As an entrepreneur one of the biggest problems that you are likely to face is striking a work-life balance. There will always be a million things scrambling for your attention and it is very likely that you might feel torn between choices from time to time.
Here are 5 important lessons that every entrepreneur who wants to succeed and strike a work-life balance can use…
1. Time is a Resource – Regard it as one, Value it and Use it well
I teach management and enterprise creation and whenever I ask students to list the resources required to start a business venture, the response I get is: Men, machinery, money and materials. No one ever says “time”.
The basic problem here is that we do not regard time as a resource. It is in fact an exhaustible resource which once lost cannot be retrieved; every other resource can be accessed with ease. You need to change your approach towards time.
So…start by regarding time as a resource, value it and use it well. For instance, don’t check your emails every now and then, if you sell online then you can keep checking at regular intervals. You might just end up wasting time doing so.
2. Don’t Stay Connected All the Time
We live in an age when staying connected is very cool and it is something that is expected of us all. I feel there is really no need to stay connected all the time. Its okay not to take calls when you are eating or playing with your kids.
You don’t have to check your phone when you hear the message tone…its okay not to stay connected all the time. You need time for yourself; you need time to connect with those who are immediately around you.
Don’t try to do everything yourself, delegate, it is one of the first principles of good management. A lady I know is a technical writer who also moonlights as a fashion designer. She works full time Monday to Friday and has to be at work from 9 am to 5 pm but she is passionate about designing.
She does not have all the time in the world to check her emails and her Facebook page, so she has hired an assistant to check her emails and manage her Facebook page. That way she is able to do more without stressing over whether she’s checked her emails today!
4. Hire People who are Resourceful
One of the biggest mistakes people make when they hire people is that they do not hire people who are better than them. They are always scared that someone else might outshine them.
This is a wrong approach. One should have an eye for talent, hire good, resourceful people as they will deliver results. That way once you assign a task they will do it well and you won’t have to spend time breathing down their necks or watching their backs.
5. Outsource Mundane Tasks
In times when you can outsource almost anything, hiring a virtual assistant to carry out mundane tasks is definitely worth the price. Evaluate the amount of time and stress that you will spend and endure to do that task and the price you will pay to get the job done by an assistant.
A few changes in the way you look at things is the route to striking a work-life balance!