What Every Business Owner Needs to Know About Work-Life Balance
As a business owner, you work long and hard to make it a success. But, like anything else, too much is not a good thing. Numerous studies have shown that overwork causes physical and mental health problems, decreases productivity, increases the likelihood of mistakes and accidents, lowers team morale and motivation, and damages personal relationships.
For employees, work-life balance is one of the top considerations when deciding whether to stay in a job or accept a job offer. You may be surprised to know that in employee surveys, it ranks even higher than salary. (This is especially true for the millennial generation of workers.)
Following are our tried-and-true tips for rediscovering the smell of roses.
Schedule in down time
Make sure that you and your staff are taking full lunch breaks, weekends and vacations. Don’t expect yourself or anyone else to be constantly checking in at the office during these times. Time off should be just that: completely switching off from work. Only then will you be able to come back with renewed energy, clarity and purpose.
Many top executives swear by power napping. A mere 10 or 15 minutes is enough to get them powered up for another tough work session. If napping isn’t your thing, close the door, put on some headphones and listen to music or dance. Or leave the building for a 10-minute walk in the fresh air.
Encourage team building activities
There’s no reason you can’t have a little fun with your colleagues, and ease the stresses of a busy day. Start a weekly happy hour group, or a bowling league. Set up a conversation or games area in the office. Have a company 4th of July picnic. There are many ways to promote sociability, and what they cost in time or money will be more than rewarded in higher productivity, employee retention and happiness.
Offer flexible schedules and telecommuting options
This is the era of cloud computing, and for many workers — maybe including you — being in the office full time is not really necessary. Routine tasks such as sending invoices, paying suppliers and answering emails can be done from any device with an internet connection. This gives you more time to be with family and take care of personal errands, without letting the work suffer.
Don’t do it all yourself
There are numerous apps to save you time and effort in your daily work and home life, from automating workflows to batching emails to scheduling pick-ups and deliveries. Let them do the grunt work, while you focus on the important stuff.
We have heard countless business owners say, “If I want it done right, I have to do it myself.” But unless you’re a second Leonardo da Vinci, that’s probably not true. You are not an expert at everything. It will be better for both your health and that of your business if you delegate the activities that are not your area of expertise.
For example, you may have started a catering business because you know and love cooking. You probably don’t know and love numbers crunching: bookkeeping, accounting, payroll, taxes, etc. If you try to do it yourself, your potential mistakes and missed opportunities to increase profits could well cost you more than hiring an accountant.
Xendoo uses cloud-based accounting software that relieves businesses of routine data entry, gives them 24/7 access to their financial reports, and keeps them tax-ready all year round. We leave you free to recover the balance between your work and your life.