A few days ago, as I had my morning coffee, a reader messaged me, saying, “I’m overwhelmed with opening a business I need steps.”
And it’s not the first time I’ve had a message like this one.
Starting a business can be challenging. If you are a self-employed entrepreneur or are considering opening your own business, you’re bound to feel overwhelmed at some point.
The fear of failure strongly withholds you and stops you from taking that leap of faith. And that’s completely understandable.
But that’s what I’m here for, and today, we’ll talk about 11 steps you need to take before you start a business.
11 steps to take if you feel overwhelmed starting a business:
1. Understand that feeling overwhelmed is normal
Starting a business is like taking a test; you give your all into it, but you still think you are not ready, and you’re scared whether you’ll pass or fail.
Setting up a business is not easy, and it takes a lot of courage. Especially if you’re putting all of your financial, emotional, and physical investments into it, it’s essential to understand that feeling overwhelmed is a healthy physical and mental response.
Remember, the calmer you are before a test, the higher your chances of focusing on it and getting better results.
2. Build a full-proof business plan
“Failing to prepare is as good as preparing to fail.”
As philosophical as that may sound, every business person needs to understand this singular line. Because if you are not prepared for what’s coming, you won’t know how to deal with it when it hits you. Plus, not being fully equipped is also why we stress so much before a test, right?
Instead of feeling overwhelmed and scared, transfer all of that energy into building a master plan. A full-proof business plan will give you the confidence that you have done your research and make the right decisions. Do your research, monitor your financial budgets, and SWOT analysis.
3. Educate yourself about business
Ever wonder why obstetricians recommend to-be mothers to read books about pregnancy and labor? Because understanding and educating themselves about the topic will make them less overwhelmed.
Similarly, suppose you are about to become a parent to a business of your own. In that case, it’s a good time for you to educate yourself about your particular business domain and the business industry in general.
There are endless things to learn about business. Continually educating yourself will keep you feeling confident and motivated.
>> 9 Subjects You Should Major In If You Want To Start Your Own Business
Bill Gates, Elon Musk, and Jeff Bezos still learn and have the same advice to upcoming entrepreneurs.
4. Start affirmations daily & be positive
Daily rituals of affirmation will give you confidence and encourage a positive mindset. I’m not joking!
Affirmations work, and there is scientific evidence to back them up, such as this research paper published by Sherman back in 2009.
See, feeling stressed and overwhelmed directly affects your sympathetic nervous system; they’re interconnected.
In this study, Sherman and his fellow researchers found positive effects of affirmations on sympathetic nervous systems.
They reportedly calm your nervous system and ultimately relieve stress and reduce the feeling of being overwhelmed.
Check out our inspirational quotes about life to help you kickstart your day with some positivity.
5. Adopt the one thing method
Have you read The One Thing book by Gary Keller? If not, you should!
When you’re starting a business, a lot of things hurdle up and stress you out. There’s financial worries, social pressure, physical exhaustion, and much more. When too many things make your mind cloudy and rushed, you feel overwhelmed.
The art of focusing on one thing at a time can help you to focus on what’s essential in your business. Doing this can help you declutter and clear your mind and feel less overwhelmed.
6. Get a mentor
If you think I am talking about getting you a teacher, you are wrong. A mentor is a successful professional who has enough knowledge and experience to give you a hand.
These mentors, if genuine, usually do not ask for anything in return. They give you their sincere advice and share the knowledge with you with positive intentions. Genuineness and selfless attitude is what makes a good mentor. And that’s what differentiates between teaching and mentorship.
>> How to find a millionaire mentor
A mentor can provide you with advice and encouragement when you need it the most. Such support will be not only valuable for your business but also for your mental health and growth. When you’re feeling overwhelmed with opening a business, make sure you go to the right mentor for help and guidance.
If you’re a budding entrepreneur who is just starting a business, I highly recommend checking out the 5-minute millionaire money mentor.
Watch the video below to find out more.
>> Click here to learn from the 5-minute millionaire money mentor.
7. Ask for help when needed
Just like you need support from a mentor, hearing the right things from your friends and family, having their support, and seeing them by your side is also necessary to calm you down when you’re feeling overwhelmed.
Remember, there’s absolutely nothing wrong with asking loved ones for help or guidance when you need it.
Talk to your friends, family, and maybe ex-colleagues. The ones that genuinely care about you will reach out and give you a helping hand. And believe me, you’ll need all the helping hands you can get.
8. Meditate every day
Now, let’s talk about another natural way to get rid of this feeling, shall we? Here it is; meditation. Please hear me out!
Meditation has been a popular expert-recommendation in the past, and it can help you relax and feel less anxious. It will also help you focus and think clearly about your business. Many entrepreneurs meditate daily, including the ones on your vision board!
Take my word for it and meditate 10 to 20 minutes every day, and you will soon sense a significant difference in the way you feel.
