Finding The Right Work/ Life Balance When Running Your Own Business

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October 5, 2016
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Once you set up a business, it becomes your life. When you are solely responsible for its success or failure, it’s likely to be something that’s on your mind 24/ 7. But it’s important not to become so consumed by it that other areas of your life begin to suffer. A good work/ life balance is essential for your health and is also beneficial for your business too. When you’re exhausted and overworked, you’re never going to be performing to your full potential. Here are some of the ways you can ensure you’re maintaining a healthy work/ life balance when running your own business.

Set Your Working Hours

Working for yourself requires tremendous dedication, and to make a success of your company often means working long hours. But doing so can cause you to ultimately burnout. Setting working hours and sticking to them where possible can actually lead to better productivity. This means things like not reading emails before bed at night, or working seven days every week. There’s a lot to do when you work for yourself, but allow yourself some time off to rest and recharge.

Employ Staff (or More Staff) To Help

Making the decision to hire another person can be tricky in your small business. But if you’ve reached the stage where you’re struggling with the workload, it’s time to get some extra help. While you have to pay an additional person’s wages, they could be a valuable asset to your company. You’ll get more done and with more hands on deck you’re likely to make more profit. Make sure there’s enough staff to suit the amount of work you have coming in. This means you’re not having to bear the burden of an enormous workload, and work every waking hour to make sure it’s all done.

Rent, Instead of Buy

If you run a business which requires having a lot of expensive equipment, it can be worth renting rather than buying. The cost of buying, maintaining and upgrading equipment can be a massive cost. Which can equal more debt, and more work. Businesses such as medical and dental practices particularly will require equipment (and constant upgrades) costing hundreds of thousands of dollars. Dental practice transitions can be one way to go in this case. Selling up and renting instead allows you to maintain a better work/ life balance, and can help to ease some of the financial burden. The same applies to businesses like printers or even catering businesses. Rather than spending a fortune on cooking equipment and appliances, for example, it can make more sense to hire it instead.

Utilize Computer Software

The right computer software will make light work of tasks that are otherwise painfully time-consuming or boring. This then frees up time for you, or your employees to spend elsewhere. Things like accounting software, collaboration software, and scheduling software should all be carefully selected for your business. These will massively reduce your overall workload.

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How do you maintain the right balance between work and life?

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