Running a small business can be very stressful if not all of the time then at least some of the time. We ran across an article from the Wall Street Journal that gives five of the most common sources of stress for business owners. Three of them are excessive workloads, concerns about making enough money, and fears (when employees are concerned) about making payroll. You can read the whole list here, and can probably think of a few that could be added to the list.
One of the most sobering points made by the article is that about one-third of small businesses fail withing two years and almost 60 percent are out of business within four years. So what can a small business do to beat the odds of failure? One thing the piece recommends is to not get too caught up in the daily grind and to step back to do some planning. This of course is a difficult thing to do. Remember the saying: Sometimes its hard to remember that the plan is to drain the swamp when you’re up to your knees in alligators (with knees sometimes replaced by a more colorful term). That is the challenge though and the article provides some other advice on how to accomplish this balance.