Posted on

How to Care for Yourself While Running a Startup

how to care for yourself while running a startup

As business owners, it’s easy to put the needs of others above our own. There is always somebody essential that wants or needs something – whether employees, clients, or even the dozens of emails waiting in your inbox. However, just because you have a demanding schedule, you don’t have to neglect self-care.

If you don’t make time for activities away from work, your mental and physical health will suffer – and so will your business. The healthier you feel inside and out, the more effectively you will be able to handle work responsibilities. Here are six ways to care for yourself while running a startup.

1. Schedule Me Time

The only way to stay consistent with self-care is to purposefully incorporate it into your daily schedule. Make it a priority to schedule some me time every day, even if it’s just fifteen minutes before you start work. Use this time to do anything that will make you happy and relaxed, whether that be journaling, doing yoga, practicing meditation, or just enjoying a good book. Keep this up every day, and you’ll spend more of your waking hours in a state of calm, as opposed to stressed and anxious.

2. Get Regular Exercise

Exercise is known to be one of the best stress relievers – helping to ease tension, improve your sleep quality, and boost your mood. But you don’t need to spend hours on the treadmill or tons of money at the gym to reap the benefits of exercise. Doing small chunks of physical activity throughout the week is enough. During the work day, use your breaks to get moving outside, even it’s just to take the dog for a walk. Commit to a fun outdoor activity that you love on the weekends – this will give you the balance you need between work life and your personal time.

3. Plan Your Meals

The foods you consume impact your cognitive thinking. A busy schedule, however, can make maintaining a healthy diet a challenge – sometimes it’s easier to just grab fast-food or order takeout. To avoid making poor food choices, prioritize planning your meals ahead of time. Having healthy meals prepared for the week will save you time during your busy workday.

4. Take a Break from Technology

We are all guilty of spending too much time with technology. Startup business owners find it especially hard to get away from technology when you have constant emails, demands, requests, and messages coming in. This is why it’s so important to set boundaries around the times when you will respond.

When you’re taking a break, the best thing to do is put your phone and computer out of sight so that you aren’t tempted to look at work messages. This will make it less tempting to think about your business 24/7 and give you a much-needed break from technology screens.

how to care for yourself while running a startup

5. Spend Time in Nature

Nature has a calming effect on the mind. The beauty and serenity of the outdoor world create a sense of peace you obviously don’t get in a working environment. Just getting outside during the week will rejuvenate your mind and help to relieve stress and mental fatigue. For additional benefit, try going barefoot – this has been shown to build muscle strength and reduce feelings of anxiety.

6. Plan a Weekend Getaway

Running a startup can be physically and mentally exhausting. If you can manage, make plans for a weekend getaway. Taking a few days to away in a new place will do wonders for your mindset and overall health. If you feel hesitant to take time off – keep in mind that it will be better for your business in the long run.

So, there you have them; six ways to care for yourself while running a startup.  Do you practice any other methods for your own self-care?  If so, please share them in the comment section below.

Posted on

5 Innovative Franchises Under 100K

franchises under 100k

I work with women every day who are dying to get out of their 9 to 5 straight jacket. They frequently say they have always wanted to own a business, but the time was never right… until now. The time is often right because a woman’s asset base is now large enough to give a bit of cushion, but sometimes it’s due to a layoff or she feels the universe is giving her a nudge.

Unfortunately for a woman in this situation, the investment parameter is usually tight. The most she could come up with (either out of pocket or with me helping her get a little SBA express loan) is under $200,000. No startup business is so magical that when you open your doors the cash and profits just flow. Having 200K in available capital means the total cost to launch should be well under $150,000. And ideally under $100,000 because – surprise – there are bumps in the road and marketing costs to consider.

And at that investment level, (franchises under 100k) you are priced out of trendy brick and mortar stores where you envision yourself as the hostess having fun every day. Plus, that’s a delusion. No business is fun every day.

Simply put, at this price point your options are home-based businesses with no inventory or service businesses. You will be starting out in your home office offering some sort of service to entrepreneurs or homeowners. That is what is commonly referred to as ‘B to B’ or ‘B to C’ (business to business or business to consumer).

B to Bs generally require you to get out there and do business development – that’s code for networking your rear off and/or making cold calls or scheduling appointments. B to C means you are dealing with the public who can be picky. But those businesses can be advertising driven – i.e. you throw your money into marketing campaigns and, hopefully, your phone rings with potential customers.

So, with that in mind, here are a few franchises under 100k that I think are great and maybe even fun to operate:

#1 Just Between Friends

This one gets the award for lowest investment with a franchise fee of just $17,900 and a technology fee of $1,500. Just between friends is a ‘pop-up’ consignment business. You will put on large (and I do mean large – like you need to find a space with at least 10,000 Sq Ft to stage your events) consignment sales two or three times a year. You won’t make enough income to replace your salary – but you can bring in some serious spending money with what is essentially 2 months of work a year.  Learn more about this opportunity here.

franchises under 100k

#2 Spaulding Decon

Okay, admittedly this is not for everyone. As an owner of a Spaulding Decon franchise, you are offering meth lab, crime scene, and hoarding cleanup services. Some people think that’s sexy, ok? You’ll own a tremendously profitable business and as a bonus, you’ll hire EMT’s and firefighters to be your contract workers. Who wouldn’t want to work in with a bunch of physically fit guys and gals wanting to make extra money?

