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15 Signs You Are Too Busy And Should Stop

15 Signs You Are Too Busy And Should Stop

We all get busy from time to time.

In fact, conventional wisdom says that busyness is necessary in order to thrive in today’s world. But sometimes things get out of control. There are times when we are so busy that it causes us to suffer in many aspects of our life. Sometimes, it happens so subtly that we don’t realize what’s happening until it’s to late: a broken marriage, strained relationships with the kids, health scares, anxiety attacks.

It doesn’t have to be this way: you can take control of your life again by recognizing the warning sign and taking action today to reverse the trend.

Do you recognize any of these warning signs in your life?

1. You hardly see your family.

Can’t remember the last time you had dinner with the family or got the see the kids? You are probably a victim of 12- to 14-hour workdays. This kind of schedule may be unavoidable over the short-term but can have devastating effects on family life over the long-term.

Action step: Schedule dinner with your family at least 3 times a week. Try to negotiate with your boss to make this possible.

2. You’ve lost your sense of purpose or meaning.

Are you loving your work or simply going through the motions in order to collect a paycheck? Are you starting to compromise on your values by taking shortcuts? You may have lost your sense of purpose due to chronic busyness.

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Action step: Take a moment to reflect on the reason why you chose your work. Is it providing for your family ore helping others? Reconnect yourself emotionally with this value.

3. You’re constantly trying to meet the expectations of others.

Checking your email more times than you care to admit? Constantly on the phone with the boss or with customers? Are you growing resentful of these people? This is a sure sign that your busyness is preventing you from creating margin in your life.

Action step: Schedule 10 to 15 minutes between calls with clients so you can have built in downtime to regain your balance. Become intentional about how often you check email. If you find yourself checking every few minutes, try reducing to once an hour or less.

4. You’re unable to be present.

Always thinking about the next thing on your checklist? Are you often staring at your mobile device screen when in the presence of others? Find your mind wandering often, even during sex? If so then your chronic busyness may be robbing you of your ability to be present with those you love.

Action step: Try mindfulness meditation. Mindfulness is simply the ability to become aware of the present moment. Check out the meditation website calm.com where you can complete a meditation session in just two minutes.

5. You’re exhausted.

Not just tired. You feel like you are completely burnt out. Deflated. You feel like it takes an inordinate amount of energy to do simple tasks. Small setbacks or irritations begin to trigger inordinate feelings of frustration and distress. You’re consistently waking up tired even when you get a full eight hours of sleep. You may be burning up large amounts of physical and emotional energy by always being “on.” This may also be due to excessive worry about everything on your plate.

Action step: Commit to stop all work-related activity by a certain time each night before going to bed. Instead of working all the way to bedtime, create a relaxing bedtime routine that include activities such as listening to relaxing music, meditating, and leisure reading.

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6. You feel like you are failing in multiple areas of your life.

Falling behind on your finances? Wavering on your commitment to exercise daily? Do you feel like a jack of all trades but a master of none? You’ve probably taken on too many projects.

Action step: Write a list all the things you have committed to over the next month. Which of these things are less meaningful to you or does not help you achieve important goals? Find a way to graciously relieve yourself of these commitments and avoid them in the future.

7. You don’t take vacations — ever.

You’ve maxed out your available vacation time. You dread the thought of taking any time off because you fear you will fall behind, waste precious time, or be bored out of your mind. Your busyness habit has trained you to place your sense of self-worth in doing rather than simply being.

Action step: Try sitting for five minutes in complete silence when you first wake up — commit to doing absolutely nothing.

8. You have a hard time focusing on one task for more than 10 minutes.

For the chronic busy person, multitasking may become the norm. You are constantly juggling anxiously between tasks that need to get done. You’re probably actively running at least 3-5 tabs on your browser this minute. In fact, I’m guessing you’ve toggled back and forth a few times prior to reaching this point in the article (no worries, I’m just glad you came back!).

Action step: Use an internet blocking tool to experience what it’s like to work distraction free for 10 to 20 minutes.

9. You are unhappy and you don’t know why.

Sometimes we fall into the trap of making ourselves busy to avoid some life difficulty. It often happens subconsciously so by the time we notice how we’re feeling, we don’t know what’s troubling us.

