It’s no secret that Americans are stressed. A recent study shows 3 out of 4 Americans experienced a symptom of extreme stress in the past month. Throw entrepreneurship into the mix, and you’re primed for a breakdown, or burnout at the very least. The good news? It doesn’t have to be this way.
This is why self-care is important.
The term “self-care” is nowadays often associated with skincare routines and Netflix, but in reality, it’s much more than that: It’s valuing yourself and your health enough to graciously set boundaries and say no. That way, you bring the best version of yourself to your job and relationships day after day.
I’ve started several companies, sold two, and recently started a new gig as VP of Growth & Ops for Steadfast Media (hi, guys!) while running Honey & Vinegar, so it’s safe to say I’ve been one tired woman. There were times I was tired, frustrated, and honestly burnt out. At one point, I took a sabbatical for several months at the urging of several mentors, family members, and my career coach. Burnout is real, but I’ve learned ways to cultivate self-care in my professional life that allows me to have a somewhat balanced life.
(Side note: I understand there are situations out of one’s control that can contribute to burnout, including ailing family members, parenting, disabilities, etc. This article is not focused necessarily on these, rather preventing your professional life becoming your entire life. That way, you can focus on the truly important things.)
Here’s what I’ve learned about self-care thus far (mostly the hard way):
1. Set strict boundaries & turn off notifications.
The best advice I ever received was a one-off realization from my brother: gate it, don’t date it.
Meaning that if you have emails, Slack, or Trello on your phone, don’t make it available to where you check it at all times of day and night. Force a gate between you and the app. Put the app in another folder to where you don’t check it 24/7. Don’t let the notifications own you, or straight up disable them.
If you’re the boss, you get to set the standards. Check Slack and emails during certain times, and be as specific as possible when setting those times. If there’s a true emergency, have employees then call or text. Set those boundaries and stick to them. Encourage your employees to stick to them with one another, too.
2. Have friends and a life outside of your industry.
I can’t emphasize this enough, and this is also why I’ve only lived in cities that emphasize one industry. (DC and LA people, I don’t know how you do it! Props to you.)
This allows you to create a life beyond just your professional life.
When it seems like the sky is falling — i.e. you don’t get that round of funding, or that one client flips out, it’s important to have people around you who are a) grounded b) can give you perspective. Compatriots in your respective industry are helpful for support and sounding boards, but it’s easy to b
When an acquisition deal for a past company fell through, I felt like my world was over. I was devastated. My darling friends, one in healthcare and another in real estate, took me to Chuy’s happy hour and gave me perspective. Relationships like these are game-changers.
3. Schedule time for yourself.
Set time aside for yourself, but get real: What does this mean practically in your day to day, week to week life? For me, I purposefully make sure to keep one night a week, ideally two, to rest at home with my husband.
Also, plan that damn vacation! It doesn’t have to be a lavish European vacation, but set aside time where you are intentionally not checking your phone or emails.
When I took my first actual vacation (and not working remotely) in years, It was life-changing. Be intentional to take more than two days to think, journal, set aside goals not just professionally, but what you want you life to look like that following quarter. You, your company, and the people will be a lot better for it, I promise.
4. Cultivate healthy habits that are enjoyable.
Don’t let the hustle culture get to you. Hard work is important, but so is exercise, eating healthy, and maintaining mental health. In other words, some legit self-care.
Some good thoughts from VC Harry Stebbings.
Set routines of things you love to do that also maintain your well-being. I love going to the gym and putting my phone on Do Not Disturb for 30 minutes, but that’s not for everyone. Take your dog on a walk, put on a playlist to cook a good meal, go to that yoga class. Or just go on a walk with a friend. You do you, boo.
This could be you.
5. Train other people to do your job.
You may think you’re the only person that can do a number of things at your job. If you want your company to ever scale, you need, I repeat, need to take those tedious tasks off your list, and even some larger projects off your hands.
