As a business owner, there's always something demanding your attention. Additionally, worry often feels like a constant companion, along with stress. When there aren't enough hours in the day to get the work you need to do done, a work-life balance feels like a distant dream.
However, achieving one isn't just a benefit for you. Here's why a work-life balance is essential for your business as well.
Why a work-life balance benefits your business
At first glance, the benefits of a work-life balance seem biased towards you. Take another look, though, and it's easy to see how these flow on to your company. In many senses, especially with small businesses, you are the organisation that you're running. If you're not in a good space, it's unlikely that your company is going to flourish, especially into the long run. For example, consider the following:
Constant stress and overworking yourself leads to a potential burn out down the line. As a business owner, having good mental health is vital for running your company in an effective manner and making good choices. Chronic stress, or depression, caused by a work overload leaves you on the back foot and unable to make clear, well thought-out decisions for your business.
Your brain needs a chance to recuperate, just like your body does after exercise. You can't expect it to perform at its best if you don't let it take a break. Balancing your work life with your home life gives you a chance to come back to your business feeling fresh and creative. On top of that, you might find that something in your personal life sparks a great concept for your company. Sometimes the best ideas arrive when you're not looking for them.
As with your mental health, your physical wellbeing is important for your ability to perform as a business owner. If you are in full health and are rested, you're ready to tackle any issues your company has to throw at you.
Long hours don't mean a high work turnover. In fact, paired with the tiredness and stress that a lot of time in the office often brings, you're productivity and quality are likely to go down. With a work-life balance, it's more probable that the hours you spend managing your business will be profitable.
While you are at the core of your company as a business owner, employees are the flesh and bone. A great organisation is often represented by staff who enjoy their work, and this shows through in customer service and how employees promote their company to others. Businesses which focus on results over wellbeing are unlikely to inspire loyalty in staff, and a high turnover is often the result. However, if the business owner leads the way by showing that a work-life balance is vital, it shows employees that the company cares.
Practical tips for creating a work-life balance as a business owner
- Instigate technology down time in your personal life to detach from work.
- Bring in the right support, so you're not doing it alone. For example, the right accounting firm can assist with business development strategies as well as handling your financials.
- Figure out what work schedule suits you. Everyone has a different routine that benefits them.
- Learn to delegate. Understand when your time is best spent elsewhere, or a project is better suited to someone else within your organisation.
At WMC Accounting, we understand the challenges business owners face. Our aim is to create a working partnership with you and your company, so that together we achieve the goals you've set. If you'd like help with getting your business to thrive, reach out to our friendly team today.