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5 Personal Challenges That Can Derail Your Small Business

5 Personal Challenges That Can Derail Your Small Business

There are many components that sustain a thriving business, such as good personnel and leadership. Since you, as the business owner, are a big part of your company’s leadership, this means you have to pay close attention to your personal life because the company rests on your shoulders.

The following are five personal challenges that you need to address sooner rather than later, unless you want your business to suffer:

Substance Abuse

It might be hard to bring up untreated substance abuse, but this is something that affects a number of people. Cocaine, meth, or opioid addiction can cause all sorts of issues for business owners including poor decision making, financial troubles, and serious health problems that keep them from doing their jobs.

Some people who abuse drugs have trouble sleeping, which affects their ability to concentrate or feel rested. Substance abuse could also make a person irritable, and the job of a business owner can be stressful, which is not a good combination. The result is an increased chance of business failure if steps aren’t taken to get clean.

Credit Problems

Credit problems could make things a little harder for a business owner; for one, dealing with excessive debt puts added pressure on you when you already have enough to deal with. Pressure or stress can overwhelm a person, making it harder to focus or make smart decisions.

This could compromise your ability to lead your own company. It should be pointed out that having bad credit could also put obstacles in your company’s path if you need to take out loans. Money problems could also tempt you into taking more revenue from your business than you should, instead of investing it back into the business.

Night Time Woes

It may not seem like poor sleep patterns is something a business owner has to worry about, but as alluded to earlier, poor sleep could make it hard to concentrate, learn, or even control your emotions. As a business owner, you are likely going to use all of these skills to help your business grow.

Lack of sleep could also increase the chances of making mistakes, and those can cost you money. It should also be pointed out that poor sleep has been linked to countless medical conditions, such as heart disease, which could also put your business in danger.

Bad Dietary Habits

Eating right can do a lot for your overall health, which is something most people know. The problem is that some people do not know how much the body is affected by eating habits and how those effects could help or hurt your company.

For example, eating foods that are high in protein, such as nuts, could give you a little more energy throughout the day. Foods that are high in processed sugar or saturated fats could make a person feel fatigued, which is not good for your business.

Lack of Exercise

Exercise is one of those things people do for themselves, but the truth, is you should also do it for your business. Staying fit not only helps you stay in shape, it also promotes longevity.

If you are planning to see a lot accomplished with your business, then you want to live as long as you can. Letting yourself become unfit could lead to medical issues that you do not want to deal with. You are not only going to feel fatigued from time to time, but you might get sick more often, which means you’ll be missing work more than you should.

These are just some things you need to address if you do not want to face unnecessary challenges as a business owner. You are going to face the challenges that every business owner faces, you don’t need more brought on by personal failings.

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by Brian Perry // Brian Perry is a contributor to Businessing Magazine.

Opinions expressed by contributors are their own.