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Work Life

Take the Stress Out Of Small Business

Being an entrepreneur and running a small business has its fair share of stress to deal with on a daily basis. As a business owner, you have to wear different hats that require your immediate attention throughout the day, and there are times when you have to come up with answers on the fly. From keeping your employees happy, managing your current customers, or paying your business taxes, the list of daily stressors goes on and on. But as an owner, all you can do is to bottle up your stress and move ahead.

To help prioritize this part of your day, here are the 3 best ways for small business owners to destress-

Recognize your stress and don’t try to tough it out

Once you figure out what is stressing you, you will be better prepared to deal with it. You should never try to tough it out and move on because stress has a direct impact on your mental and physical health. If you don’t take the necessary steps to destress yourself, then you could face serious implications.

  1. Make your schedule ‘yours’

If you have just started your business, then it may be easy to lose control of your schedule. You should understand that you are your own boss and if there is something about your schedule that is bothering you, then change it. If you think that the most productive time of the day gets filled up by clients, then it is better to block out time on your schedule that is off limits.

  1. Put some structure in place

Being the owner of a small commercial venture, you are wearing different caps and building the future of the organization. The future that you are planning is not always a predictable one. If possible, you should try to put some systems and order in place. Setting up a proper structure into the business will help eliminate clutter and unnecessary stress from your mind.

  1. Learn to Say ‘No’

As the owner of a small business, it may be tempting to say ‘yes’ than to say ‘no’ if you are trying to reach new heights. But if you have piled too much on your plate, you will get easily overwhelmed by everything you have to do. If you are unable to pay attention on the new projects, then surely your business will suffer in the long run making you stressed. Learn to say no to unnecessary things and your business and the stress will be better off.

  1. Get serene delegating tasks

Learning how to delegate is another way to destress and taking things off your plate. It is vital for your business to run smoothly, but it doesn’t mean you will do each & everything. The most common way to get stressed is by overwhelming yourself with projects and jobs. Dividing and distributing your tasks among your employees will enhance your energy levels and your mindset will be clear.

For the smooth running of your small business establishment, it is essential to manage your day and limiting things that can add stress to your life.

Varun Datta is a serial entrepreneur who loves to share everything he has learnt in his journey so far. He is the founder of multiple enterprises out of which 4New Ltd is the most innovative one.

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Work Life

The Surprising Lessons of Travel

I distinctly remember thinking – when I grow up, I’ll get a job that sends me to all kinds of interesting places around the world. A few years ago, I realized that I had created that job for myself. Not a day goes by that I’m not thankful for the invitations to speak in so many places around that world over the last few years.

The truth is, the novelty of travel has worn off – yet I still love to go. Here are the top 7 surprising lessons I’ve learned over the last few years of traveling for work in  over a dozen countries:

  1. Changing your environment DOES change your mindset – no matter what concerns or challenges you face at home, when you travel to a different place, you almost immediately get a new perspective. This is not just a shift in your general perspective but a specific change in the way you think about the challenge you face at home.
  2. There’s heart in every place – you’ll have these moments that you’ll never forget in every place – they’re not necessarily where or what you might expect – a place or interaction that put a smile on your face and warmed your heart; a tattoo pallor in Mardrid, a piazza in Rome, a cake shop in Warsaw, a waiter in Latvia, an elderly couple at the next table in Oregon.
  3. You’ll Miss Stuff – the kids concert scheduled long after your travel plans had been confirmed, the spontaneous decision for a few friends to spend a night at the beach – and you’ll miss people when you’re gone. It’s just a part of the commitment and the experience, but the less fun part.
  4. You may not meet anyone interesting at all – of course that depends on you. If you go to a conference, do your talk and then leave straight away. If you assume that everyone else is a learner and you’re the teacher – you won’t have anyone to speak to. If you’re too buy telling your story to listen to others telling you theirs.
  5. It’s up to you to get out & experience the amazing – sometimes your host will go out of their way to take you around, wine and dine you and give you the time of your life. Often they don’t, so you need to do it yourself. Get out and keep moving.  It’s sweet and wonderful to taste new foods, walk the city and get a feel for the place (even if you’ve been there before).
  6. You don’t need to wait for an invitation – for the first few years, I applied to speak at conferences, paid the expenses and didn’t get any fee. Yes, it’s costly so you have to choose wisely but that’s only at the beginning – consider an investment in your business, if you want to be a speaker.
  7. Planes are great places for inspiration – I’ve written some of my best programs, strategic plans and stories on long haul flights. You have to battle the urge to just sleep and watch movies the entire time, but if you can take an hour or two of your flight time and work – it can be really productive.

Bonus surprising lesson – Nothing comes without intention, planning and hard work. The is true of travel for work. It sounds exotic, fascinating, exciting – and it is. But it’s also exhausting, time consuming and simply hard work.

I still love it! I’ve learned to take some buffer time, to recover from travel. And I’ve learned not to complain about the challenging side of it, not to turn a blessing into a curse.

The bottom line – like anything in your business, if you want it, go out and create it. Be intentional, take tiny steps every day and keep focused on what you want. There is nothing you can’t make happen in your business if you’re prepared to figure out how to do it, get the help you need and then work like hell for it. You’ll be surprised what you can achieve. I never imagined that I would become an entrepreneur, yet here I am. And I’m thankful for every minute, every challenge and every opportunity.

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Work Life

Get It Right

It was after 10pm but I’d promised I’d make my boys soda bread. It was for a school event, everyone had to bring some food that is typical for their family – of course, Irish Soda bread was the answer!

