Stabilising the board
It can take a lot to set sail on a new career path.
After about a year of being self-employed, my little boat is still floating, albeit modestly. But I’m acutely aware of others whose crafts are taking on water.
What do you do if what you’re doing will work in the long run but there’s nothing coming in right now?
It’s the sort of question that’s kept me awake at night. And I know other solopreneurs are experiencing the 3am scaries right now.
With the advent of AI, some are finding that previous clients are no longer booking them or are scaling back their hours (indeed, my own income has dropped by a third).
For others, projects are delayed, and previously dependable streams of income are drying up.
Tad Hargrave, of the wonderful Marketing for Hippies, describes periods like these as “The Meantime”;
“In business, I define The Meantime as that time when you are in a financial crisis where you need money urgently and, even though you have faith in things to work out in the long term, you aren’t there yet and you ask yourself, ‘What do I do in the meantime?’
But I call it The Meantime for another reason too.
It feels mean and vicious when you’re in the midst of it. There often seems to be no way to bring in the kind of money you need as quickly as you need it. It can be a time of incredible stress and anxiety.
The Meantime is like finding yourself in the midst of a deep winter without enough supplies to make it through and a sense of dread creeps over you, ‘What am I going to do?’”
Tad has a bunch of brilliant resources on this; I highly recommend checking them out.
If you’re in the UK, there are a number of agencies that can give free debt advice: https://www.gov.uk/debt-advice. By applying for advice, you may be eligible for a 60-day Breathing Space from creditors (under the Debt Respite Scheme).
But let’s face it; it can feel hard to engage with our finances at the best of times, let alone when we’re struggling. We often feel shame around money issues.
It’s completely understandable. In Western society, in particular, there’s an implicit message that to be poor is to be found wanting, to be contemptible, even.
Social media allows us to compare our insides to other people’s outsides like never before, and we feel like everyone is more successful (and, more loved) than us.
No wonder we hide what’s really going on.
Even as a member of a small community of entrepreneurs, it’s rare for someone to confess that things aren’t working out as they’d hoped.
But financial issues have a huge impact on our mental health.
MentalHealth.org.uk held a survey in November 2023, which revealed that in the previous month, almost one-third of adults (31%) felt anxious due to their financial situation, with more than one in four (27%) feeling stressed and almost one in ten (9%) feeling hopeless.
Their site is another source of good advice, with the survey also revealing that financial worries stopped one in four from sleeping well, almost one in five from seeing friends, and one in ten from exercising - all things that help to mitigate the effects of stress.
I’m reminded of a phrase I once heard one of my favourite authors and coaches, Michael Neill, share. He was coaching someone who was struggling with their business and feeling like a failure for thinking about getting a job to make ends meet. His response?
“There’s nothing wrong with stabilising the board so you can play the game better.”
Acknowledging our pain, being gentle with ourselves, and knowing that we’re not alone when we’re struggling, whether it’s at work or in our personal lives, is the first step to stabilising the board.
Once we’ve given ourselves that gentle breathing space, we’re in a better position to make whatever the next, most simple, first step may be:
Talking to a good, non-judgmental friend, booking a counselling session, or arranging a session-swap with a fellow coach or counsellor.
Finding the right environment - somewhere in nature, or co-working with someone who’s nervous system is calm enough for us to piggyback on - so we can tackle something we find scary.
Looking for a part-time job opening, so we have a regular income while our business is rediscovering its feet, or adding that we’re “open to work” on LinkedIn.
Whatever that next step might be for you, please know that you’re not alone, and be kind to yourself.
Support is out there, and you deserve to receive the care and concern you show to others.
Because the world needs what only you are uniquely able to bring.
. . .
Photo by Ylanite Koppens: https://www.pexels.com/photo/close-up-photo-of-monopoly-board-game-776654/
