When you first established your business you are so busy doing everything that needs to be done, you don’t always take the time to think about how you are going to “manage yourself” when it comes to the elusive quest for “life work balance”.
The days turn into weeks, months and then years. I established my business in 1994 and like life itself the past 22 years have gone past so fast and I think the next decade is going to move even faster, as the world gets busier!
There are lots of areas you need to manage as the business owner, however, here are three to start with:
Managing Your Time
Allocating time to review your skill set; what do you really love doing and what do you leave till the last minute because you dread it?
One of the hardest choices to make when you are first starting or growing your business is to put aside the little voice inside your head telling you “if you want it done right then I have to do it”. As much as you feel that no-one can do it as well or better, outsourcing tasks and/or projects on a regular or when needed basis will certainly be helpful.
Hiring an Intern, Junior or VA may assist you in all the daily tasks that you spend so much time on. My two biggest issues always seem to be the filing and standing in line at the post office when posting my book to clients. How much time do you spend doing daily tasks that someone else could do for you?
However, it doesn’t just have to be work related; finding an ironing service or even a house cleaner can free up time and guilt for you and to be honest if you were using that time to work on your business you would be earning more than the cost.
Financials
Business is a mind field of red tape along with chasing up invoice payments, paying superannuation, running payroll, remembering to send the invoices along with the monthly and quarterly taxation requirements, which are all very time consuming.
Hiring a book keeper and an Accountant are a definite in your mental well being and to ensure that all your financials are in order.
Over the years I have hired bookkeepers who came to our office and then when “cloud” was introduced having a bookkeeper who I never saw worked really well as it freed up my time and I was usually online late at night when she would email questions, which suited me. Recently we have moved the monthly bookkeeping to our Accountants to make it a one step process instead of two for efficiency and suited our changing business needs.
Take the time to explain your business cycle with your bookkeeper and accountant so that they are aware of the outgoings and incomings cycle as they may well be able to assist you with a smoother cash flow.
Managing Your Diary
It is so easy to spend each day driving around in never ending circles, answering emails, thinking about what you need to do, social media surfing and all the other thoughts and tasks you do that you wonder some days what you have actually achieved and did you earn any money?
To manage me I do:
- Write lists the night before and check them off during the next day as I have achieved them
- Plan a day on the road visiting clients, book them in advance, confirm the day before and use a route that does not having me crossing back and forward using up more time
- After the initial face to face meeting with a client suggest the next meeting to be via a teleconference (if possible)
Last but not least
Make the time in your diary for exercise and relaxation, being in your own business it’s very easy to put our health last because we want to be the “super star” business and family person. Without your physical and mental health there is no business.
