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Creating work-life balance as a business owner

Creating work-life balance as a business owner

What to do when you feel like you need a better balance between work and life when running a business.

Having a good work-life balance can make the pressures of running a business feel easier. Here are some ways you might be able to add balance to your lifestyle.

Budget your time

Consider tracking and spending your time in the same way you do your finances.

Which of your tasks costs you the most time? From what activities do you see the most return? When do you feel the most energised and upbeat, and when do you need some downtime?

These considerations can help you to make sure you’re allocating the right amount of time and effort to tasks, and scheduling them at the right time. Find out more ways to save time in your business.

Set your priorities

An effective way to prioritise your to-do list is to categorise your tasks by how urgent or important they are:

  1. First, do any tasks that are urgent and important
  2. Next, do any tasks that are important but not urgent
  3. Then, reschedule or delegate tasks that are urgent but not important
  4. Finally, for tasks that are not important and not urgent, reconsider if you need to do them at all

Set up a separate work area

If you work from home, keeping your work space separate from the rest of your living space will help you to create balance and mentally switch off at the end of the day.

Find a mentor or business community

Running a business has unique challenges that your friends and family may not understand. Talking things through with someone who knows what you’re going through can make all the difference. Consider supportive communities online or locally.

Be easy on yourself

Remember that work-life balance is difficult at the best of times, even without owning your own business.  Following a plan that focuses on balance will help you set and keep good habits. If things start to stray from this plan, take a moment to recalibrate and get yourself back on track.

Get help when you need it

You don’t need to do everything yourself and some tasks are better left to professionals. Finding advisers, including accountants or business bankers that you trust, can help absorb some of the stress and worry of running a business on your own.

Next up: Building your business community

This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. As this information has been prepared without considering your objectives, financial situation or needs, you should, before acting on the information, consider its appropriateness to your circumstances.