Running a business and being your own boss may be a dream for many, but it also comes with a whole host of challenges. Business owners would do anything for their company but at what cost? How can business owners balance success with a healthy and happy life?
Through opinion research with business owners, we discovered that more than a quarter (27%) of business owners admit that running their business is having a detrimental impact on their physical and mental health with 73 out of 100 business owners strongly agreeing that their business is emotionally exhausting. Below are some top tips to keep you on top of your game.
1 Re-motivate yourself
Surround yourself with a positive team, their confidence and enthusiasm will be infectious, allowing you to see the big picture and your challenges not seem so great. Never underestimate how powerful the attitudes of others can be on your own mood. Try to remind yourself why you started your business in the first place, what drove you in the beginning and is this still what drives you now? Take the time to review your business plan and make sure you’re still on the right track to achieve your goals.
2 Ask for help
Build good support systems both in your personal and professional life. Peer groups or mentors who face similar challenges to you can be invaluable in offering you people to lean on who understand your struggle and offer you new skills on how to work through it.
3 Break things down
It is very easy to feel overwhelmed with your work load. Start by taking a step back and figuring out what needs to be a priority, what could be delegated and what can be pushed back. Working through your tasks this way can help you to better plan your business’ future and set realistic timelines for you to achieve your goals.
4 Recruit the right team
As your business grows you can no longer do everything. It is vital to have the right team in place to get you out of the day-to-day allowing you to focus on longer term objectives for the business. Hire people that challenge you and know more than you do. That way you can shift into the leadership role of asking the right questions rather than providing all the answers. This will allow you to take a step back and re-address your work-life balance.
5 Take time away from the office
This one may feel obvious and impossible at the same time with 52% of business owners taking less than 10 days holiday a year and 8% taking no holiday at all. You may have an overwhelming feeling of guilt or fear that the business will fall apart without you but you must trust that you have put the right systems in place for business to continue. The time away from your business will allow you to come back with refreshed thinking and a new perspective.