Everything Comes Down to Balance

Life is a balancing act, especially when you own your own business!

As entrepreneurs, we feel the pushes and pulls of being an owner, a manager, a strategist, and that’s just to name a few.

So where’s the peace? Where’s the balance?

It starts with you and these three key areas in your business:

Strategy - Fine Details vs. Big Picture

Many people label themselves as a “detail person” or a “big picture person”, but the thing is, we’re all both types of people, we just are so used to those two labels always in contrast.

I like to think of it this way: the details make up the big picture. When you think of things as interconnected, rather than separate, you realize that there is more push and pull, give and take in how to approach your business journey.

The “big picture” is your vision and your mission; the details are how you drive those through the work you do every day.

Your financial plans, marketing plans, and operational plans should have the details that tell you how you work towards and achieve your “big picture”, AKA your goals and vision.

Finance - Money In vs. Money Out

A balanced bank account makes for a happy business owner (and bookkeeper)!

When your expenses/costs are larger than your income, it’s safe to say that things are out of balance. Overspending is the most common unbalance when it comes to finances. Our spending needs to be proportional to what we are bringing in and the cost of operation.

The same goes for underspending! Again, spending needs to make sense, and if we are not spending on our business, then we run into the problem of not being able to scale and grow properly, or we risk continuing to use outdated software, equipment, processes, etc., that will ultimately drive business away.

And the best way to get to the bottom of this? Review your cashflow!

Time Management - Time On vs. Time Off

Now, how could we talk about all things balance without talking about your time?

As much as we love what we do and the businesses we build, it is important to have boundaries with ourselves. The depth of care we have should not override our need for rest, and frankly, your business should not be “your whole life”. It’s a part of your life, but it is not the entirety of who you are because that would be a bit reductive, wouldn’t it?

That’s why, as much as it is important to spend time on your business, you need to spend time off your business. Setting working hours is a great way to establish routine and create purposeful time to be in your business, as well as out of it. 

While everyone’s thresholds are different, as they ebb and flow with life, the most important thing to remember is to take adequate breaks to ensure you don’t burn yourself out of your business.

It’s not about finding balance, it’s about creating balance. The habits we set for ourselves dictate how we live our lives, so when we set intentional and mindful habits that prioritize balance, we ourselves live balanced lives.

So, what’s one habit you’re going to change that will help you create balance in your life?