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Action step: Try to get to the underlying cause of your unhappiness. Ask yourself, what am I avoiding by being so busy?

10. You are paralyzed when it’s time to make decisions, big or small.

At its worst, even the act of going the grocery store to pick up a tube of toothpaste can be extremely anxiety producing. You may find the activity so paralyzing that you leave the store without purchasing anything. Sometimes we fall into the busy trap by the desire to keep all options open. In other words, we want it all. In reality, the options are limitless while we are limiting. This incongruence is the source of our paralysis in decision making.

Action step: Learn to be at peace with the fact that making a decision means giving up other options.

11. You don’t ask for help.

Ever heard the expression, “Want something done? Find a busy person!”? You may be the busy person that others perceive as competent and able to help them with their problems. This may be one reason why you struggle to ask for help when you need it.

Action step: Give yourself permission to ask for help when you need it. Give someone the gift of being able to help you.

12. You don’t remember what you had for breakfast (possibly because you routinely skip breakfast).

You may have heard that breakfast is most important meal of the day, but you ignore it because it takes up too much valuable time. When you find time to eat, chances are it’s fast food and you’re likely to eat it on the run.

Action step: Would you neglect to go to the gas station to fill up your empty car because you thought it was a waste of time? Think of your own body in a similar way. Take time to fuel up in the morning.

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13. Your workspace is messy (and you dread going there).

It doesn’t help that you can easily locate all your stuff. If your workspace is a mess and it’s causing you stress, you are likely overextending yourself.

Action step: Find one thing on your desk that you can throw out today. Do this everyday for the next seven days.

14. You double-book or miss appointments.

If this is happening consistently, it’s a sure sing that you need reduce your load. You’re probably saying yes to new commitments too quickly and too often.

Action step: Guard your yes; in other words, wait 12 to 24 hours before agreeing to commitments.

15. You’re lonely.

Find yourself lonely in a busy period of your life? You’re probably not making time to reach out to friends. You might also be turning down requests to get together.

Action step: Reach out to a close friend today, even one you have not connected with for a while.

If you’ve identified with five or more points on this list, stop. Take some time to slow down to regain your balance.

Featured photo credit: Jeshoots via pixabay.com

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Published on December 13, 2018

How to Start a Company from Scratch (A Step-By-Step Guide)

How to Start a Company from Scratch (A Step-By-Step Guide)

If you’ve ever thought about starting and running your own business, you’re not alone. Being your own boss, having flexibility with your schedule and keeping more of the financial rewards that come with business ownership are all good reasons to own your own company.

But as you might expect, it’s not all vacations and fat bank accounts. According to the SBA, 2/3 of businesses survive at least 2 years and approximately 50% survive 5 years.[1] So why is the failure rate so high? At least for the businesses that fail early on, lack of, or poor planning can be a major factor.

So how to start a company?

Starting a business from scratch doesn’t have to be hard or complicated, but it does take planning and work. Here are the first and most important 9 steps to take when your are starting a company from scratch.

1. Do an Honest Evaluation of Yourself

Do you work better in a structured or unstructured environment? Does a daily routine reduce your anxiety? What kinds of things are you good at? Does public speaking or making presentations make you nervous? Are you good at accounting and numbers? Can you handle the rejections you’re bound to get when selling or cold calling?

These are all important questions to ask yourself, in fact it’s a good idea to get other peoples opinion about their perception of you in each of these situations.

Whatever the answers you come up with for your evaluation, remember that’s all it is, an evaluation of where you are now. Think of it as a way to identify both your areas of strength and weaknesses.

You maybe good at public speaking which can help when raising money, but bad at accounting which just means that you’ll need to find some kind of help with that area of the business.

2. Evaluate Your Idea

If your business idea involves a new product or service (or even an enhancement to an existing product or service), it needs to be evaluated. This is technically called market research.

There are firms that specialize in doing market research for new products, but if you are on a tight budget, you can do this yourself.

First, if you can build a prototype for people to use, touch and look at that’s the best option. If a prototype is not possible or it’s a service business, then offer a highly descriptive presentation of the business plan complete with it’s unique benefits and how it’s different from the competition.

