We’re willing to bet that there’s not a single Business Owner that got into the game of entrepreneurship because they wanted to work 50, 60, 70+ hours every week. They also didn’t start running their business so they would miss out on spending time with friends and family. You got started running your business because you loved your industry, you knew you could help people, you knew you could be successful, you loved your family business, and more. Right? But what we see every single day when we are discussing the honest truth with Business Owners is the former: overworked, underpaid, stressed out Business Owners who are working too much every day to feed their families and keep the business afloat.
We’ve talked before about burnout, and its serious physical and mental health consequences. And Small Businesses are suffering too: according to the Bureau of Labor Statistics, 22% of businesses fail in the first year, half by year 5, and 66% fail by year 10. This is scary stuff, especially with the amount of financial and personal risk that Small Business Owners take just to open the doors. It’s not surprising that the stress level of Small Business Owners is at an all-time high. But it doesn’t have to be with a plan, great delegation, and a stellar team.
So what can we do? In short: take a well-deserved break.
IT’S BEEN A LONG YEAR
We all know that the COVID-19 crisis caused life-changing stress and change for just about everyone. One of the toughest things about this past year was the lack of time with friends and family. In order to keep ourselves safe, we spent a year and a half away from all of those relationships that fed our social connection need. In fact, a recent study reported in the journal Psychology Today said that social isolation produces an identical brain reaction to extreme hunger: craving. We had Zoom, outdoor gatherings with neighbors and friends, and a whole lot of social media, but it’s time to safely gather again.
This summer is one to take advantage of the nice weather, the friends and family, and nature. Taking a vacation, being away from the office, can be just the recharge that you might need after a truly long year.
BUT I CAN’T LEAVE IT BEHIND
If you feel that you can’t leave the office behind, you’re not alone. With our 24/7 world, it’s pretty tough to walk away. With a plan, it’s completely possible. Talk through the timing with your senior leadership team or a trusted employee. For a couple weeks before, make a note of every task that you as the owner perform in a day. Do this time study for a week. This often eye-opening time study can be a starting point to delegate all of the daily tasks to team members.
Designate a leader that can make basic decisions for the business while you’re away, set your out-of-office message on your email, and change your outgoing voicemail. Provide an alternate contact number for customers to call while you’re out of the office.
PLAN FOR THE FUTURE
One of the cornerstones of working with one of our coaches is designating the tasks that the Business Owner wants to do on a daily basis and leaving the rest to the team. Because if you as the Business Owner are not doing the thing that made your business a great one, then your business is not going to grow as fast as you want it to. If you’re a remodeler that loves sales and meeting customers, but are bogged down with social media posting, bookkeeping, marketing strategy, and hiring, then the sales are just not going to happen. Hiring enough vendors or employees to handle the day-to-day tasks that take you away from what you love will keep you happy, healthy, and financially successful!
Planning to take time away from the business is crucial to its success. After all, if you fizzle out and are not in a great headspace, then the business reflects your attitude as a leader. Ensuring that you are healthy leads to many years of a healthy business and team too.
Need help stepping away from working IN your business? Has it been years since the Business Owner took a vacation? Are you working too many hours? We can help. Schedule your free, no-obligation business analysis today.