I’ve been making Soda Bread for years, my mother and grandmother made it too. Aside from being delicious, it’s also special – a taste from a home my kids barely have memories of.

So there I was, an unreasonable time to be in the kitchen, chatting with my brother on the phone and mixing the ingredients as quickly as I could. I had placed the dough on the trays, the oven was ready, flour sprinkled on the top and as I traced the knife in the traditional cross on top of the bread I realized something was missing.

It was too sticky, too smooth, too moist. I quickly scanned the ingredients and realized that I had indeed forgotten one.

The thought flashed, it won’t really matter. It’ll taste fine. I’ll just throw them in the oven as is.

Now I know the dangers of perfectionism, in all parts of life. But this reminded me of the opposite danger, the belief that, as we’d say in Ireland “ah sure, it’ll do”.

Sometimes good enough really is good enough. But often it’s not.

As I scraped the sticky flour off the baking sheets, back into the bowl and added the missing ingredient, the mix was tough but I knew, 100% that I was doing the right thing.

This is true, most of the time, in business too.

To go the extra mile.

To do it right for your client.

To make sure you’ve done your very best.

To give value every time.

To go above and beyond expectations to delight others.

That’s what make your business thrive. It’s not about being perfect, it’s about standing for quality and really caring about results, not just for you but for your client too.

The bread came out great – I knew the kids would love and when my head finally hit the pillow I fell into a deep satisfied sleep.

What are you doing really well this week?

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Work Life

What Do You Choose?

It had been a few months since I noticed the downturn. I was sick to my stomach. It’s not like these dry spells were just a pain in the butt – they were critical to my survival.

You see it was also incredibly contagious. When I struggled to write, I struggled to speak, I became inarticulate and began to sound dull and disconnected. That’s how I noticed. I met a woman at an event  and she asked about what I do. I found myself complaining about how hard it all felt.

She quickly changed the subject and moved away. I felt horrible. And I realized that I’d gotten into a funk, a negative downward spiral that not only kept me disconnected from myself, it was disconnected from reality.

You see, in the hardest of times, I realized some universal truths that are surprising…and they have always kept me going…

  1. Whenever a door shuts, another one opens (cliche but true!)
  2. For all that you have not yet completed, you’ve done a lot more than you give yourself credit for
  3. It’s always darkest before the dawn – something good will happen next, that’s the way of the universe
  4. What you do well is special, not everyone can do it (and we forget this!)
  5. Comparison is a killer and totally irrelevant – someone else’s reality is NEVER what we assume
  6. You are infinitely capable and resourceful – you can get through this
  7. Your mindset is Your Choice – you can shift how you feel by what you think

So what do you choose? You can shift how you feel, what you do and how you cope with this block you are experiencing.

Whether it’s to go out for a walk, reach out to a friend or get help – you can decide to fix whatever is going on for you.

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Work Life

Money Management Tips for the Self-Employed

It’s an acquired skill to manage finances efficiently and thoughtfully, and it’s an especially important skill for a self-employed person. From bank fees due to unexpected overdrafts, to maxing out credit cards without even realizing it, there can be so much that goes wrong if you don’t address the financial situation before it tumbles out of control. Before you head down the road to self-employment (or even if you are already there), take a look at these money management tips that will help keep you out of financial, professional, and personal stress.

Save for Your Taxes. This tip is one of the most essential for any self-employed person. You know what’s worse than paying taxes? Not being prepared to actually foot the bill! You should follow the 20% rule, which is 20% of everything you earn should go straight into a savings account that is dedicated to your taxes. At the end of the year, you can use this money to pay the bill, and the leftovers can go to future savings or be used as a way to reward yourself for your hard work. Save now so you don’t get caught off guard in the future.

Budget, Budget, Budget. Being financially secure is all about planning your finances. One of the first things you need to do when thinking about your business is to sit down and plan out a budget. What will you need to spend – each year, each month, even each week? When and why does it need to be spent? What does it leave you with? What are the benefits, and do they outweigh to disadvantages? These are just some of the questions you have to ask yourself when planning a budget. Any good business has a solid financial budgeting plan that it can refer back to in order to prevent financial trouble.

Always Plan Ahead. Technically speaking, this is also known as the emergency fund. When you’re self-employed, there is never a guarantee that you will always have work or always be paid on time. When you plan ahead, you are planning for a few months of no work or very few assignments coming your way. This fund should have between three and six months’ worth of expenses saved up so that you don’t run low on basic needs and are able to pay your bills on time. The ebbs and flows of work are a natural and common occurrence for any self-employed person, so planning ahead is vital to staying afloat.

Pay Yourself. This is great for helping the finances in your business. Select a comfortable amount to live on each month and take that out of your earnings. The rest continues to help the businesses profit margins and you can leave any excess on really good months to compensate for any bad ones that might happen later in the year or have already occurred.

Think About Retirement. It may seem ages away, but we will all retire one day, and as a self-employed person, you have to be responsible for your own pension. While saving up money for current and near future needs, you should also put aside a little for your retirement fund. It might seem daunting and pointless now, but your future self will thank you right now for thinking of their needs!

To Conclude. Money management is about two things: planning ahead and self-discipline With these two aspects, you should be just fine with handling and saving your cash, which will help both you and your business to flourish. It’s not always an easy path to take and we get that it might be a struggle at times. Just remember all the good that comes from being your own boss, and you will find the strength to really save your cash and live comfortably.