Rules for Achieving a Good Work-Life Balance
Ever wonder how some business owners seem to have all the time in the world for vacations and mid-week activities all while being at the head of a vibrant business? It’s likely that they follow the ground rules for making sure their business doesn’t depend on their constant presence.
1. Choose the right kind of business
Choosing a franchise business is a great first step. The support you’ll receive from the franchisor will make running the business much easier. But that’s only half the story. You want to look for a business that also has:
- A trained, professional staff with low turnover rates. Having dedicated staff members who will stay with you for years makes a huge difference in having operations run smoothly.
- Ongoing client relationships. You’ll always need to bring in new business, but having long-term clients, as opposed to single-transaction clients, has a big impact on cash flow visibility. With a solid sense of your cash flow in the near future, you can go on vacation with peace of mind.
2. Expect the beginning to be intense
The number-one misconception of new franchisees is thinking that once the doors open, the business runs itself. To shape a business that allows you a true work-life balance in the medium and long-term, be prepared to work hard to lay a foundation for that in the opening months.
3. Prepare the groundwork for delegating responsibility
Most entrepreneurs are go-getters with the energy to do everything. But you’ll be a better boss and achieve a more fulfilling work-life balance if you delegate. The key to successful delegation is deliberate preparation:
- Make your thought processes visible to your employees. Explain how and why you decide things, so that they’ll be able to effectively make decisions when you’re not there.
- Take the time to train your employees to do things the way you want them done. Taking time now will pay off later when they can work independently up to your standards.
If you follow these rules, you won’t have to answer the phone every time it rings, and you’ll be able to go to the school play, or even Tahiti, while the business operates and thrives.
What are your strategies for maintaining a good work-life balance? for Post your questions or comments below. If you have an idea for a topic you’d like to see discussed here, email us at email@example.com.