This type of company is a good fit for public speakers, networkers, and workers who have empathy. You will be in close contact with families on the worst days of their lives. But you will be providing a needed and valuable service to your community.

#3 Senior Placement Referral Businesses

Referral companies offer a free service to families who have an elder or disabled person who needs more assistance and are no longer capable of staying in their home. You’ll be providing value and getting paid nice commissions by the network of assisted living facilities that you refer.

Like a realtor, you’ll learn the client’s needs and budget, go into your database and generate a report with two or three local providers that are good matches. Then you’ll tour the facilities – and the client picks one. Once they have signed up the facility pays you a hefty fee.  This industry entails plenty of networking and calling on the referral sources. Who are, for the most part, happy to learn about what you can provide.

#4 Patrice and Associates (Recruiting with a Niche)

Patrice and Associates is the nation’s largest and oldest hospitality recruiting firm. Talk to any restaurant or hotel chain of size and chances are they already use their services.  As an owner, you can start at home and hire one recruiter to come with you to training sessions. These businesses can scale easily by hiring more recruiters and opening an office. You are recruiting management positions and calling on your local large restaurants, hotels, and casinos to land their placement business.

You will also interview and maintain resumes of folks wanting to move up the career ladder. This can be very profitable if you are willing to be on the phone for as much as eight hours per day. We’re talking headsets on and dialing for dollars.

#5 Challenge Island

This is one of the only franchises under 100k offering after-school enrichment programs that are on the cutting edge of S.T.E.A.M. (science, technology, engineering, art, and math). Challenge Island’s proprietary curriculum has earned countless accolades from schools, teachers, and parents.

You will hire teachers who are looking for extra pay to lead your classes. Many owners do not lead a class of their own. To provide additional revenue streams you can offer to hold birthday parties, summer camps, and girl scouts events through a national partnership the company has with the Girl Scouts of America. This is a fun business and you can achieve a great return in short order. The investment is low and the profit margins are high with little to no inventory or overhead.

Related Reading: It’s Never Too Late for a Startup

There are many other franchises under 100k to consider. Make sure to fully explore the alternatives with an expert, like me, to identify the right one that will incorporate your interests and transferable skills.

Posted on

It’s Never Too Late for a Startup!

Never too late for a startup

Let Your Entrepreneurial Spirit Flourish

One of the most exciting things about the world of entrepreneurship is that initiatives are not bound by a retirement age. Business owners are often stereotypically seen as young twenty-somethings straight out of college (or dropouts in some cases), however, the spirit of entrepreneurship should not be limited by this perception. It can be argued that late-life entrepreneurship might be better than starting early since individuals can learn from their work and life experiences to make much more innovative and critical decisions of problem-solving.

So whether you want to start your own brand management or compete with marketing companies, know that it is never too late for a startup and here’s why:

1. Aspirations Do Not Have an Expiration Date

Shun the traditional ageist view that only the young can have aspirations of their own. The bottom line is that hopes, dreams, and aspirations do not expire and you should not let societal expectations hold you back.

Entrepreneurship provides you with an opportunity to give back something of value to your next generations – be a role model for your children and grandchildren. Contribute as much as you can while you can! Moreover, startups at later age also allow you to act as a mentor for the young people you will involve in your initiative, a chance to train those who will respect you for your wisdom and experience.

2. There Are Examples of Midlife Success

You are never too old to seek a new venture and the following people are prime examples of this statement. From the exemplary founders of Starbucks and McDonalds who were both in their 50s to Harland Sanders who founded KFC when he was 62 and Charles Flint who started IBM when he was 61. There are countless examples of success stories; people who did not let their age hold them back and polished their ideas to successfully launch businesses.

startup

3. In Today’s Era, There Are Endless Opportunities

Technology has penetrated the traditional framework behind startups in such a way that it is now easier than ever to take an initiative with a solid business idea. In today’s business environment, there are a variety of ways to enter the realm of entrepreneurship as long as you are taking up a relevant challenge and giving solutions for the needs of your consumers.

There are a plethora of options available for your startup venture, aided by the increasing involvement of digital technologies. The virtual world is inextricably linked to the business world and has emphatically altered the way we used to view entrepreneurship by reducing the bounds of time and space as well as organizational agility.

Things can be done, plans can be made and implementations can be carried out, all from the comfort of your home now. This can be even more effective if you plan to initiate an online business. The opportunities are truly endless.

Related Reading: How to Care for Yourself While Running a Startup

You can take it easy and enjoy a more leisurely routine. But if you envision something different for yourself as you enter midlife and beyond, know that the only thing holding you back is your will. All that is required is for you to have a clear vision of what you want to do and combined with initiative, it can take you a long way toward your own successful startup business!