How to avoid new business burnout
New business burnout is not easily avoided primarily because of the huge amount of effort, brain power and time it takes to develop, set up and market your brand.
It doesn’t really matter what industry, niche, clientele or mode of operation (virtual or physical) you decide, business setup is generally the same. A strong, simple and systemised foundation is THE difference between success and painful business burnout. There are several key elements you will need to work through to effectively set up a business that will have some guts and longevity.
Luckily we have a Startup Slingshot guide on our resources page- a download that literally holds your hand through the whole process.
Here are 3 key tips to avoid new business burnout
Stick to your budget
Have an idea of how much you want to spend on your start up and stick to it. In the beginning, you want to keep things CHEAP and you SHOULD compromise on expenses if it means you can get some cash coming in sooner. Things like software subscriptions, fancy office furniture and advertising can really suck your budget. Be wary of how much you need and where you invest your money.
Manage your time
Yeah yeah yeah, you’ve heard that before. But seriously, are you signing up to every webinar you can get your hands on? THAT IS NOT PAID TIME. sure, it feels good to ‘Research’ but are you really gaining enough knowledge to justify spending a day’s productivity on a couple of webinars?
Employing an outcome focused work ethic and avoid distractions during work time is a big sanity saver. Shift the big jobs off your plate early in the day to get some wins in early. Wind the day up with humdrum emails, slowing down and organising tasks for the next day. You will leave work feeling in successful and in control.
Don’t listen to the uninvested
You’re going to be inundated with unsolicited yet well-meaning advice. The uncle that ran a milkbar for 30 years, the guy from school who is CEO of a million dollar corporation or your best mate all count as the uninvested. These people want you to succeed, sure, but what they want MORE is to tell their own story of success, and bestow upon thee great wisdom.
These people have not invested money in your business. They do not fully understand your business. Listen to them but do not rely on their advice. When we began The Wandering CFO, Luke was repeatedly told to shave his beard. It’s literally now part of our brand and we bloody love it. If you have a strong vision and feel for where you ought to be, stick to it.