Wilson Public Relations Founder + Chief PR Officer Beth Wilson is a proud member of the Business Journals Leadership Trust, an invitation-only network of influential business leaders, executives and entrepreneurs in your community.
At some point, just about every entrepreneur will face immense pressure trying to keep their business afloat and drive it forward, which is always a major financial stressor. Sometimes these issues can weigh so heavily that they negatively impact how the business operates.
In order to deal with financial issues and the stress that comes with them, planning ahead is essential. Here, 11 members of Business Journals Leadership Trust give their best recommendations for how business leaders can effectively deal with financial stress.
What Beth had to say:
Keep a grip on the finances.
Risk is inherent to entrepreneurship, but your money fundamentals should stay as consistent as possible. Keep a grip on your finances. Measure what you need to have versus things you may want to have. When spending big, ask yourself what will ultimately be an investment for your business. Ensure you have trusted sounding boards to bounce financial ideas off of, like an accountant or executive coach.