I know it’s so hard to relinquish control, but *gasp* there might be people that can do parts of your job better than you. So let them!
Does this mean you need to hire a virtual assistant, a COO, find another co-founder, or just hire that dang accountant? Do it.
Your business is only going to succeed if you’re performing as the best version of yourself, not a stressed-out shell of yourself. If you need to micromanage everything, your business won’t succeed or be sustainable long-term. Don’t let your stress about doing everything stunt your company or personal growth. If you needed a sign, this is it.
6. Practice self-awareness.
There is nothing more valuable than the gift of self-awareness.
Listen to your body and what it’s telling you. Does it need water? Does it need sleep? Start a habit of journaling and seeing what areas where you’re running on empty. More than that — do what your body tells you. Drink that water, my friend!
All in all, life is more than work and who we are is more important than what we do. Take time for self-care, and you’ll have a healthier mind and body.
Small businesses must go digital to survive (and thrive)
(BUSINESS ENTREPRENEUR) A study at Cisco reveals how digitizing small businesses is no longer optional, but critical to success, thanks to the pandemic.
As digital transformation efforts ramp up due to the COVID-19 pandemic, a new study released by Cisco has highlighted some key insights into how small businesses will need to adapt in order to survive in the “new normal.”
The study, conducted by International Data Corporation (IDC), analyzed more than 2,000 small businesses across eight different markets, including the United States, Canada, Germany, Mexico, United Kingdom, Brazil, Chile, and France. Using a four-section index to assess a small business’s digitalization efforts, the research found that 16% of companies said they were “thriving and feel their businesses are agile and resilient.” While 36% stated they were in “survival mode.” Regardless of where they were ranked in the index, the study concluded that 70% of firms were in the process of ramping up digital transformation within their company due to the coronavirus pandemic.
“The COVID-19 pandemic has exacerbated the digital divide that was already present in the small business market, and it is forcing companies to accelerate their digitalization,” said Daniel-Zoe Jimenez, AVP, head digital transformation & SMB research at IDC. “Small businesses are realizing that digitalization is no longer an option, but a matter of survival.”
The study also highlighted several challenges associated with digital transformation. The three biggest obstacles that businesses seem to face during the process were digital skills and talent, budgetary issues (lack of funds or previous commitment of funds), and cultural resistance to change. Despite these roadblocks, 45% of companies surveyed stated that they expect over 30% of their business to be digital by 2021. And 32% responded that they are planning on developing a digital strategy. This included investing in talent with the right set of digital skills moving forward.
Those decisions fall in line with Cisco and IDC’s recommendations. These include creating a three-year technology road map and building a workforce with the right skills to succeed in a digital world. Other suggestions include finding the right technology partner, and keeping up with industry trends. Leveraging financing and remanufactured equipment can aid with cash flow and budget requirements.
As small businesses continue to adapt to consumer behavior and the whirlwind of ever-changing rules that have come with the coronavirus, digital transformation will continue to play a major role in the post-COVID world. According to the report, if half of the small businesses surveyed can reach the second-highest tier of the index by 2024, those companies could end up adding an additional $2.3 trillion to the eight markets’ gross domestic product (GDP), contributing to the global economic recovery.
As we approach the six-month mark of the pandemic, just when and how the “new normal” will emerge is still uncertain. But there seems to be a light at the end of the tunnel for small businesses — even if it’s faint green and contains zeroes and ones.
Product Hunt is putting their money where their hunt is
(BUSINESS ENTREPRENEUR) Product Hunt is putting money where their hunt is by announcing a new Maker Grants service to boost small and independent creators.
Product Hunt – a technology centric site that aggregates new products daily – recently announced a new Maker Grant program that is designed to identify and help startups get their products started with a $5,000 grant.
Since its inception in 2013 by Ryan Hoover, Product Hunt has been a success vehicle for numerous products and companies by giving them access to a large audience of potential customers and investors. Available as an app across multiple formats, it allows groups to post their ideas and get feedback from a number of sources through comments and an integrated voting system. Everything from books, podcasts, hardware, and games can be found on Product Hunt, with dozens of new entries every day.
