How Planning Your Ideal Day Can Help You Avoid Overworking

If you’re a small business owner, you’re likely to be familiar with the word “grind.” Owning a small business is hard work. You don’t need me to tell me that. Especially if you’re striving to support yourself or a family through your work, you work hard to meet your needs. Today I want to suggest an exercise that can help you take a look at your work life without being caught in the hustle. By planning your ideal work day, you can avoid overworking. How? Let’s jump in and I’ll show you:

How Much Do You Want to Work?

Though it might feel frivolous, especially if you’re used to long hours or a tight schedule, go ahead and ask yourself this question. It’s important to keep a vision in mind. Especially so if you’re self-employed, because you’re the boss! So, would like to work 25 hours a week? 6 hours a day? Think about the other facets of your life – how could you find balance?

Now, compare this with how much you are currently working. There’s probably a difference. Start thinking about ways to close the gap.

Your Schedule Bone Is Connected to Your Pricing Bone

I love this saying from Ariane Trelaun, a fellow bookkeeper and self-described business witch. The point she puts across here is that how much you need to work is directly connected to how much you charge for that work. So, if you need to work 60 hours a week at the rate you’re charging now, imaging upping that rate by a couple bucks. Maybe you could ease back to 40 instead! Doing this math requires being aware of your expenses, and setting income goals based on them.

Try taking a look at your expenses, and how much you’d like to work. Ask yourself, “How much do I need to charge to work that amount?” Doing so can bring you more awareness of why you work as much as you do, and how you can start to limit that. For more thoughts on considering what you make as a business owner, check out this article.

Business, Not Busy-ness

It’s important to note that beyond income needs, there are many other reasons why we might find it difficult to put a cap on our work hours. Many people use work as a coping mechanism, or pride themselves on long hours. Being busy is not a badge of honor. In the long run, busying yourself with your business can lead to solopreneur burnout and a lack of fulfillment in your business. The more you choose to set up your business in a restorative way now, the more it will serve you down the road.

I hope this exercise helps you think through the way you’re structuring your work schedule, and encourages you to find ways out of overwork patterns! If you’d like some personalized help with any of this, please check out my services and schedule a discovery call.

☮

Angela

Image: Slava Keyzman

When to Take the Leap

When to Take The Leap: At Peace With Money

You’ve relegated your passion project to side hustle status for a long time, working on it in between your day job and other parts of your life. But you know that if you want to get your business growing, you need to invest more time. That’s when you start asking yourself, “When can I get this off the ground? When can I take the leap, quit my job, and do this full time?” This is a question that must be considered carefully. While I support jumping in, I think it’s best to make the decision based on practical financial criteria. Taken at the wrong time, that leap could jeopardize your business. So, let’s take a closer look at what criteria you and your business should meet before you’re ready to take it to a full-time level.

Savings

Before you leap into the realm of self-employment, it’s good to have some savings to cover your expenses before things get going. This requires calculating your living expenses for each month, and then deciding how many months worth you want to have saved up. Many sources recommend saving up between six months and a years’ worth of expenses, but it’s ultimately up to you. Whatever number you decide, make sure it correlates with how much time you think you’ll need to get your business to a point where it supports you. If you need some resources to help you determine your monthly expenses, I recommend my article “Three Steps to Financial Clarity.”

Proof Of Concept

It’s important to prove to yourself somehow that people actually want your product or service – that there is a demand and real profitability in your idea. Setting up some metrics specific to your business idea can help you divine whether this is the case or not. Depending on your industry, this test could look very different. It might be helpful to research what success and demand look like in your industry. Ensuring that your business will have customers is an important step in the path towards solopreneurship.

When to Take The Leap: At Peace With MoneyI know they say “Leap and the net will appear,” but in order to take care of yourself financially, I think it’s best to take the leap only when you’ve already constructed at least some of that net for yourself. I understand this is difficult territory. It can be hard to know when you might make more money if you’re able to work on your hustle full time, rather than playing it safe and keeping it on the side. My advice is to think carefully and critically and make sure you have the resources to take care of yourself!

If you enjoyed this article and want to talk more about the profitability of your business, and how you can make it work for you, don’t be afraid to reach out. You can check out my Services page and schedule a call.

I first published this post back in May, but I thought August would be a good time to roll it out again, with our theme being transitions. If you have other business transition-related thoughts or questions, just let me know in the comments. I’d love to address them this month!

☮

Angela

Image:  Chris Ouzounis

When To Take The Leap

When to Take The Leap: At Peace With Money

You’ve relegated your passion project to side hustle status for a long time, working on it in between your day job and other parts of your life. But you know that if you want to get your business growing, you need to invest more time. That’s when you start asking yourself, “When can I get this off the ground? When can I take the leap, quit my job, and do this full time?” This is a question that must be considered carefully. While I support jumping in, I think it’s best to make the decision based on practical financial criteria. Taken at the wrong time, that leap could jeopardize your business. So, let’s take a closer look at what criteria you and your business should meet before you’re ready to take it to a full-time level.

Savings

Before you leap into the realm of self-employment, it’s good to have some savings to cover your expenses before things get going. This requires calculating your living expenses for each month, and then deciding how many months worth you want to have saved up. Many sources recommend saving up between six months and a years’ worth of expenses, but it’s ultimately up to you. Whatever number you decide, make sure it correlates with how much time you think you’ll need to get your business to a point where it supports you. If you need some resources to help you determine your monthly expenses, I recommend my article “Three Steps to Financial Clarity.”

Proof Of Concept

It’s important to prove to yourself somehow that people actually want your product or service – that there is a demand and real profitability in your idea. Setting up some metrics specific to your business idea can help you divine whether this is the case or not. Depending on your industry, this test could look very different. It might be helpful to research what success and demand look like in your industry. Ensuring that your business will have customers is an important step in the path towards solopreneurship. 

When to Take The Leap: At Peace With MoneyI know they say “Leap and the net will appear,” but in order to take care of yourself financially, I think it’s best to take the leap only when you’ve already constructed at least some of that net for yourself. I understand this is difficult territory. It can be hard to know when you might make more money if you’re able to work on your hustle full time, rather than playing it safe and keeping it on the side. My advice is to think carefully and critically and make sure you have the resources to take care of yourself! 

If you enjoyed this article and want to talk more about the profitability of your business, and how you can make it work for you, don’t be afraid to reach out. You can check out my Services page and schedule a call.

Angela

Image:  Chris Ouzounis