Then listen! Remember that this is not about others liking your product, this is not your baby that they are talking about. You want honest market research that gives you the best chance for a successful business. Take notes, when someone tells you that they didn’t like a feature or some aspect of your idea tell them ‘Thank you”.

After several rounds of market research with different groups of people, you should see patterns emerging about things that they both liked and didn’t like. Use this information to tweak your product or service and do another round of market research.

Keep in mind that you’ll never come up with a universally loved product, your job is to produce a product or service that appeals to the broadest range of your target market.

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3. Make a Business Plan

I know, I know this isn’t the “fun” part of starting your own business, but it is an very important step in creating a successful business!

Basically, you can think of a business plan as an outline or blueprint of your business. A good business plan should have the following elements:

  • Executive Summary – This should lay out the businesses product or service and the problem that it solves for the consumer.
  • Market Evaluation – This should talk about the market you are serving. Is it an expanding market, and how does your product better fulfill the consumers in that market.
  • Market Strategies – How are you going to penetrate the market and sell your product.
  • Operational Plan – How will the company run from day to day? Who are the key employees and what are their specific rolls. Do your key players have specific goals set for them in advance?

A final word on making a business plan: while lying is never acceptable especially when you are using the business plan to raise money, it is acceptable to “put your best foot forward”.

Playing up the positives while minimizing the negatives is almost expected in a business plan.

Besides, banks as well as professional investors will both do a more in-depth analysis before investing any money into your idea.

4. Decide on a Business Structure

You have many options here, and discussing them with your accountant or financial adviser is really the only way to know what’s right for you. But just to give you a quick rundown of the types of business entities and their pros and cons we will briefly go through them:

Sole Proprietorship

This is a common way for small businesses to get started.

The pros being:

Relatively low costs to set up (usually a business license and sales tax license).Owners normally do not have to set up a special bank account, they are allowed to use their personal one. Any income earned can be offset by other losses (check with your state!). You as the sole proprietor have complete control over all decision making. 

Finally, sole proprietorship’s are relative easy to dissolve.

The cons of using a sole proprietorship include:

You as the sole proprietor can be held personally responsible for the debts and liabilities of the company. Some benefits, such as health insurance premiums, are not directly deductible from business income.

If you need to raise money, you are not allowed to sell an equity stake in the company. In that same vein, hiring key people maybe more difficult because you cannot offer them an equity stake in the company.

Partnership

A partnership is formed when two or more people decide to start a business. Although there is no legal requirement for any documentation to form a partnership, it is my advice that you never enter into a partnership without having a partnership agreement. (Remember, spending $1500 now can save you $150,000 in legal fees later!).

The pros of a partnership include:

Being relatively easy and inexpensive to start. Hiring key employees can be easier as you are allowed to give equity ownership to as many partners as you want.

For tax purposes, partnerships are relative simple as any income is treated as “pass through” meaning that each partner pays tax on their individual portion of the partnerships income (As of this writing, always check with your tax adviser).

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As far as the cons go:

It can be difficult for some general partnerships to raise capitol. Because it is a partnership, the actions of one of the partners can obligate the entire organisation. All profits must be shared according to the partnership agreement regardless of the amount of work done by any single partner.

Some employee benefits may not be able to be deducted on income tax returns.

Limited Liability Company (LLC)

This is a very popular business entity for small to medium sized businesses. The reason for this is the cost of set up is not prohibitive and there is a separation between the owners and the company.

The pros of an LLC include:

Limited liability for the partners, unlike sole proprietorship’s and partnerships where the owners are held responsible for all of the companies debts and liabilities, an LLC provides some protection against certain debts and liabilities that are solely the companies.

Simple taxation, just like the sole proprietorship and partnerships, income is considered “pass through” and is only taxed once on an individual level.

There is no limit on the number of shareholders in an LLC. An LLC requires fewer fillings and administrative requirements than a corporation.

Corporation

A corporation is much more complex and expensive to set up. And a corporation is legally considered an independent entity that is separate from its owners.

The pros of a corporation include:

Complete separation between the owners and the company. Because the corporation is considered its own legal entity, owners can not be held personally responsible for any debts or liabilities of the company.

A corporation can raise capital much easier just by selling more shares in the company.