And now, Product Hunt’s new venture is to give 3 promising products their own substantial grant each month in an effort to give back to its community by placing money into the hands of its followers.
In a statement in its press release, Product Hunt announced that, “We know that building products can be expensive work, and passion doesn’t always pay the bills. As a way of saying thank you to the community, and to encourage makers to keep building, this year we’re offering cash gifts of $5,000 to three makers each month.”
Users will be able to nominate Makers that they feel deserve the investment by filling out a form. Product Hunt will take these suggestions and make decisions from there. In terms of how this will all be done, the official word is, “We’re reviewing makers who launched in the previous month who we believe are shining examples of innovation, grit, and engagement with the PH community. We’ll also be prioritizing those who are bootstrapping their businesses or working on their side projects without the help of venture funding.”
The big takeaway here is that Product Hunt is championing its support of its Makers through direct monetary help. By giving back into their own users, it strengthens and encourages them to put their best ideas forward and believe in their own innovation. Whereas more standard and traditional methods of grants may require several layers of arbitration, paperwork, and other hurdles, Product Hunt is providing a fast track to capital by leveraging its existing group of passionate users. Even knowing where to look can be intimidating and overwhelming.
At a time when banks may not be the best option for grants and loans, seeing a company choose to instead redirect its own money into the hands of its users is uplifting (and even more so given the turbulent market in a pandemic-choked world). Product Hunt maintains that it will do this each month, and will listen to feedback as it continues to build out the program.
Product Hunt’s userbase has reacted with incredible enthusiasm and praise, with repeated posts expressing a huge level of excitement and gratitude. While there are still some questions to be answered, Product Hunt’s flexible and community-driven approach is poised to potentially change the lives of many Makers. It will be exciting to see how this all plays out, and hopefully will encourage other companies to follow suit in creating positive outcomes through financial support.
Snowpocalypse disaster 2021: How can businesses help their employees?
(BUSINESS ENTREPRENEUR) How did your business manage your human resources during snowpocalypse? How can you protect your team and prepare for the next disaster?
The effects of Snowpocalypse 2021 will be felt for months. It’s not just fixing the power grid, paying off electric bills, or repairing pipes. Many employees lost wages because they couldn’t work. CNBC estimates that over 40% of Americans couldn’t last a month on their savings. Combined with the impact of COVID-19 across many industries, recovering from a 2-week loss of wages from the snowstorm disaster could devastate many Texans.
How does your business manage time off during disasters?
Larger businesses often continue to pay their employee’s salaries during disasters. Exempt employees have different rules over non-exempt employees, but we’ve seen many instances where larger organizations continued to pay employees, even though they couldn’t get into work. Employees with small to medium sized businesses often don’t have an option. These employees either take PTO or don’t get paid. While this might be legal and understandable from the business point of view, there might be other options. What can a business do when a disaster occurs when it comes to employee wages?
Know the law to pay employees right
I’m not even going to try to and sort through the multitude of laws that pertain to nonexempt or exempt employees. Every business should have a disaster policy that informs employees how their salary will be handled during the disaster, whether employees can stay home and work, choose to stay home out of safety or are forced to stay home and can’t work. Know the policies of the ADA, OSHA and FMLA to know what your rights and responsibilities are as an employer when disaster strikes. Make sure you’re paying employees according to state and federal laws.
Consider options to protect employees
We’re not suggesting that businesses put themselves in debt to pay workers during a crisis, but Texas has experienced so many disasters over the past few years, it does make sense to think about how to help employees during those times. Critical time off (CTO) is one option as a benefit to workers during crises. By lowering stress during critical times, your employees come back to work ready to deal with your business.
Building trust with your team by helping them through a crisis can help your business keep your best workers. Now’s the time to look at your disaster response and figure out how to take steps to prepare for the next time.
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