Running a business can be overwhelming, but these practical tips will help business owners find the balance between their professional and personal lives, leading to a more fulfilling journey in business management.
CREDIT: This is an edited version of an article that originally appeared on Market Watch
Embracing integration
Balancing the demands of running a business with personal life is an art worth mastering. In the ongoing pursuit of business success, MDs and Owners often find themselves engulfed in a whirlwind of tasks, leaving little time for life’s simple pleasures. Yet, it’s essential to strike a balance between professional and personal commitments. Here are some practical tips for business leaders looking to harmonise their business and life seamlessly.
A dance between business and life
It’s a common belief that the perfect work-life balance requires an equal allocation of time and energy to both. However, in reality, life and business have a dynamic ebb and flow. This is where the concept of integration comes into play. Instead of rigidly segregating personal and professional time, consider blending them seamlessly. For instance, attending a child’s sports event in the evening might prompt an early morning client consultation. The key is to recognise that these aspects can enrich each other, resulting in a harmonious co-existence where neither is sacrificed at the other’s expense.
You are more than your business
One common pitfall that business owners often encounter is blurring the line between their identity and their business. To maintain a healthy work-life integration, it’s crucial to establish a clear separation between yourself and your business. Rather than using the term ‘work-life balance’ which implies an equal distribution of time, focus, and importance, which may not be realistic. Instead, you could focus on giving your undivided attention to each task at hand, whether it’s a business-related activity or personal time with family and friends. By immersing yourself fully in the present moment, you can effectively distinguish between the business you and the real-life you, ensuring that each gets the attention it deserves.
Breaking free from the hustle
In the world of small business, there’s a prevailing notion that hustling around the clock is the only path to success. However, Donna M. Marino, a psychologist and executive coach/trainer, challenges this belief. While it’s true that starting and running a business demands hard work, staying in a perpetual hustle mode can have adverse effects. Marino asserts that excessive time spent on work while neglecting other aspects of life can lead to reduced focus, concentration, and even a loss of passion for your entrepreneurial journey. To counter this, it’s crucial to shift your mindset and recognize that having a life outside of work can enhance your business. By embracing moments of rest, leisure, and personal growth, you can recharge and approach your business with renewed vigour.
The ‘no’ person: Your time guardian
Small business owners often find themselves inundated with opportunities and tasks, making it challenging to guard their time effectively. Marko Lazarevic, a business owner, shares a game-changing strategy. He has a ‘no’ person in his life, someone who serves as a professional bouncer, helping him say “no” when necessary. This trusted ally evaluates new projects, partnerships, and commitments against your core business goals, preventing you from straying off track. By acting as your time-saving sidekick, this ‘no’ person ensures that you don’t spread yourself too thin, ultimately safeguarding precious time for your personal life. In Lazarevic’s case, his ‘no’ person is none other than his wife, a reliable partner in business and life.
The ‘3-3-3 rule’ for balance
Maintaining rules about work and personal time can be highly effective. One such rule is the ‘3-3-3 rule,’ adopted by Eric Jones, CEO of a special-occasion fashion e-commerce business. This rule involves dedicating three hours to work, three hours to family and personal activities, and keeping three hours flexible. This balanced approach allows Jones to allocate focused time to each aspect of his life without feeling overwhelmed. It’s akin to keeping three different jars for work, life, and surprises, ensuring that he maintains equilibrium. By adhering to this rule, Jones has witnessed his business thrive while enjoying the personal aspects of life that bring joy and fulfilment.
Pursuing personal passions
Grace Thomas, founder and lead stylist of a personal wardrobe styling company, emphasizes the importance of incorporating hobbies into your lifestyle. These hobbies should take you away from screens and technology, offering a valuable opportunity to unplug from the demands of entrepreneurship. For Thomas, activities like nightly walks, regular workouts, and indulging in Korean television programs (‘k-dramas’) provide a welcome escape from the constant barrage of emails and notifications. While the work may always be there, taking time for oneself, free from interruptions, strategy to rejuvenate and maintain a healthy work-life balance.
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