As an entrepreneur, it’s easy to get so caught up in work life that your personal/family life suffer. And believe it or not, having tunnel vision for your business could actually hurt your company in the long run. Today I’m going to share some tips for improving your work /life balance that I’ve learned along the way.
- Find Balance
It’s great to be ambitious, but balance is important. I understand the temptation to spend 100 hours each week working on your business—especially when you’re starting out—but you have to ask yourself if it’s worth it. For instance, examine the work you’ve done (or ask a trusted adviser to do so) in a 100-hour work week and look for missteps and errors. It’s easy to make mistakes when you’re working at a breakneck pace, and you don’t want an avoidable mistake to be the thing that makes your business suffer.
It’s important to find outlets to relieve stress as well as spend time with loved ones who often get neglected during such crazy times.. Try making an effort to exercise, which is an excellent way to relieve stress, and consider taking up a hobby that is relaxing and far removed from your field of business. And remember, when you’re in the office make a point to have fun while working hard.
- Invest in Good Help
When you’re running a business and managing the many expenses that come along with it, there is an obvious temptation to hire less-experienced employees and freelancers for the simple fact that they don’t cost as much. Try to avoid this temptation. Even though it may hurt at first when you’re signing off on paychecks, it is well worth the investment to hire workers who are highly qualified—these are the people who are going to help make your business as great as you want it to be.
- Network, Network, Network
Whatever you do, never underestimate the power of a good connection—many careers have been made from a chance encounter with an industry leader. Make a point to attend networking events and work the room, and don’t forget to beef up your social media presence.
- Delegate
I get it—your business is your baby. As hard as it is to do, releasing control of tasks not directly tied to generating revenue is a healthy and necessary part of growing a business. Something as simple as hiring a bookkeeper can free you up for more important tasks and meetings and, in the long run, bring in more money. Plus, delegating removes unnecessary stress, making you a healthier, happier person.
- Learn to Say No
Learning to say no can be one of the hardest lessons for entrepreneurs to learn. If you constantly find yourself saying yes to every potential lunch or dinner date or informational interview, you need to ask yourself how much these meetings are actually bettering your business. Remember: Your time is priceless, and you need to treat it that way. Your business and mental health will thank you later.
What advice do you have for bettering work and family life? Let us know on Twitter via @starternoise
Derek Rundell, is a successful business leader, operator, and serial entrepreneur. Derek has founded, managed and sold businesses in the technology, media and finance industries. He sits on several boards and serves as an advisor/investor to numerous established businesses and startups. Startups are Derek’s real passion, and in addition to building his own portfolio of technology, media and financial ventures, he invests in and mentors startups and entrepreneurs. He is passionate about sharing his knowledge and helping other businesses succeed.