By Katie L. Reim

STILLWATER, Okla. – Running a business can be a stressful job, especially in today’s uncertain economy.

Glenn Muske, Oklahoma State University Cooperative Extension interim associate dean, assistant director, family and consumer sciences, said some of the common stressors can include concerns about making money, fears about making payroll, underperforming when it comes to meeting customers’ expectations and feeling increased pressure when many things, such as personal savings, a corporate career and time away from family, have been sacrificed.

“Today, those stressors are just magnified as owners are looking for new markets as existing markets have often shrunk or disappeared completely,” Muske said. “One response by owners when under stress is to put in longer and longer hours. However, often those hours are only business owners working in the business and not working on the business.”

Working on the business means looking forward and working toward a long range vision.

Muske said today those items mean looking at where the future of the business might be given these changing economic times.

Included in those efforts are identifying where the market might be and how the market might change.

“It also means analyzing the marketing tactics that have been used to find those that are most effective and efficient,” he said. “In addition one must look at future staffing needs and what skills might be needed today and down the road.”

A long range vision also means looking at one’s product/service mix and forecasting how this may need to be changed in light of the changing markets. Setting goals and developing a plan are good places to start.

Muske said these few tips represent a small portion of what the business owner can do to help reduce stress load.

Additional information can be found at your local Oklahoma Cooperative Extension Service office or at eXtension.org.