If you’re a budding entrepreneur and you’ve taken the leap to start your own business, congratulations! Taking your business into your own hands is a huge step that should always be commended, but there are always things to keep in mind.
Owning a small business can often mean that there is a mixed boundary between work and personal life. You may find that one subconsciously seeps into the other, and before you know it, you’re lacking in either your work, or your everyday life. Here are some of the pros and cons behind being your own boss, and what you can do to ensure your success as a top-tier entrepreneur:
Pros of Owning Your Own Business:
The success of your business fully depends on you – and this can be seen as a huge positive when owning a small business. It’s incredibly liberating to know that your business’s’ future is in your own hands.
You can set your own hours – the freedom is entirely yours! If you’re more of a night owl or a bit of an early bird, you can set your own hours to ensure that you’re working as efficiently as possible.
You get to choose your team – your team are the people you will be working with day in, day out. It’s important that you feel professionally connected with your team. Ultimately, you will be able to make your life easier by controlling your own recruitment process.
Cons of Owning Your Own Business:
Work doesn’t always finish at 5pm – unfortunately, when you own your own business, you can’t always rely on working only 9-5. As the business owner, you will be responsible for a range of actions within your business, meaning you may need to work overtime and sacrifice some of your social life to keep your business running.
You may have to make tough decisions – there may be situations where you have to choose between your social, family and work life. As a business owner, there are sacrifices that need to be made to ensure the quality of your business – these decisions should always be taken carefully and with consideration.
How Can I Improve Work-Life Balance as a Business Owner?
COVID-19 taught us that a work-life balance is more important than ever – and more employees are understanding the importance of having a balanced lifestyle. So, how do you, as an employer, aid this?
Here are some tips:
- Offer flexible and remote working where you can
- Encourage frequent breaks
- Provide paid leave for events that need time and consideration, such as births and loses
- Offer leave for volunteering
- Put regular reviews in place for workloads
And, if you’re a small business owner, improve your own work-life balance by…
- Learning to say no: give yourself boundaries, and understand when you’d benefit from a break
- Use your lunch break: don’t just eat at your desk! Go for a walk and give yourself time away from the desk!
- Plan your time off: give yourself an incentive and reward for all your hard work
- Make sure you rest physically and mentally: both are just as important as the other.
- Schedule fresh air and exercise into your weekly routine, even if it is just a short walk – it can do wonders!
Overall, a work-life balance is essential to a fulfilling and satisfying life. Although, always remember to follow what is important to you, and look after your wellbeing wherever possible.
