Running a business can be fantastically rewarding financially and emotionally, but how can you balance the pressures of entrepreneurship with a happy and healthy life?
A recent report by Haines Watts outlined the impact of running a business on both mental and physical health. Over a quarter (27%) of UK business owners admitting that they had been affected negatively. Although being a business owner was an integral part of their identity, more than a third (35%) lose motivation to run their business at least once a year.
Joanne Bunting, Managing Director of Business Garage, said “It’s finding that balance. Running a business needs stamina, so you need to remember to look after yourself. Keeping physically fit and eating well sounds obvious, but it’s all too easy for it to slip down the agenda. A lunchtime run or a trip to the gym once or twice a week isn’t going to harm your business and will make you feel a whole lot better.
“It’s also really important to take time away from the business and rather than wait for the perfect time, (which never happens), get holidays diarised well in advance so that everyone can work towards these dates and you have something to look forward to. It hasn’t always been the case for me, but now I make sure I take the same amount of holiday as my team.”
Here are our 5 top tips for a successful business owner work/life balance:
- Delegate! Accept that you cannot do everything and trust Staff to handle certain areas. Staff training and empowerment will of course have a positive effect on team morale too.
- Take a break. According to the report, 52% of business owners took less than 10 days holiday in 2015, just 48% took more than 10 days. In our constantly connected society of social media, it is difficult to switch off. But it is important to recharge your batteries and return to work refreshed.
- Partner up. Having a trusted network of Advisors and Partners can make all the difference and alleviate this pressure. Business Garage can support you at a strategic level and/or handle operational areas such as finance management, payroll, HR and customer services.
- Rekindle your passion. Remember why you love your business and the driving factors for it to find your enthusiasm again.
- Network with similar businesses to share ideas.
Business Garage can help you define a clear, effective business strategy, develop a business plan, improve your communication, and tighten your financial management and performance. Most importantly we can help you align your people behind that vision so everyone is pulling in the same direction.
Visit our Business Strategy page for more information or call us on 01235 433099.
Resources:
https://www.hwca.com/for-love-or-money-tool/Haines_Watts_Love_Money_Report_2.pdf
