Life Balance For Entrepreneurs

Filed in archive Personal Development on April 9, 2007

To outsiders, business owners and entrepreneurs appear to be working all the time and balance is not the first word you think of when their names come to mind.

However, being self employed requires sacrifice, commitment and focus. I often think outsiders perceive an individual as a "workaholic" who may simply be a very focused and driven individual.

Looks Can Be Deceiving

What looks unbalanced to many people who work as employees could feel like balance to an entrepreneur. Understand this -- an entrepreneur has a vision of what she is trying to accomplish. She becomes very driven and committed to achieve this objective.

From the entrepreneur's perspective, to do anything else would show a lack of balance or poor judgment. After all, when you have invested every penny in it and spent years developing a business, it would be foolish and irresponsible to quit. However, there is still a need to achieve some sort of balance.

Traditional Life Management theory suggests that you must keep an even balance in all areas of your life:

• Family;


• Social;


• spiritual;


• Financial;


• Physical;


• Intellectual.

The theory suggests that like a wheel, you want to accomplish a little in each of the six areas all the time. The theory suggests that if you spend too much time in any one area -- the wheel is no longer round. Rather, it becomes lop-sided, which makes it much more difficult to roll. Whereas, if you spend an even amount in each area everyday, the wheel is round and you roll through life effortlessly.

Even the best intentioned and disciplined people struggle to put energy into all six areas. In fact, few have a perfectly round wheel.

Dynamic Life Balance Strategy

Please understand that I am not suggesting we should just give up because it is difficult. Rather, our current times demand a more flexible and dynamic approach. After all, what is the purpose of trying to create balance? Is it not about creating a sense of satisfaction and control?

I propose a more achievable strategy would be to allow yourself the flexibility and freedom to switch gears by investing time, energy and focus onto an area dynamically. Be willing to switch agendas and priorities based upon your needs, values and desires at that specific point in time.

Focus Area	1) Issues	2) Facts	3) Options	4) Costs	5) Decision	6) Action
Family
Social
Spiritual
Financial
Physical
Intellectual

Take a piece of paper and draw 7 columns wide by 7 deep just like the example above. Then for each of the six focus areas answer the following questions:

• What are the issues? What do I want more or less of in this area?


• Face the facts. Tell yourself the truth about the current situation. Identify problems and concerns that are troubling you.


• Consider and evaluate your options. Look for alternatives, ideas and options to approaching this area of your life from a different perspective.


• Examine the costs. Everything worthwhile has an associated cost. It could be financial. Often it is other things: reputation, time, energy frustration, etc.


• Make a decision. Be good to yourself and make the best decision possible.


• Take action: do not let yourself be guilty of failing to act after making a decision. Make a plan, get support or ask for help. If it is a difficult area, I strongly suggest you get the support and feedback from someone you trust and respect.

Be Patient

Give yourself time. Do not try to do it all at once. Take your time. Choose the area you feel is most important or the highest priority and tackle it. Then once you feel balanced in that area move to the next. I suggest you annually take the time to do this exercise.