What Keeps Business Owners Awake At Night? Part Two
In last week’s blog, we asked the question: “What keeps Business Owners awake at night?
Whilst acknowledging there can be many reasons why a business owner might feel stress and worry, we started to try and answer the question and this week in part 2 of the blog we look at some other reasons why a business owner might be kept awake at night, and what can be done to help.
Work/life balance
You work hard to provide the best life for your family, but that in turn can mean your family has to give up one of the most important things. You and your time. Finding a balance between work and life is difficult, especially when you work for yourself. You want to do what’s best for your clients, your employees, and of course your family.
And with this concern over work/life balance can also come a great deal of guilt. Discipline is required. It is important that you make time to spend with your family. Eat dinner together, discuss your daily routine, and make sure there is one day a week which is earmarked as family time, and family time only.
That means not taking calls, not checking emails. Your focus for that day is on your family, on leisure time, on resting and relaxing. We all know it’s important, but if we were honest, often find it difficult to put in place. Make it a discipline and see how everyone benefits.
Overwhelming workload
As business owners and entrepreneurs, we are usually trying to juggle lots of balls. And sometimes, it can feel overwhelming.
To help, make a list of the tasks that need to be done that day. Go through them and set realistic deadlines. Perhaps invest in time management software to help you plan and prioritise. And get into the habit of the night before, preparing your list for the next day.
Also, for many, marking completed tasks on a list is as rewarding as completing the task itself. This has been proven and can also help motivate us for the next task.
In addition, look at what tasks can be done by you, what tasks need your input, but can be done by the team, and what tasks may require specialist input such as accounting and bookkeeping.
Where possible, you MUST delegate. This can be one of the hardest things for many entrepreneurs to do. But also, one of the most important. So, think about how you can delegate.
Planning is key
Of course, there will always be something – a problem or a worry. But it can help to have a logical, realistic plan. Plans give you a clearer idea of what needs to be done, and by when. It also highlights what can be delegated.
And there are now many great tools available to help business owners with task and project management. Try investing in one of them and see how it helps.
As business owners, we may still have the occasional disrupted night’s sleep, but hopefully in the last couple of blogs, we have highlighted some things we can all do to help.
In the meantime, if you need business funding, contact us at Funding Track today to find out what we can do to help you and your business.
- Keith.park@fundingtrack.com
- 020 3857 3030
Image By Science Photo Library from Canva
