16th January 2017
A survey from business loans specialist Liberis in November 2016 gives much food for thought for hard pressed small business owners.
But amongst the doom and gloom of reducing costs, Brexit complexity, American presidential decisions, and the age-old issues of competing against the big players was an interesting fact about the pressures SME bosses face and work life balance. Trying to juggle all the competing business priorities, whilst wading through the endless legislative paperwork that keeps a business running day to day can be tough.
In the survey over one in four bosses revealed that they’d choose a better work life balance as their New Year resolution.
But that’s tricky isn’t it. You’ve been building a business from perhaps humble beginnings and it’s now building nicely, with a few staff and some good orders. When you started, it was all so manageable, as you were small enough to keep on top of it all. But as you’ve started to succeed the workload has gotten bigger, the hours longer, and the demands heavier.
And it extends across the business. Key people you brought in to do one job may now be wearing multiple other hats, affectring their work life balance too. Is it time in your business to take stock and refocus your attention to the things that make your business great.
How will SME owners get a work life balance in 2017?
When growth, profitability or just survival is your goal, it takes a lot more headspace than just keeping things ticking over. It means a switch to a more entrepreneurial and creative mind-set – by everyone in the company, but especially at director/manager and owner level.
Having to take time to deal with day to day work, however essential, distracts from this mindset and can put the brakes on growing your organisation. Forensically examine your time and look for non-growth blockers. Spend time developing an actual growth strategy rather than just seeing how it pans out. Untangle jobs, invest in your team and look for ways in which to do things faster, quicker, better.
Our Ebook ‘Small business growth, Large Business Headache’ gives more on the subject. Download your copy below
