Don't get burned

Welcome to Career Insider. One of the biggest reasons why people fail at running a small business is burnout. And frankly, this affects all of us whether we run a business or not.

Trust me, burnout will kill your chances of success.

The most successful among us understand how critical it is to avoid burnout. In this email, let’s talk about exactly that.

Because it matters more than anything.

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SIDE HUSTLES
Your side hustle stack: Part 5

Entrepreneurs work their butts off. Most of them, anyway. It just comes with the territory. But, how do they avoid burnout?

We’re talking about the 5-step process to build your side hustle stack. Last week we covered the fourth part. Today, let’s dive into the fifth and final part of the 5-step process.

As a reminder, here’s what we’re doing:

• Identify your skills and interests

• How to scale your business gradually

• Use the power of automation and outsourcing

• Organization and how to manage your time effectively

• → How to avoid burnout by coupling persistence with patience

Today, let’s talk about how entrepreneurs avoid the dreaded burnout.

How Entrepreneurs Avoid Burnout

Being a business owner can be chaotic as hell.

In the beginning, YOU are everything. You’re the CEO. You’re HR. You are the marketer, hiring manager, social media person, accountant, and every other role in a typical organization.

In other words, you do it all. Because you have to.

Last week’s email touched on how to not go insane by managing your time and outsourcing as much as you can (when the time is right).

Today, let’s take that one step further and look at ways that successful entrepreneurs avoid burnout.

1. Set Clear Boundaries: Define work hours and stick to them. Avoid letting work spill over into personal time (this can be DAMN tough as a business owner, but you need to try).
   

2. Prioritize Tasks: Use tools like to-do lists or project management software to prioritize tasks and focus on what truly matters. And no, everything isn’t a priority. Don’t fall into that trap!
   

3. Delegate: Don’t try to do everything yourself. Delegate tasks to employees or outsource when possible.
   

4. Embrace the Pomodoro: Regular breaks can improve productivity and mental well-being. Consider techniques like the Pomodoro Technique, which involves working for a set period and then taking a short break.
   

5. Exercise Regularly: Physical activity can reduce stress and improve mood. Even short daily workouts can be beneficial. Don’t hesitate to schedule exercise into your day instead of taking a walk or hitting the gym only “when you have time.)
   

6. Maintain a Healthy Lifestyle: Eat a balanced diet, get enough sleep, and avoid excessive caffeine or alcohol.
   

7. Practice Mindfulness or Meditation: These practices can help reduce stress and improve focus. Here’s a great resource from the Mayo Clinic on how to embrace mindfulness.
   

8. Seek Support: Talk to friends, family, or a mentor about your challenges. Sometimes, just sharing your experiences can be relieving.
   

9. Set Realistic Goals: Avoid setting unattainable goals that can lead to frustration and stress. Here’s a helpful guide on setting goals.
   

10. Take Time Off: Schedule regular vacations or days off to recharge.
    

11. Reflect and Adjust: Regularly assess your workload and stress levels. Make adjustments as needed to maintain a healthy balance.

That’s it! I hope you enjoyed the 5-step process for bootstrapping your side hustle into a small business.

Remember, being a small business owner takes practice. It’s okay to make mistakes (we all make them). Just keep trying.

You got this.

CAREERS
The one thing you should do

Feeling stuck in your career? We’re going to dive into this in more detail next week, but let’s quickly chat about the one thing you can do right now if you feel stuck.

If you're feeling unsatisfied in your career, the first and most important step is to engage in self-reflection and assessment.

But what the heck does that actually…you know, mean?

This process helps you understand the root causes of your dissatisfaction and provides a foundation for making informed decisions about your career path.

Here's how you can approach this:

1. Identify specific sources of dissatisfaction:

   • Is it the work itself?

   • Your work environment or company culture?

   • Lack of growth opportunities?

   • Work-life balance issues?

   • Compensation concerns?

   • Misalignment with your values or goals?
     

2. Assess your values and priorities:

   • What matters most to you in a career?

   • Have your priorities changed since you started your current job?
     

3. Evaluate your skills and interests:

   • What are you good at?

   • What do you enjoy doing?

   • Are there aspects of your current job that you find fulfilling?
     

4. Consider your long-term career goals:

   • Where do you see yourself in 5-10 years?

   • Is your current path aligned with these goals?
     

5. Reflect on your achievements and challenges:

   • What have been your biggest successes?

   • What obstacles have you faced?
     

6. Keep a work journal:

   • Document your daily experiences, noting what energizes you and what drains you.
     

7. Seek feedback:

   • Ask trusted colleagues or mentors for their perspectives on your strengths and areas for improvement.
     

8. Take career assessments:

   • Consider taking personality or career aptitude tests to gain additional insights.

This self-reflection process helps you:

• Clarify what you want from your career

• Identify whether the issues are with your current job or your chosen career path

• Determine if you need to make small changes or consider a more significant career shift

After this initial step of self-reflection, you'll be better equipped to decide on next steps, which might include:

• Having a conversation with your current employer about your concerns

• Seeking new opportunities within your current field

• Exploring options for a career change or advancement

• Pursuing additional education or training

• Considering entrepreneurship or freelancing

Remember, career satisfaction is an ongoing process, and it's normal to reassess and make changes throughout your professional life.

Taking the time for thorough self-reflection is a crucial first step in addressing career dissatisfaction and moving towards a more fulfilling professional life.

NEWS
Job growth is kinda sorta still a mixed-bag

Tell me if you’ve heard this one before: The US job market is showing signs of slowing down, leaving economists debating whether it's a blip or a harbinger of tougher times ahead.

The latest jobs report revealed a mixed bag of data, fueling uncertainty as we head deeper into the final quarter of 2024.

While August saw a surprisingly robust 336,000 jobs added, exceeding expectations and suggesting continued economic resilience, this followed a significantly weaker July, where job creation fell far short of predictions.

Adding to the confusion, earlier estimates for job growth in the spring were revised downwards, painting a less rosy picture of the labor market's strength.

The unemployment rate, a key indicator of labor market health, has also been fluctuating.

After dipping to a historic low of 3.5% earlier this year, it has since inched upwards, reaching 4.3% in July before settling slightly lower at 3.8% in August. This volatility makes it difficult to get a clear read on the overall employment landscape.

Adding to the complexity, major players in the financial sector, like Goldman Sachs, are initiating layoffs, citing economic uncertainty and the need to streamline operations. This contrasts with sectors like leisure and hospitality, which continue to add jobs, highlighting the uneven nature of the current job market.

So, what does this all mean for job seekers and the economy as a whole?

The answer, unfortunately, remains unclear.

Some experts believe the recent slowdown is a natural consequence of the Fed's efforts to curb inflation through interest rate hikes, and that the job market will stabilize in the coming months.

Others worry that the mixed signals point to a looming recession, urging caution and preparation for potential economic turbulence.

One thing is certain: the coming months will be crucial in determining the trajectory of the US job market and the broader economy.

Job seekers should stay informed, adaptable, and proactive in their job search strategies, while businesses would be wise to proceed with a balance of cautious optimism and careful planning.

JOBS
Looking for remote work? Here you go!