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How to Manage a Small Business and a Family

How to Manage a Small Business and a Family

As small business owners, we’re often so bogged down in running our businesses that we tend to lose sight of, or neglect, what matters the most: our loved ones. While we are doing everything we can to grow our businesses and ultimately provide for our family, we sometimes put off the most important moments in our lives, compromising our health and happiness.

You don’t want to look back years from now and regret not going to your son’s soccer game or your daughter’s piano recital, which are the kind of moments I truly cherish as a father. That said, finding the right balance between work and life, and ultimately making time for everything, is a constant struggle.

So, as we all continue to navigate this journey, here is some advice that’s worked for me that I hope will also work for you.

Stay Positive and Be a Strong Role Model 

Whatever you are going through at work – however gut wrenching it may be – must not carry over into your home. Taking your frustrations out on your family not only causes them to worry, but also drives them away.

As an important member of your family, you lead by example. If your family sees you being positive, that reflects on everyone around you. Remember: they are also going through their own challenges at work or in life, so a negative attitude, and unloading your stress and anger on them, will only escalate things.

Don’t Bring Work Home

As a small business owner with so many responsibilities, it’s easy to fall into the habit of working from home on the kitchen table or living room couch. Don’t do that! Not only will this cause you more stress, but you are also sacrificing valuable time with your family that you can’t get back.

Make Time for Your Loved Ones 

The only way to spend time with loved ones is to make the time to do it. You’re a small business owner, so your time is already extremely valuable. But, that doesn’t mean always spending it on work.

Finding ways to make time for your loved ones isn’t always easy, but it’s not as hard as you think either. Delegating is a good place to start.

Successful small business owners know they can’t do everything – or be everywhere at once – and must be able to trust their team if they’re ultimately going to succeed long-term. Instead, delegate tasks to your staff. Not only will you have more time on your hands for your family, but you’ll also empower your team. Just be sure to congratulate them if they do a good job!

Separate Your Finances 

We know a common cause to a failed marriage or relationship revolves around money. So, you must separate business from personal as much as possible. Mixing the two only leads to mistakes, which could complicate your life more than you ever imagined.

Don’t risk separation from your spouse over something that can be strategized and executed. This is an area we specialize in at Sound Business Services with QuickBooks solutions that offer this feature, so don’t hesitate to reach out today!

Make Decisions Together When it Comes to Debt

If you can finance your small business without incurring any debt, consider yourself lucky! But, for the most part, we all have to make important financial business decisions that bring on debt, or at least set us back.

When making those decisions, it’s important to always discuss them with your spouse for two reasons. First, your spouse will not only respect you more, but also feel more like a valuable contributor. Second, depending on the state you live in (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin), your spouse can actually be legally liable for any of your business debt; blindsiding he or she in the process will only lead to further backlash.

We are Here to Help

At SBS, we are truly happiest when our clients are happy. As fellow small business owners, we know how difficult balancing work and life can be, and how challenging it is to make time for our loved ones and live the happy, healthy lives we all desire.

We know we can help you save time in your work that will allow you to enjoy the more important things in life. At the same time, we are always here to listen to what you’re going through, and provide some guidance and advice if we can.

Contact us any time to see what solutions best work for you and your business so that you can live the healthy and happy life with your family that you deserve.

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