Why is Work-Life Balance Important for Business Owners?

By Eric Dickmann

April 22, 2019

Better Work-Life Balance, Business Owner, Work-Life Balance

Business owners understandably believe that working hard is the best route to success. Hard work comes in the form of busy schedules, wearing many hats and making important decisions. But excessive workloads can lead to health problems and stress. Find the right balance between their business and personal lives should be the goal of any business owner.

Work-Life Balance is the idea that a person’s life outside of work is just as important as their work. An entrepreneur should seek to find an equilibrium between a demanding career and a vital personal life. Finding a good work-life balance can help your business run more smoothly.

4 in 5 Owners

A tired entrepreneur’s creativity wanes. He loses inspiration and is more likely to commit errors in making decisions. The insurance company, Xero, found that four in five owners agreed that a healthy work-life balance had a direct impact on profits. Balance can preserve one’s sanity when facing the stress of running a business. And having it as a foundational part of your organizational culture can yield big dividends with employees as well.

How Can I Maintain a Better Work-Life Balance as a Business Owner?

Perhaps, work-life balance should be considered a characteristic of an entrepreneur’s life. Here are 12 tips to maintaining a better work-life balance as a business owner:

Blend Aspects of Your Personal and Business Lives

Find harmony between work and life. For example, share your ups and downs with your kids for encouragement. It also helps them understand the issues you face during your day. At work, share your kid’s stories to provide a good laugh for co-workers. It’s a way of helping others understand you have priorities outside the office as well. Try not to think of splitting your attention between the two evenly, but giving your attention to each as it is needed.

Set Boundaries and Keep Them

Establish boundaries on time, space and access. Set work hours and adhere to them. Separate workspace and living space and leaving work tasks for the office, not the kitchen table. Decide when you are accessible for professional and personal inquiries. Even consider getting a separate mobile number for work so that you can disconnect from those distractions during personal times.

Pace Yourself

Don’t try to finish everything at once. Make sure you have a strategy and take the time to prioritize tasks. Make a plan to monitor your progress and don’t let tasks unrelated to your strategy derail your progress. You can’t accomplish everything at once, so focus is important. It takes time to grow a business but if you stay on track, you’ll get there. Just be mindful of fire drills and distractions that can sabotage your plans.

Set Your Own Norms

Don’t try to copy someone else; focus on the schedule,timing, and boundaries that work for you. Be “you” in every situation. You’ll haveless stress and more harmony in life.

Take Breaks

Make short breaks a part of your routine. The human body was not designed to sit and stare for 8 hours. One trick is to schedule 10- or 15-minute breaks in your calendar at specific times during the day. Get outside, listen to music, go grab a coffee. It’s important to have time to clear your head so you can think more clearly.

When You Leave The Office, Unplug

When you decide it’s time to take off, honor that commitment to yourself. It will allow others to respect it as well. Refrain from checking business email and entertaining work-related calls. It’s a well-proven fact that time away makes you MORE productive, not less. We all need to recharge. The goal should be to get away more often and for longer periods of time. Not figuring out ways to stay constantly engaged.

Keep Your Social Commitments

View your social commitments as work events. Give them the same level of importance, and you’ll find it’s much easier to keep them. Nothing will fall apart if you’re out of the office for an hour or two. If you feel that you must make the time up, do so after the commitment has been honored. Your child’s participation in a play only happens once, don’t regret not being there to see it.

Yes, Even You Deserve a Vacation

Freedom a the big reason why you started your business in the first place! Design your business so you can get away. Take vacations. It is a great way to reinvigorate yourself and rekindle the motivation to keep working toward your goals. Block out the time at the beginning of each year and scatter breaks throughout it. And importantly, don’t cancel vacations because of work. Plan ahead to make sure the business is prepared when you leave on a break. You’ll be glad you took the time away.

Delegate

While you may be the best at most things, you can’t do it all. Distinguish between the tasks that only you can perform and tasks that you can ask someone else to handle. Delegate it to your employees; remember that you hired them for a reason. And don’t be afraid to outsource work to professionals. It may be an expense but the value of outsourcing easily delegated tasks to professionals can save your business in the long run.

Remember to Ask for Help

When you’re overwhelmed with the business, don’t forget to reach out to your support system. Relationships at home can be the first ones to suffer when the going gets tough. But they’re actually the most important thing to maintain. Have a mentor, a business coach or other professional connections you can reach out to for advice. It can be lonely at the top but only if you allow it to be. There are many ways to connect with helpful resources that will understand your problems and offer sound advice.

Don’t Be Afraid to Say No

An entrepreneur faces a lot of people demanding time and attention for different reasons. Analyze the request and prioritize. Learn to say no if they don’t fit your schedule and aren’t aligned with your strategy. Your time is your most valuable asset and you have to learn to guard it against unwanted distractions.

Take Care of Yourself

Eat right and get enough sleep. And establish a routine in the gym or exercise. You’ll work better and more effectively if you’re healthy. Follow the advice of Hal Elrod’s Miracle Morning routine and start each day off strong.

Find Your Zone

The best way to achieve work-life balance is to figure out the best time you are most productive. Schedule your day around this and cut yourself off when you experience diminishing returns. Nobody said you have to start at 8:00 am or work 8, 10, or 12 hour days. Find the balance that’s right for you and your business. If you find you’re surfing on your computer, small-talking with co-workers or looking for problems and things to do, go home!

Conclusion

Entrepreneurs tend to be workaholics. But they must find a balance between their work and personal lives. Following these 12 tips will help you maintain a better work-life balance as a business owner. You started your own business to enjoy the freedoms of being your own boss while making a profit. But that’s more than just calling the shots at work. It also means freedom to enjoy your lives away from the office. Seek to get away more and strive to build a business that hums along even when you’re not around.

About the author

Eric Dickmann is the founder of The Five Echelon Group, host of the weekly podcast - The Virtual CMO, and a CMO On Demand for a variety of small and midsize companies. An executive leader with over 30 years of experience in marketing, product development, and digital transformation, he has worked with large, global companies and small startups to develop and execute marketing strategies and bring innovative products to the market.

You might also like

>