POSTED 15 May 2017 - 14:18

Work-life balance for entrepreneurs?

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As one who is considering entrepreneurship, I've been wondering if it's possible to drive a business without sacrificing too much time with family, rest, etc. Any experiences or tips to share please? Thanks.
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Top Response

DARRENO

In my experience, there is no work-life balance. It may be skewed more towards work at the beginning & may seem to stabilize as business becomes more established. Being a SME owner, we have to be on our toes always. Family will adapt & if you seize the opportunity to expose family...

Responses

Kim Pong, CEO StrengthsAsia
18 Sep 2017 - 11:19

Hi. Being an entrepreneurs is one of the most exhilarating experiences.

For me, it has always been about the joy of the journey, the pleasure of the relationships, the thrill of making things work and finally to see them come together to produce the returns I have hoped for. And profitability is only just one those returns I have imagined. For entrepreneurs , there are far greater returns than just profitability. You have the autonomy to shape and set in motion what you see.

And it starts with why you wanted to be an entrepreneur. Your question on work life balance and family is telling. Family to you is key. In other words, you must plan for a rich and intimate family life as a non
negotiable outcome in your life as an entrepreneur.

Many did not and suffered heavily on the family front. I have never heard anyone telling me it was all worth the sacrifice to earn the millions for the price of the family. Everyone in that state always wished they could wind the clock back a little.

Work life balance is not about spending equal time with the different parts in your life. Work life balance is about spending meaningful and impactful time with the things that matter in your life - family, work, friends.

Entrepreneurs work very hard. You can't have it any other way. And unfortunately, many do postpone their family happiness for ensuring financial successes in their businesses. You don't have to do it this way. It is possible to work really hard and yet protect the joy and intimacy of your relationships.

3 simple things you can start doing:-

1) Have a simple routine with your spouse/family. No matter how busy I am, my wife and I go out for coffee every Sunday. It is almost like our date. Does not sound very romantic. But to both us, it is probably one of those small things that kept the romance between us.

2) Plan on sharing something. I am busy and sometimes do not get to see my kids as much as I like. Texting them and sharing some brief moments of my life always works. Or when I see them, sharing with them some of my successes and struggles always make for great conversations.

3) Have fun together. No matter how busy you are, have fun together. This is not about expensive vacations or gifts. It is about spending quality time. My family members are foodies. So looking out for great food and enjoying it together always create memorable times for all of us.

Hope it helps :)

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disrupteddisruptor
30 May 2017 - 16:42

@Darreno, thanks for your response! Yah, that was my guess too, that it would have to be work-skewed. Thanks for your perspective on little ones getting the chance to broaden horizons - that's something positive I hadn't thought of.

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DARRENO
30 May 2017 - 10:09

In my experience, there is no work-life balance. It may be skewed more towards work at the beginning & may seem to stabilize as business becomes more established. Being a SME owner, we have to be on our toes always. Family will adapt & if you seize the opportunity to expose family members especially the younger ones, it will broaden their horizons. Not a bad trade-off.

disrupteddisruptor
17 May 2017 - 15:17

@Small-Business-Specialist, thanks for sharing your thoughts! It's not my primary goal... so it's helpful to think along the lines you suggested, about what my goals are, and whether they might run into conflict with each other. Thanks again.

SMALL-BUSINESS-SPECIALIST
16 May 2017 - 20:23

Hustle or Work-Life Balance ... That topic has always been keenly debated. In my personal experience and opinion, it all boils down to the reasons why you are starting your entrepreneurship journey.

Are you starting out because you are tired of the pressures of keeping a job? Tired of the constant work pressures and wish you could have more control of your time and activities?

Or are you starting out because you have a brilliant idea/capability that you would like to monetize?

Or are you starting out because you have a brilliant idea that you would like to touch and impact as many people as you possibility can, and hopefully be able to improve their quality of life?

Different goals result in different approaches.

If you are goals are aligned along having a work-life balance, make sure you and your team understand and agree on these goals collectively. You need to be sure that everyone on-board understands that the journey isn't to make the most money, isn't to touch and impact the most people but rather to achieve financial freedom and a work-life balance for everyone. If that's the goal from the on-stead, I see no reasons why you cannot be a work-life balanced entrepreneur.

Wishing you all the very best in your entrepreneurship journey.

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