Life-Work Balance Secrets for Entrepreneurs

Starting, and operating your own business, a topic briefly discussed in earlier blogs can be a demanding and very exhausting endeavor. Moreover, a major stressor for many small business owners, which persists each day of business operations, is that of attaining life-work balance.

What is “life-work balance” or if you prefer “work-life balance? What should that mean to entrepreneurs? How is it attained and how does one begin to do so?

An experienced, wise, and successful entrepreneur once shared this secret with me, which now I am prepared to share with you. The secret to attaining life-work balance, I was told, is this: “when at the workplace, focus 100% of your efforts on your business; when with your family, loved ones, and friends, freely transfer 100% of your focus to them and only to them even if it is for a lesser part of the day”.

Is that it? Is that the secret? In essence, yes. However, the purpose of this blog post is to provide a more detailed approach to understanding life-work balance. Therefore, we will begin by addressing “core values”, the moral compass if you will, by which business and life decisions become easier to deal with.

"For many entrepreneurs, life-work balance surpasses in importance even the bank balance"

Successful entrepreneurs and small business owners understand that there is a correlation between their core life values and their business. They also understand that to find success they must take time and recharge themselves just as they recharge their devices. After all, their business’s well-being is inextricably linked to their well-being.

What owner operators value in their personal life is ingrained within their moral compass. Many entrepreneurs, however, understand the importance of committing those beliefs to writing, so that they act as a constant reminder in upholding their emotional and mental well-being. Many fail to do so and therefore fail to succeed in either their personal life or in their business or both. At best, they may succeed in one or the other but not both.

For many entrepreneurs, life-work balance surpasses in importance even the bank balance. You may recall reading in an earlier blog, that flexibility is the top core value for individuals selecting entrepreneurship as a career. Not the bank account, not fame or glory but rather the freedom to choose how they spend their time. Remaining mindful of the fact, that the main function of the business is to generate profit.

Successful operators know, that to be effective, they must be patient and well organized; they must get along well with others, and they must maintain a high energy level to keep up with the demands of both business and home life. Simply put, they must be in good physical and mental health.

Stress can be very taxing on the body and the mind. As such, having the right support systems in place is key. Of utmost importance is having your spouse (significant other) and family members on board with your enterprising campaign. They must be made aware of what you want to achieve and they must contribute 100% of unconditional support to the plan.

As young entrepreneurs in their early and mid-20s in the food service industry, I recall our predicaments while raising a young family. My wife and I had a sense that dividing our family and business responsibilities would do justice to both. Did we? No, not to the business, not to the family, and not to ourselves. Not until we figured things out.

Who would babysit when required? Who would take the children to hockey in the winter and baseball in the summer, or whatever the circumstance? Would there be two vacations or one, or none? Could we continue dining out at the same regularity?

And what of the business? As an entrepreneur, you will wear many different hats and will spend much of your time researching, planning, marketing, selling, handling clients, managing staff, administering finances, and much more.

With a flick of the “ON” switch, you’re on the treadmill, running hard but not getting ahead. So, you repeat the next day.

We were fortunate to surround ourselves with employees we could trust and family and friends we could lean on for help.

Successful operators learn to better manage their own time, understand their priorities, and plan their activities. They create a list of advisors and mentors in their business’s circle of trust and know who to call upon for help and who to go to for answers to their many business-related questions. They instill supports in place for the business to operate like clockwork when they are not there.

Then, you will have done it. Then, you will have truly become an entrepreneur.

Below is a list of tactics that may help to lessen stress, increase productivity, and generate more fulfillment and satisfaction in your personal life and business, and in turn more revenue and profit from your business. You got this!

1. Identify Your Lifestyle Values

From the outset, make lifestyle an essential factor while in business, and then grow with that principle in mind to lessen stress and increase happiness.

2. Reward Yourself!

In what ways can you reward yourself? A night at the movies or theatre perhaps? A spa retreat? A shopping spree? A seminar, conference, or course to enhance your knowledge. A three-day mini vacation away from the noise, the hustle and bustle, and the connectivity, etc. Whatever it may be, it’s important to reward yourself for your hard work.

We were able to get away as a family each long weekend in the summer. We treated ourselves to casual and fine dining with friends. We traveled with our young children to baseball and hockey tournaments throughout Ontario, and several eastern and southern states in the U.S.A. We attended important school functions such as meet the teacher night and the Christmas pageant. We also enjoyed the festive Holiday Seasons with family. Each of these rewarding occasions was very important in the long run, to an improved quality of life.

3. Delegate! Delegate! Delegate!

Start delegating everything that can be done by others and not you. It's important to figure this out early. Use the businessMD Action Plan Template (A.P.T.) to help you along.

4. Control Your Availability by Planning Your Life and Business Activities

Based on your business and personal values, business and personal goals, it may be as simple as organizing all your time into two categories: work time and personal time.

Then, plan your days, weeks, months, and year (don’t bother yourself with low-priority items). Working long hours each day, week in, week out, doesn’t necessarily translate to success. If you don’t schedule your life and business activities, it may lead to misery and burnout or worse.

5. Take On a Hobby

Let your hobby be something different than working long hours and making money. Learn something you always wanted to do. We started dance lessons in our 40s and now enjoy dance parties like never before. Maybe for you, it’s learning how to play an instrument, etc.

6. Stay Healthy

Eating and sleeping well along with regular exercise (Walking, running, swimming, cycling, yoga, etc.), are critical to thinking, creativity, maintaining a healthy body and mind, and performing at your best.

7. Socialize

Schedule fun time with your family and friends. We would take turns hosting many lovely dinners with our friends. Conversation by itself can be lively, interesting, and inspiring at the same time. Playing board games was also a good way to entertain.

TIPS:

Avoid Burnout

Working 40 hours a week has been proven to be ideal for keeping stress at a low level. According to Wikipedia’s “Working Time” report, in some of the most progressive entrepreneurial countries in the world, the work week is less than 40 hours and it’s illegal to work more than 48 hours a week.

Take Breaks

Take several ten-to-fifteen minutes breaks and do something unrelated to clear the mind of stress.

Learn to say “NO”

Avoid taking on responsibilities not related to you or your business.

Turn It Off!

Learn to separate work and life, by shutting off from everything including all devices, and take time for yourself. They will find you if it’s important.

No Multitasking

The act of multitasking can be stressful. Entrepreneurs must stay focused on the task at hand and keep productivity moving.

Put Yourself First

Take care of “You”. You are the piece that completes the puzzle and cannot be lost or fall to ruin.

If your goal is to become someone with entrepreneurial clout, extremely wealthy, and famous, then the above list and tips may not suit you. But if you are seeking a fulfilled personal life together with a career as an entrepreneur, you may want to take notice.

Integrating your personal life (your precious family and friends) with business is easier to achieve as part of a well-thought-out plan which will help keep you well balanced and generate value for your customers, for you, and your family.

About The Author

John Anagnostou is the owner of businessMD.

businessMD is an expert small business solutions firm offering well-crafted business plans, targeted marketing strategy plans, pitch decks, and other life-changing business tools and documents.

businessMD aspires to help new Canadian micropreneurs and independent small business operators find business success.

Find life-changing business tools including our Life-Work Balance Charter @ www.bizMD.ca