It goes without saying that starting your own business requires a hefty investment — yes, there’s the financial element, but also the investment of resources like time, knowledge, and creative energy to get things off the ground. And all of that may lead you to put your own wellbeing aside — which can be just as crucial to prioritize. That said, “wellness” is a broad sweeping term. For some, it means practicing yoga or meditation to promote a sense of calm. For others, it’s about carving out family time in the interest of creating balance. And for small business owners in particular, it’s often about committing to building better financial wellness practices, both as individuals and as business owners.
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Of course, independent founders often know all too well that “balance” can be difficult to achieve. Which is why we’ve partnered with PayPal to put together a serviceable guide to achieving a better sense of personal and financial balance while helming your business. Ahead, certified financial therapist, Steven M. Hughes, and Suze Yalof Schwartz, founder of community meditation platform Unplug Meditation shrare their expert intel in the name of side-stepping burnout or excessive stress.
Know yourself (and your money habits)
Consider working with a financial therapist
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In short, a financial therapist can help you get to the bottom of your money-minded concerns, provide tips to fix those foundations from the ground up, and as a result help you navigate the financial and emotional challenges particular to running your business — and, well, your life.
Don’t skimp on self-care
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On the whole, self-care is far from a one-size-fits-all practice — so if reiki isn’t your style, your self-care may look more like, say, morning bike rides, nighttime ice cream sundaes, or long phone calls with friends. Whether it’s a small change implemented daily or a broader shift in mindset through more intentional practices, “wellness” need not look the same for everyone — so long as it manifests as a way for you to prioritize you.Last but not least, finding and using the best tools to facilitate your business will help you save time and money (and in some cases, even your sanity). “Some new and small business owners feel like there aren’t enough hours in the day to get everything done for themselves and their businesses,” Hughes notes. For that reason, he recommends implementing systems, software, and other digital resources to free up some time and promote efficiency. Think: Everything from project management software to integrated payment solutions like PayPal.In terms of the latter, Schwartz herself relies on PayPal to cover several payment streams integral to running and building her business. “Using PayPal has streamlined payments to our independent contractors, saving us the hassle of having to set them up in our payroll system, or mailing physical checks and paying unnecessary wire fees,” she explains. “It also makes for a convenient payment option on our website when people pay tuition for the Unplug Meditation Teacher Training program.” Overall, she’s found it to be a secure and reliable payment platform that has helped Unplug operate smoothly—while helping her maintain peace of mind on the operational front, even in the midst of the challenges she’s faced as a business owner in the era of COVID-19.