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Avoid insanity
Take it from most small business owners: You’ll go insane if you don’t know how to stay grounded running a business. How is this done?
Steve Adcock
August 29, 2024
Welcome to Career Insider. Insanity. It’s a state that you probably don’t want to be in if you’re building your own side hustle that, if all goes right, becomes your new career. So, let’s talk about exactly that.
How not to drive yourself crazy by using tried-and-true techniques to keep you focused on what’s important rather than buried by what’s not.
Let’s go!
SIDE HUSTLES
Your side hustle stack: Part 4
Take it from most small business owners: You’ll go insane if you don’t know how to stay grounded running a business. How is this done?
We’re talking about the 5-step process to build your side hustle stack. Last week we covered the third part. Today, let’s dive into the fourth.
As a reminder, here’s what we’re doing:
→ Organization and how to manage your time effectively
How to avoid burnout by coupling persistence with patience
Today, let’s talk about how to avoid going insane as a CEO.
How Not To Go Insane
Being a small business owner is exhilarating...ly chaotic. You're the CEO, the marketing team, and the janitor (sometimes all in one day!).
Before you disappear under that mountain of sticky notes and receipts, take a deep breath. Organization isn't about becoming a robot; it's about freeing your mind to chase those big, juicy dreams.
Ready to swap stress for success?
Here’s how to manage your time as a small business owner the right way.
1. Embrace the Power Hour (No, Not the Happy Hour...Yet): Carve out one hour each week dedicated solely to organization. Tackle that inbox, wrangle receipts, and plan your upcoming schedule. This focused burst will work wonders, trust us.
2. Tech to the Rescue! (No, Seriously): Ditch the spreadsheets and embrace the magic of apps! Project management tools like Asana or Trello can be your new best friends, keeping tasks, deadlines, and even those wild ideas neatly organized.
3. Declutter Your Digital Life (Bye-Bye, 10,000 Emails!): Unsubscribe from those pesky newsletters you never read and create folders to tame the email beast (but since you’re reading this one, you don’t have to do that here!). A clean inbox equals a clear mind.
4. Delegate Like a Boss (Because You Are One!): Don't be afraid to hand off tasks that someone else can handle (or that automation can solve as we discussed last week).
For example, here are a few common tasks that are easy to delegate:
Email Management: Responding to non-critical emails, filtering spam, organizing inboxes.
Scheduling: Managing appointments, coordinating meetings, booking travel.
Expense Reports: Reviewing and approving employee expense reports.
Content Creation: Writing blog posts, creating marketing materials (with CEO approval).
Customer Service: Handling routine customer inquiries and support tickets.
Event Planning: Organizing logistics for conferences, webinars, etc.
Recruiting: Screening resumes, scheduling interviews (for non-executive roles).
Onboarding: Orienting new employees, handling paperwork.
Payroll and Benefits: Managing payroll processing, benefits administration.
Task Management: Assigning tasks, tracking progress on projects.
Virtual assistants, bookkeepers, or even that tech-savvy teenager next door can free up your time for the important stuff.
Remember, organization isn't about perfection; it's about progress. Start small, experiment, and find what works for you. Now go forth and conquer that chaos!
In next week’s email, we’ll move onto step 5: How to avoid burnout.
CAREERS
The one mistake costing you job offers
Let’s face it: Standing out in a sea of candidates is key. I hired staff for years, and too many are making this common mistake.
While there are many potential pitfalls, the biggest mistake that undermines even the most qualified candidates: neglecting to tailor their application to each specific job.
This seemingly small oversight can be the difference between landing an interview and your resume ending up in the digital abyss.
Why?
Because hiring managers are inundated with applications. They're looking for candidates who not only possess the required skills but also demonstrate a genuine interest in the position and company.
A generic resume, even if perfectly formatted and bursting with impressive experience, screams "mass application." It won’t impress anyone, and it signals you didn’t prepare for this job opportunity at all.
So, how do you avoid this career-killing mistake?
Tailor, tailor, tailor.
Here's how:
1. Deconstruct the Job Description: Treat each job description as a roadmap. Highlight keywords related to skills, experience, and qualifications. These are your targets.
2. Mirror the Language: Incorporate the keywords and phrases directly from the job description into your resume and cover letter. This demonstrates that you understand the role and possess the specific qualities they seek.
3. Highlight Relevant Experience: Don't just list your previous roles; showcase how your accomplishments align with the job requirements. Quantify your achievements whenever possible, using numbers to demonstrate your impact.
4. Research the Company: Go beyond the job description. Explore the company website, read recent news articles, and familiarize yourself with their culture and values. This knowledge will allow you to personalize your cover letter and demonstrate a genuine interest in the organization.
5. Craft a Unique Cover Letter: Never use a generic cover letter template. Each letter should be specifically tailored to the company and position. Highlight how your skills and experience align with their needs and express your enthusiasm for the opportunity.
Beyond Tailoring
Network Strategically: Connect with people in your field and target companies. Networking can open doors and provide valuable insights.
Prepare for Interviews: Practice your responses to common interview questions and be ready to discuss your qualifications in detail.
Follow Up: Send a thank-you note after each interview, reiterating your interest and highlighting key points from your conversation.
By taking the time to tailor your application, you transform from a faceless applicant into a compelling candidate. You demonstrate your value proposition and show the hiring manager that you're not just looking for any job – you're looking for their job.
This level of personalization can make all the difference in your job search, leading to more interviews and ultimately, landing your dream job.
NEWS
Job growth is slowing, but why?
The US job market, a beacon of strength in recent years, is showing signs of fatigue, raising concerns about a potential recession.
The latest data from the Bureau of Labor Statistics paints a mixed picture, with job growth significantly weaker than initially reported and unemployment ticking upwards.
July saw a meager 114,000 jobs added, falling far short of economists' predictions. This slowdown, coupled with a revised estimate showing 818,000 fewer jobs in March than previously thought, suggests the labor market isn't as robust as many believed. The unemployment rate also rose to 4.3%, the highest since October 2021, indicating a potential loosening in the tight labor market.
While some economists attribute the discrepancies to statistical adjustments and the volatile post-pandemic recovery, others see red flags. The Federal Reserve, tasked with keeping inflation in check and maximizing employment, faces a difficult decision.
The weaker job numbers could bolster the case for an interest rate cut, a move that could stimulate the economy but also potentially reignite inflation (talk about being between a rock and a hard place).
The upcoming August jobs report will be crucial in determining the overall health of the labor market and the direction of the economy. If job growth remains sluggish, it could signal a broader economic slowdown and increase the likelihood of a recession. For now, uncertainty reigns as businesses and workers alike await further economic indicators.