Even this 5 guided minute meditation by My Peace of Mindfulness, can help you to overcome feeling overwhelmed.
9. Have a good morning routine
The way your day starts has everything to do with how you feel throughout the rest of your day. Going to bed late, waking up grumpy, and checking your phone right away is not how you should start your day as an entrepreneur!
If you know that a lot of things are coming your way in the following hours, make sure you wake up and have a good, productive morning routine so that you’re ready to handle it.
Adopting the right, healthy morning routine will help you to start your day off in the right way.
Here’s what business owners do every morning:
- Drink water
- Go for a run or do exercise
- Morning meditation
- Reading
- Writing down your goals in your Bullet Journal for work
10. Learn to say no
If you tend to agree to every plan anyone invites you to, let that habit go. Please repeat after me: you cannot and should not make everyone happy or put them before you. Learn to prioritize yourself, especially when you’re starting a new business.
When you’re an entrepreneur, pleasing everyone is impossible, and you will always feel overwhelmed with everything you’ve agreed to do. Minimize the commitments that you don’t have time for, or you didn’t even want to do in the first place. Say no and take on fewer tasks that do not let you focus on opening your business.
11. Build a network
A journey gets more comfortable when you know other people on the same boat. Find other entrepreneurs and business owners who understand the pressures and problems of opening a business. Doing this will open your mind, give you perspective, and truly help you in the long run. Plus, you will have someone to go to when you want to rant!
Factors to consider when starting a business
Now that you have hopefully conquered feeling overwhelmed, here are a few extra factors to consider when starting a business. Understanding these aspects and taking care of them at the right time will also help you feel less overwhelmed and anxious.
Funding, budget, and finance
The financial aspects are an essential part of your business, especially the budget. Ensure you know where the funding and investment are coming from, when it’s coming in, and your budget. Develop the business plan according to this budget and try not to exceed it in any way. If you do, you’re risking bankruptcy.
You also must know the basics of making profits and avoiding loss. I know that not everyone has a professional degree in finance, but knowing these matters saves you from many troubles and confusion. Plus, you’re not wholly dependent on finance managers and supervisors. Business owners and entrepreneurs should know enough to back themselves up and understand what’s right and wrong. Knowing this helps them maintain the credibility and financial stability of their business and also avoid being scammed.
Just a tip: always keep a portion of that budget tucked away for emergency scenarios. It can come in handy.
Legal stuff required for opening a business
Even though many think businesses are about creating a product and selling it, it’s not entirely true. Taking care of legal matters and keeping them in mind throughout your business development is crucial. These matters include taxes, copyrights, brand protection, hiring and firing employees, and much more.
Not being legally protected or aware can get you into trouble. You don’t want that right at the start of your business; trust me. With your business just starting, the last thing you need is having to show up at court meetings and having your company’s reputation ruined.
Marketing
If people don’t know about your service and product, no one is going to buy it. And once the four people in your neighborhood have already tried your business, you’ll be out of customers. Sounds miserable, right? That’s why marketing is essential.
The right marketing strategies can help you spread the word and advertise your product to a broader audience. The more groups of people that know about your business, the more you’ll grow, make sales, and thrive. There are dozens of ways to make this happen, and you have to think about the methods you want to go for, how much you can invest in it, and other essential details of the sort.
Choosing the right employees and team
As a business owner, you develop a business. Your employees take it forward and make it successful, believe it or not. Thus, it is of major importance that you choose your employees or your team carefully. Hire based on essential and long-term features like talent, skills, and experience. The more creative and passionate the team, the better your chances of skyrocketing your business to heights of success.
Apart from choosing the right people, you also have to think about how you will convince them to join you and make them stay. Employee turnover is an essential part of a business, and you must think about it. Ironically, most naive entrepreneurs skip this part out of the preparation and then suffer the consequences. Don’t be one of those entrepreneurs.
Location
Do you want your office to be on a busy street uptown? Do you want your restaurant to have a view? Or would you instead work from home and have meetings in your lounge every weekend? The options are endless, yet the decision is crucial.
Your business’s location depends on your products and services, your target audience, and how you wish to operate the company. This location also determines the kind of audience you’ll attract your sales rate and your business’s overall growth. It is also a one-time investment, and you cannot keep changing it (well, for most business types). Thus, it would be best if you chose wisely.
Conclusion
In conclusion, feeling overwhelmed when opening a business is very common and natural and should be normalized. However, this feeling can also bring you down right at the start of your business journey. Thus, you must combat it and get rid of it as much as you can. The 11 steps that I mentioned above are experience-based and scientifically-proven to help. They are highly effective, and I’ve constructed the list based on my personal experience and knowledge.
Hopefully, all this valuable information will kickstart why you need to overcome the feeling of being overwhelmed and how to do it.
So buckle up! You’ve got a long way to go.
