5 Tips for Keeping Your Sanity During a Slowdown
On Friday afternoon I wasted several hours with my anxiety over lack of future work paralyzing me. And at the end of that time, I was stressed and really didn’t have anything to show for it. So I decided to write this post so that I can go back and hopefully take my advice next time I start to stress. And hopefully, you can find some tips to help save you from the same hamster wheel I found myself on last week.
However, the most important way to get rid of the stress of a slowdown is to get more work. If you missed my post earlier this week, be sure to check out Why You Need to Cast a Wide Need When Freelancing During a Pandemic
Here are a few things that are working for me (at least most of the time, Friday afternoon not withstanding):
Credit your April earnings to your May income goal
Last week I was stressing because I only have $2900 of work lined up for all of May right now, which is a far cry from my monthly target goal of $12K to $14K (I aim for $10K as a minimum). Then I realized that the reason I worked my butt off in April was so I would have a cushion in case things slowed down. So in my mind, I took the amount over my goal that I earned in April, which was $6K, and added that to my May prediction. And suddenly, my anxiety lifted, and I felt better. I had been smart in April and prepared for this, so I needed to give myself the credit for my hard work.
Don’t be tempted to lower your rates (at least too much)
Yes, it’s tempting. Yes, I did it last week. But I regretted it. There is a difference in taking the lower end of your normal rates because you are slow, which is totally fine, and accepting unprofessional rates. While taking work no matter what the rate seems like it will make you feel better, it usually has the opposite effect and really just causes more stress.
And be sure to understand fully the amount of work involved in a project before setting a rate. I was so happy to get new work last week that I said yes without asking the number of interviews, which wound up making my hourly rate too low. Then I was super frustrated during the project and had less time to focus on marketing or personal projects that would honestly have been a better use of my time.
Look for passive income opportunities
I bet there is a personal project (or seven) on your to-do list that has never gotten done. Instead of sitting around worrying, you will likely feel much more positive if you feel you are using your time in a meaningful way. So many times I find myself spending hours worrying when, if I had at least taken a small part of that time to do something meaningful, I would have actually really felt better in the end.
Look for ways you can create something to help earn passive income. Have you been wanting to write an e-book? Or been considering offering coaching or training? Maybe starting a blog for your niche has been something in the back of your mind. By using the extra time you are likely to have in the next few weeks to create something that you can either sell or will help you attract new clients, you can increase your income in the long run.
Think about personal projects that will make you happy
Is there an essay you’ve been wanting to write? Or some poetry or a novel that you’ve been itching to write? I have an essay that I’ve been meaning to write for the past month about having a senior in high school right now and if I don’t do it soon, the moment will pass. Don’t forget about personal projects as well. Have you been wanting to pull out your paints or knitting? Are there still some closets left to clean that will make you feel accomplished? I ordered watercolor paints and have been happily creating not very good floral scenes and having a fabulous time.
Get some fresh air. Walking away from my computer and getting outside seems to make everything at least a little bit better. I’ve made a rule for myself that when I turn into a stress ball that I have to go take a dog for a walk (luckily I have four to choose from) at least to the corner. And while I’m walking I can’t think about work or the stupid virus. I find that when I return, I’ve gotten myself off the hamster wheel and can focus at least a little better.
What tips are working for you as you cope with the effects of COVID on your business?
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This is great advice, JGG! As for me, I sit outside on the back porch in the early evening, where I watch robins and cardinals in my backyard. I’ve been running 4 miles every other morning at 7am, and walking an hour on the non-running days. Lastly, I have a pile of 7 books NOT related to my work. This is fun reading . . .I read an hour each day outside on the porch. Like you, I love the outdoors (but don’t have any dogs to walk). Be well, JGG, and continue to be kind to yourself and generous with your ideas. You help me a lot, and it’s appreciated!
Thank you for writing this! We want to see your watercolor paintings. 🙂
Yes to everything you said, Jennifer. And for me, when COVID-19 hit, I immediately lost 1/3 of my income (a staple travel client which, of course, is on hold until people can travel again). I didn’t panic. Instead, I said to myself, I still make enough to pay all of my bills. I just don’t have that extra cushion I enjoy so much — for right now — but I will make sure it returns, either from a travel client or a new client in another industry. And then, I looked around my office, where there were several piles of work ideas, leads to follow up on, marketing industry info to go through, etc., etc. that I wasn’t able to get to over the past few years because I was so busy working on paying projects. And I said, well, now I can go through all of that, clean out, organize anew — and then my office will have fresh, new energy every time I walk into it! I know that will result in new, exciting business, too. And so that’s exactly what I’m doing, at a nice, slow pace. No rushing or putting myself under pressure here. And the first physical thing I did was to rework the placement of two pieces of furniture in my office (I had one stored away in the laundry room for years!), which instantly moved the energy in a new way. Oh yeah, and I got an ozonator (another thing I had wanted for a long time, but hadn’t gotten to it) — so the air in my office is extra oxygenated and fresh, great for taking big, deep breaths. I love being busy and making money doing it. But, I’m also really enjoying this slower pace of things right now. And I know that, no matter what happens, all is well.
Great tips. This is also an ideal time to learn something new, for personal or professional improvement. There seem to be free and discounted courses all over the place.