Being Worried About Revenue Could be Making You Less Productive
Guest post by Michelle Stonem
Being concerned about revenue is normal, but there’s a line to be drawn and we’re here to explain where to draw it.
For managers and business owners, increasing sales and making sure that the business is gaining profit is part of the job. Constantly looking for new ways to innovate your products and services along with searching for how to improve operations is great — but if and when your efforts do not translate into numbers, it's understandable that you may get a little down. This serves as a motivator to do better, offer more, and just generally be ahead of competitors, but sometimes, even after giving it your best shot, the numbers just don’t add up.
In reality, too much of something is bad — and too much worrying about your monthly revenue and financial statements can put your business in danger. We know this sounds a little funny. After all, how can it be a bad idea to worry about profit?
The truth of the matter is that worrying too much can cause you to be counterproductive, and there are two reasons why, which mainly revolve around stress and anxiety.
Think of it this way: Worrying about money can raise your stress levels, which, in turn, leads to anxiety, which then impacts our decision-making capabilities and your productivity as well. In fact, the Anxiety and Depression Association of America reports that 56% of people who experience workplace anxiety feel excessive fatigue and lack of motivation. Both of these take a toll on how well we accomplish tasks and how long it takes to finish them. Moreover, it can lead to mistakes and misunderstandings in the workplace, which can cost more time and resources to fix.
This is not to mention that worrying about revenues can go well beyond feeling unmotivated at work. In an article about the link between financial and physical health, Marcus points out that money can stir up a lot of emotions that affect your overall wellness. These emotions can lead to unhealthy coping habits, such as overeating or drinking problems, which can result in potential health problems such as obesity or even liver issues.
Furthermore, worrying too much about your monthly revenue and weekly status reports increases the risk of long-term depression and anxiety, both of which are big enemies of productivity, as they result in either absenteeism or presenteeism. Absenteeism is when you take time off to avoid work, while presenteeism is where you stay at work but have little impact or effort — regardless, both can cost businesses greatly. As a matter of fact, in a report on mental health in the workplace, the World Health Organization reveals that depression and anxiety have cost the global economy $1 trillion in lost productivity.
But how can you get over worrying about your revenue? How can you move past it, especially if it’s part of the core reasons you do business? Recognize that it’s not all about the numbers.
Gone are the days where sales problems can be solved by boosting marketing budgets and adjusting prices — there are a lot more steps to consider, and you should focus on those instead. Today, it’s all about the customer experience, online presence, and the technologies you leverage.
More than just looking at other business processes, Nancy Gaines emphasizes the importance of having a healthy work-life balance, as workaholics almost always translate to unhappy individuals. Avoid getting burnt out — it’s hard to make sure your business is the best it can be if you’re tired and lack creativity. Take a break every now and then and gain back some clarity. Soon, you’ll find that as you balance both your work and life, your overall health will improve and your productivity will increase.
Author Bio: Michelle Stonem is a freelance writer who contributes her insightful blogs on several website.