As the new year approaches, small business owners are urged to prioritise self-care and establish clear boundaries to achieve a healthier work-life balance.
According to a recent study by Capital on Tap, almost one-third of small business owners have had to make uncomfortable sacrifices in their personal lives for the success of their businesses.
David Luck, CEO at Capital on Tap, shares invaluable insights and practical tips for entrepreneurs looking to strike a balance between professional demands and personal well-being.
Survey Highlights: Sacrifices and Self-Care Among Small Business Owners
The study reveals that running a business takes a toll on the mental and physical health of entrepreneurs. Key findings include:
- 89 percent of successful small business owners incorporate some form of self-care into their daily routines.
- 39 percent believe it’s crucial to dedicate time to self-care each day.
- Common self-care activities include showering (99%), healthy eating (93%), and outdoor walks (92%).
- Long-term stress has led to sacrifices, with 34 percent reporting that their mental health has suffered.
- The top sacrifice is missing events with friends or family (36%).
- Work-life balance and sleep schedules have suffered for 34 percent of small business owners.
Top Tips for Maintaining Work-Life Balance: Insights from David Luck
David Luck, CEO at Capital on Tap, emphasises the importance of taking care of oneself amidst the chaos of running a small business. He provides practical advice for achieving a healthy work-life balance:
Set Expectations for Yourself:
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- Establish a daily routine to manage your time effectively.
- Factor in normal starting and finishing times, take lunch breaks, and allow for flexibility.
- Realistically outline achievable daily goals
Delegate Where Possible:
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- Avoid the trap of trying to handle everything alone.
- Delegate tasks within your company or consider outsourcing to free up valuable time.
- Automate processes, such as applying for a business credit card, to streamline financial tasks.
Protect Your Free Time:
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- Set clear boundaries to safeguard evenings and weekends.
- Disconnect from devices periodically to recharge.
Don’t Give in to Social Media Pressures:
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- Avoid comparing yourself to others on social media.
- Acknowledge that success stories often omit the challenges faced by businesses.
Keep the Focus on You:
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- Despite distractions, concentrate on your business and personal goals.
- Recognise that success varies for each individual.
Prioritising Self-Care for Business Success
The study underscores the need for entrepreneurs to prioritise self-care to achieve sustained business success. By incorporating these tips into their routines, small business owners can strike a balance between professional commitments and personal well-being.
