27 Mar How to Maintain Your Work-Life Balance
The concept of work-life balance has become increasingly popular in recent years, and according to medical research, the idea should be taken more seriously than a passing fad. For better or worse, becoming a successful business owner often requires juggling the business operations and your personal matters daily.
Benefits of Maintaining a Healthy Work-Life Balance
Maintaining a healthy work-life balance is essential to relieving stress. Scientific research continues to show that stress is more than just an anxious feeling. It can have numerous harmful effects on your health and lead to a weakened immune system.
Working long hours has shown to put people at a higher risk of stroke, heart disease, mental disorders, anxiety, and depression according to studies cited by Medical News Today. Some reports even indicate that business owners and executives who often work more than 50 hours per week were less healthy than average by almost all measures.
Clearly, more of us could benefit from a better balance between work and life. For business owners, however, it may seem impossible to separate the two. The most successful business owners are those who effectively manage that balance every day and are more productive, happy, and healthy because of it.
How to Become a Successful Business Owner Through Work-Life Balance
Owning a business doesn’t have to mean single-handedly running the show. Especially when the company incurs business expansion and managing all aspects of daily operations becomes unreasonable. That’s why the most successful business owners learn how to delegate early on and set manageable goals each day.
Assign Duties and Tweak Processes
If you have a staff, put them to good use. Make sure everyone in your organization not only has a job to do but knows how to effectively get it done. This may require some initial work on your end to draw up detailed assignments. Segmenting duties amongst your employees frees up valuable time of your own. Which allows you to focus on more strategic efforts. Meeting priorities will help you and your team feel a sense of accomplishment and control. This can help to diminish stress.
Delegate and Outsource
Outsourcing or hiring more staff to complete a portion of your business workload can also help you maximize your time. This may require supplementary working capital to help you manage cash flow as your onboard new team member and need to stay on top of payroll. Take a look at projects that could be outsourced to save time, including:
• Accounting and bookkeeping
• Marketing and social media
• Communicating with clients
• Administrative tasks
Outsourcing these and other jobs to a service provider can streamline the process, cut costs, and lead to higher-quality work. New technology platforms that increase productivity offer many options for outsourced accounting, marketing, expense management, and more.
Make Smarter Hires
Full-time hires are typically more expensive than most contractors. But they could end up saving your business more time and money in the long run. Consider using short-term financing to cover the initial costs of hiring and training. And soon enough, you’ll see the benefits of your investment in that new employee. This will leave more time for you to focus on attaining a higher level of achievement and enjoyment, both on and off the job.
Don’t Forget About Home
Many of these same concepts also apply to your life at home. In the simplest terms, time is money. Look at the time you spend on household chores and compare that to what you earn hourly. If the time you spend “costs” you more than what it would if you paid, for example, a professional house cleaner or landscaper to handle those tasks, look at your budget and see if you can outsource those efforts. Less time spent on these chores means more time spent with family and friends, relieving stress, and taking care of your mental health.
Maintaining a work-life balance is about separating your personal and professional lives so you can be your best self in both settings. Let QuickBridge help you on the business side, so you can focus on what matters most.