Are you stressed out? A consultant's advice to business owners and managers on coping with debilitating stress.

Did you receive an intimidating New Year's greeting from your lender informing you that your line of credit is not being renewed? Are you baffled by an inability to balance work and prioritize family needs, thus interfering with your ability to think straight and timely resolve company issues?

If you answered "yes" to either of those questions, you're not alone. A recent study by the American Institute of Stress reveals that workplace stress costs the nation more than $300 billion annually in health care and missed work, low productivity and discontentment in the workplace.

The ability to manage (compartmentalize) debilitating stress, not only in business but also in one's personal life, coupled with mental and physical stamina, enables entrepreneurial leaders to maintain effective skill sets to persevere in tough times and excel in an expanding economy.

Job stress often follows a typical path of denial, anger and sometimes depression.

* In the denial stage, the owner or manager refuses to believe that he or she is in trouble, resulting in the deferral of critical action steps.

* Anger follows denial. This response is characterized by exploding panic, blaming others, like employees, for not spending 60-plus hour workweeks with nonstop passion, regardless of family obligations. This can ultimately result in living on the razor's edge, hoping for better economic times. The business owner, who may have been rejected in applying for a bank loan extension or a new financing facility, for example, characteristically becomes cynical, exhibiting hostile tendencies and often looking for scapegoats when the ability to make payroll becomes a day-to-day scrambling process.

* Depression may ultimately set in, caused by the loss of esteem, and the entrepreneurial leader borders on paralysis, masked by overt fear and despair.

Debilitating job stress kills productivity and destroys company morale. A key step in successfully coping with different financial issues is recognizing the need for objective outside information rather than rigidly adhering to an inbred prescription for disaster. Only at the acceptance stage can the entrepreneurial leader discuss realistic options for working out severe problems in a rational manner. The nine stress-busting tips on the next page can be your guide.

RELATED ARTICLE: 9 stress-busting tips

1. Understand that you cannot always control the outcome of a business decision, but you can influence the decision-making process by becoming solutions-focused.

2. Think positively about your challenges and commitment. Successful leaders view different situations as challenges and make a commitment to resolve them. Rather than juggle all the problems simultaneously, prioritize and focus on only one or two key issues at a time to ensure greater success--and less stress.

3. Seek outside objective viewpoints and alternative decision-making input. Preferring to remain uninformed is generally related to fear and increased anxiety, frequently caused by lack of timely and accurate information. The entrepreneur has to recognize at what rate he/she is able to digest and assimilate the gathered information.

4. Set realistic expectations. Recognize that all recommended corrective action steps do not have to be implemented at once.

5. Avoid being a perfectionist. Strive to do the best you can under the circumstances. Focus on results, set clear deadlines and avoid micromanaging. Understand that employee uncertainty is a major cause of stress.

6. Determine how much risk you're willing to take. Thoroughly review options, including outside legal counsel, that you or your family may not be able to emotionally live with afterwards, such as granting a second or third mortgage on your residence to obtain a company loan.

7. Put your personal life in order. Adjust your lifestyle spending habits before your high life drags down your decision-making abilities.

8. Exercise but avoid fatigue, which causes inaction, contributing to feeling overwhelmed. Budget your energies to maintain mental toughness. Try new relaxation techniques such as yoga, aerobics, getting a massage or going to a spa.

9. Finally, set aside a day of rest to re-energize your family relationships, including your children. This can be a powerful management tool for defining clear business strategies and increasing your capacity for coping with stressful situations.

Lawrence Gardner is president of Troy-based Lawrence Gardner Associates, Managerial and Financial Consultants, a member of the Detroit Regional Chamber. The author gratefully acknowledges the professional input received from Dr. Barbara Schiff, nationally known family psychologist.

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The Small Business Assistance Center at the Detroit Regional Chamber offers one-on-one customized business consultation to help you start or manage your business more successfully. For more information or assistance, contact Brian DuBoff at [phone] or e-mail: [e-mail].

Terry Oprea, president and CEO of Southfield-based Mort Crim Communications Inc., is the new chairman of the Chamber's Small Business Advisory Council (see page 8 for more details). For more information on the Small Business Advisory Council and Small Business Central, visit www.detroitchamber.com.