Choosing to become self-employed can offer a wealth of benefits, including creative control and the freedom to run your business as you see fit. However, the price that you pay for these benefits is often a greater personal responsibility, with all of the stress and worries that come along with that.
The workplace can be a leading source of stress in many people’s lives, and this can be compounded when you’re a sole trader. When you consider the past year that we have had, with the rise of Covid19, restrictions placed of businesses and the threat of another recession, the pressure being placed on self-employed workers is greater than ever before.
When you’re running a company, with all of the responsibilities that come with being the boss, it can be easy to forget about yourself. However, putting your wellbeing first will benefit not only you but also your company and long-term success.
Community
As the name suggests, sole traders have a tendency to work on their own- which is one of the major attractions for many people. However, working without a team around you can be isolating. Team environments cannot only be collaborative and grounding; it also promotes socialising, which in itself can be a significant boost to wellbeing.
When you work alone, it can really help to branch out to the wider community. This can include joining groups or even just getting to know your local businesses. It doesn’t completely replace the benefit of a team atmosphere, but it helps to create a support network, which can be a source of relief during stressful times.
Recognise Success
Acknowledging and even celebrating a job well done tends to be one of the aspects of work-life that is sacrificed when you become self-employed. Whereas a company may reward their employees after they meet a specific target, sole traders don’t really get the same fanfare. However, marking and celebrating progress can be incredibly important for morale and overall wellbeing.
Just because you are the boss, and in some cases, the only employee, doesn’t mean you can’t stop and appreciate progress. Try to regularly acknowledge the time and effort that you have invested into your company. You could even celebrate the occasion with a meal or a gift to yourself.
Accept Help
Independence can be an incredibly useful quality in the workplace, particularly in self-employment. However, it also has its drawbacks. Sole traders are by definition, their own boss and therefore have to deal with all of the responsibilities and pressures that come with that. Whereas within a normal company, an employee would have the wider safety net of safeguarding practices and human resources, this is more difficult for sole traders. When self-employed, time off can mean the entire business is shut, or in the least, temporarily managed by another party.
Whilst taking time off may be unthinkable for some business owners, sometimes this is essential for ensuring wellbeing. In fact, it’s not just taking time off that can be important but also seeking help, whether that be medical, financial help from accountants like our selves or even counselling. Ensuring overall wellbeing in the short-term will guarantee a better chance of a healthy business in the long-term.
Look After Yourself
It may seem obvious, but one of the most effective ways to look after your wellbeing as a sole trader is to look after yourself, personally. This is worth noting because so many business owners neglect themselves in their pursuit of success, and this can take a heavy toll.
When you are self-employed, you are your business, and therefore your business is only as healthy as you are. Whilst it’s possible to push yourself in the short-term, it’s impossible to maintain this pace and both you and your company will suffer.
Taking care of yourself includes the usual recommendations- eat healthily, get regular exercise, plenty of sleep and ensure you have a network of people around you who you can lean on for help- even if it’s just a quick chat.
It’s never been more difficult to be a sole-trader, but you can give yourself a fighting chance by ensuring you value your personal wellbeing, just as highly as you value your business.
