Dear Aunty B,
I have had a major awakening over Christmas when I had my first real break (two weeks) for two years. I am a burnt out wreck!
I have been working full-time on good money and running a small freelance business on the side. My long-term dream is to turn my freelance business into a full-time gig and so instead of having holidays I work hard on that.
The problem is I have done this for three years and I am still not making enough money to make me confident that I can quit my day job. Now I am finding that the stress is impacting my health and my relationship.
I want to know how I keep my financial security while building my new business.
DJ,
Perth
Dear DJ,
First of all you can’t. I know first hand your situation. I once ran a freelance business while working a stressful full-time job with a young family and nearly went nuts! And at that time I wasn’t even planning to turn my freelance business into a full-time business. It was just a little business on the side to help pay for life’s little extras – like a holiday house – but in fact a fair bit of that extra income went on cleaners and restaurant dinners because I was too exhausted to cook or clean! (You didn’t hear me complaining too loud about that though given I hate cooking and cleaning.)
Setting up a new business takes a huge amount of focus and energy. Doing it on top of a full-time job and keeping your relationships fresh and alive is possible – but only for a short amount of time.
Here is what you must do: You have spent too long trying to juggle all the balls in the air and you will end up very sick if you don’t stop and listen to your body. That is your first priority: to get well. Without good health you have neither a full-time job, financial security, a nascent start up or a relationship!
In fact from now on you will understand that being healthy, slim and fit is a competitive advantage because you can last the distance better.
Secondly, you must realise that something has to give. Decide what is more important: is it your new business? If so you need to make some drastic decisions. You may need to cut back severely on your expenses, do a great business plan (what exactly is the niche you will carve out in this competitive marketspace?) and then quit your full-time job. If not, then how can you make your full-time job more satisfying?
Or if you want to continue with both, then you may need to let your spouse go and find a more fulfilling relationship elsewhere with someone less distracted and driven than you. You might then find a spouse – and some entrepreneurs do – who is equally as driven and either runs their own business or comes in as a partner in yours.
Remember this: entrepreneurs can do many things. But we only have one body and 24 hours in a day. Part of the entrepreneur challenge is to come up with a smart strategy that makes the most of the hours with the least possible stress on the body.
Good luck!
Your Aunty B
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