One of the main reasons cited for why people set up their own company is the ability to work the hours that suit them. However, a recent YouGov poll suggests that, for many, the reality is quite the opposite and their management of time and work sometimes leads them to make sacrifices outside of the office.
Commissioned by First Data Merchant Solutions, the survey showed that 44% of business owners admit to having missed a special occasion, such as a birthday celebration, anniversary or even funeral, due to work demands. One of the owners quizzed even missed his own child’s birth to work on his business.
There’s always two ways of looking at statistics, and a more positive slant to put on these findings could be to consider that more than half of business owners have not let their work life interrupt their personal life in this way. To be part of this more stress-free section, consider the following tips:
Do you need to do it yourself?
Business owners are notoriously hands-on and, while this is generally a good thing, it can lead to a reluctance to make the best use of other employees. This can be crippling, because they end up spending valuable time on basic but lengthy admin processes that somebody else could do just as well.
A good rule of thumb is to consider whether you, specifically, need to complete a certain task. Is it something that nobody else has the ability, responsibility or authority to handle? If not, taking some time to train them on the task can pay dividends.
Must it be an in-house task?
Accountancy, in particular, is a major drain on company owners’ time, but this can be eased with the help of outsourced accounting services for small business. The cost of outsourcing is minimal compared to the time and freedom it affords the business owner.
Can you set big days aside?
Nobody should start a business without accepting that there are going to be the odd days where not everything can be finished within normal working hours. Some company owners like to have one particular day on which they put in the extra hours, with the idea being that the rest of the week is a little less taxing.
The day you chose is up to you and might depend on your sector, of course, but few business owners relish a hectic Friday. Monday is a good opportunity to catch up on tasks that might have accumulated during the weekend, and it gets the grind out of the way early in the week.