Cons of corporations include:

Much higher administrative costs than any other business entity. Corporations generally have a higher tax rate. Dividends are not tax deductible for corporations. Income paid in dividends is taxed twice, once by the corporation and again by the shareholder.

Again, this is just a short summary of the pros and cons, always check with your tax adviser about what will work best in your situation.

5. Address Finances

Again, not one of the “Sexier” parts of starting your business from scratch, but very important nonetheless.

So, you’ve done your business plan and an estimate of your start up funding should be included. It should include the amount of funding you’ll need to get you through your first full year of operations.

Now, how do you get that money?

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Self Funding

If possible, self funding is the easiest. You won’t have to go to banks and investors with hat in hand, or give up ownership or control of your company. But as we know, this is not a reality for most people. But don’t worry, there are still plenty of options available.

Friends and Family

They can be a good source of funding your business if they can see and understand your vision.

Remember that business plan? Pass them out to everyone you know. Then follow up, be prepared to tell them the total amount of money you expect to raise, the minimum investment you are looking for and what you will give in return for the investment.

For example, you give a friend your business plan and follow up with him/her a few days later. You can explain that you have secured funding for $80,000 of the $100,000 you need. You are selling a 2% share in the company for every $2,000 investment. How many shares would he like?

And when he/she tells you no, thank him/her and ask if he/she can think of anyone off the top of his head who might be interested? Tell him/her you really appreciate his/her time and if he/she does come across someone who might be interested to let you know.

Banks

These guys are happy to lend you money when you don’t need it, but all of the sudden they get stingy when you actually need a loan! This is where preparation comes in.

It’s a good idea to go over your business plan with an expert and maybe even have it rewritten by an expert before you approach either a bank or professional investor. Both will want to go over your business plan with a fine tooth comb, verifying all the numbers and data you provide.

You should also brush up on everything in the plan so that you can answer any questions they have with authority.

Crowdfunding

Finally, there is crowdfunding through sites like Kickstarter or GoFundMe. Crowdfunding helps to build interest, community spirit, and a customer base. It’s also an efficient way to raise funds. You can take a look at these tips to find out more:

6 Crowdfunding Tips To Get Your Project 100 Percent Funded

6. Register with the Government

As stated earlier, different types of business entities have different filling and administrative requirements. At the very least, you’ll probably need a business license as well as a state sales tax license.

Unless you are forming a corporation, there are many good resources on the web that will do everything for you at a minimal cost.

7. Assemble Your Team

Remember when we evaluated your strengths and weaknesses? Here is where we fill in the gaps!

Do you hate sales and cold calling? Great! There are people who love selling and wouldn’t want to do anything else.

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Bored to death with accounting? There are a ton of small accounting firms out there that will take care of that for you.

What about marketing? You can hire someone in-house or out-source that too.

Your job is to keep on top of all the different aspects of the business to make sure they are all running smoothly and getting the results you need. If not, it’s your job to figure out the problem and implement a solution.

Check out this guide and learn how to delegate effectively:

How to Delegate Work (the Definitive Guide for Successful Leaders)

8. Buy Insurance

No matter what kind of business you start, you need insurance! Yes, I know, no one likes to buy insurance, but it can literally be the difference between having a minor inconvenience and declaring bankruptcy.

We live in a very litigious time, even a minor slip and fall at your place of business could bankrupt you without insurance. If you need help finding a good agent, check with your local trade organizations or fellow business owners.

9. Start Branding Yourself

Has anyone ever ask you for a Kleenex or a QTip? We all know what they are because of branding, Kleenex is just a brand of tissue and QTip is just a brand of cotton swab. It doesn’t have to be as widely known as Kleenex or QTip, but you can make your brand a common name within your niche.

I once owned a manufacturing company that developed a product that was so popular that my competitors started co-opting my brand name for their products.

If you aren’t sure how to kickstart branding yourself, check out these ways:

5 Ways to Build your Personal Brand & Make More Money

The Bottom Line

Starting a business from scratch can be one of the most rewarding experiences a person can have.

But do you know what’s even more rewarding? Having a business that succeeds, is profitable and provides a good source of income for you, your employees and their family’s.

More Resources About Entrepreneurship

Featured photo credit: Tyler Franta via unsplash.com

Reference

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