If you’ve been a business owner for a while, you’ve probably struggled with work-life balance. Work-life balance as a business owner can be really tough because you’re often ‘burning the candle at both ends. Recently, there has been a rise in the ‘hustle’ movement, the idea of working 16 – 18 hour days, and compromising or sacrificing all the things that you enjoy, to reinvest in your business. The reality is, the best business owners have created their ideal work-life balance. They value themselves and their time.
If you’ve been struggling, try to implement these strategies to create a better work-life balance.
Strategy 1: Use your diary as a time management tool
Many business owners fall into the trap of allowing others to dictate or rule their time. An effective tool to manage your time is a diary, either digital or paper. Using a diary can help you to block out time for the many things you need to complete such as client meetings, team meetings, business development, as well as personal time.
A good strategy to use is the ‘boulder, rock and pebble’ strategy.
The boulders are your hobbies, pursuits and personal time for the things you enjoy. The rocks are the things that allow you to work on pushing your business forward. The pebbles are the things that allow you to achieve the rocks. These are things like business development, client meetings, prospecting and nurturing your team. These three things work together to allow you to create the business and in turn, the lifestyle that you want. Consider your diary as the ‘bible’ that dictates how you spend your time.
Strategy 2: Commit to your promises
If you block out time in your diary, commit to it. Make sure you don’t override date night or weekends with your children for business activities. Stick to the time that you’ve set for tasks and create systems that allow you to work efficiently. Don’t take four hours to do something that could be done well in one hour.
Strategy 3- Pay yourself what you’re worth
Pay yourself a fixed income each week. If you’re not paying yourself properly, you’re doing yourself a disservice. How can you continue to grow your business and push it forward if you’re not paying yourself what you’re really worth? Speak to your accountant and set yourself an appropriate wage that you review each quarter.
The only thing that’s going to get in the way of achieving balance, is whether or not you take action. If you implement these strategies, you’ll free up time to help you do more of what you love.
Are you a business owner looking for tips and strategies to grow your and your business’ worth? Join us at Your Lifestyle Business Community (https://www.facebook.com/groups/thewealthmentorcommunity/) for more tips, strategies, tools, financial information and many more! We’ll see you there.
If you would like to meet with Sam Panetta to discuss further please contact him via the details below.
Suite 114/117 Old Pittwater Rd Brookvale NSW 2100
M: 0422 525 313
P: 1300 763 894