

Choosing a name for your small business
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When starting up a new business, one of the first things you need to do is choose a suitable name for your enterprise. It is worth spending time considering the name, since not only will this be the first thing potential customers see, but it will also be with you for the duration of your venture.

http://snipurl.com/_Choosing_a_name

Web usability: The basics
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Web usability is about making your website in such a way that your site users can find what they're looking for quickly and efficiently. A usable website can reap huge benefits on to your website and your business.

http://snipurl.com/Web_Usability_Basics

To get ahead - get a good business plan
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Starting your own business is a major step that can be very daunting. But with careful financial planning and common sense, ACCA (the Association of Chartered Certified Accountants) says that what seems like a long and winding road can become a short, straightforward path.

http://snipurl.com/_Get_ahead

Skype targets small businesses for cheap internet phone calls
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Skype, the pioneering web communications outfit has just introduced a new service - "Skype Groups", enabling one person to buy and distribute Skype’s premium services to multiple Skype accounts.

http://snipurl.com/_Skype

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Don’t forget!

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