Balancing Work and Family Life
Finding the Ying for Your Yang
Balancing Work and Family Life
Many people start a business with their families in mind. They believe self-employment will provide them with more flexibility, more income, and more free time. In the beginning however, and much longer if they’re not careful, this is not the case. And for those who run their businesses in addition to working a full-time job, they may find their lives more, not less, hectic. If you want your tax practice to improve your livelihood rather than tap it, you need to step up and better manage your business approach so that it accommodates your personal life. Here are five things to consider:1. Set boundariesNo business can run 24/7 without the help of a significant support staff. If you haven’t yet employed a business manager, you can’t expect to run long business hours without it taking a toll on your health, your family, and even your business. While you may think you’re doing your business a favor by working long hours, you’re actually setting yourself up for an acute case of burnout. In order to avoid that you must set reasonable boundaries that enable you to spend time doing those things you most enjoy.Just as any business has to establish business hours, so must you. Determine when you will dedicate time to your business and when you will dedicate time to your family. Of course there will be emergencies when you will be required to work long hours in order to fulfill obligations with clients, but that’s the exception, not the rule. It’s up to you to ensure that you honor these “office hours.” You may be surprised at how much more you accomplish once you set these boundaries. You may also be surprised at how much more you enjoy your down time.2. Practice two-way flexibilityIn order for entrepreneurs to experience success, they must be flexible. This means that you may spend a late night or early morning working for a client when you could be spending time with your family. But to be truly balanced you must be willing to exercise that same flexibility for your family’s sake; in fact, this is one of the benefits of self-employment. This two-way flexibility may require you to take a child to the doctor or visit with a teacher when you would otherwise be working. The trick is in knowing your priorities and being able to juggle both your business and family responsibilities well.3. De-stress and decompressOwning your own tax practice can be a stressful venture. In order to function at your best you must take measures to de-stress and decompress. This means taking time everyday to do something that makes you feel good, like jogging, meditating, or reading something non-work related. When you give yourself the opportunity to unwind and release tension, you can work at an optimum level, giving your business and your family the best that you can.4. When possible, involve your familyA good way to spend more quality time with your family is to involve them in your business when possible. A few months ago we ran an article on hiring your teenager; this can be a win-win situation for everyone. Your teenager learns responsibility, you get some help with the tedious tasks, and you both get to spend more time together. Perhaps your spouse could also spend some time on the business, making your tax practice a family affair.5. Enjoy the fruit of your laborsWhat good is it to have your own business and work hard to bring in more income if you don’t occasionally enjoy it? In order to truly refresh yourself and spend quality time with your family, you need to take a regular vacation and enjoy one another’s company. Whether you cruise the Caribbean or go camping, it’s important that you spend dedicated time away from work. In fact, a good time to plan for that vacation is right now. Schedule it as an end-of-tax-season celebration.It’s important to acknowledge the intricate balance between work and family. Focusing all your time and attention on the business may help it to grow, but sadly your family will grow as well, only you’ll miss it. Make a commitment to do what’s necessary to achieve balance in your personal and business lives. Most likely it will make your business more profitable in the long run.
