The ultimate goal of entrepreneurship for most people is to live a more balanced lifestyle: people want to navigate away from a system where too many hours are in the office instead of with loved ones. Despite this, many business leaders – at some point – fall into a pattern of overworking to improve their income.
Change is constant in business, and so is the necessity of working long hours. When I am not coaching, I am a Board Officer for the Girl Scouts of Wisconsin South East or acting as a member of Technology United. Doubling your income and your time off is more accessible than ever. It simply requires a shift in behavior and perspective.
The New Business Paradigm
As a society, we have shifted to an Information Age. Knowledge is power: it is the most valuable factor of production. We achieve success not by the number of hours we put in but by what we do within those hours. Once you adapt to this new approach to business productivity and success, you can take advantage of this opportunity to create the work/life balance you’ve envisioned.
Change Your Approach
Identify what offers you and your business the most significant value by using the 80/20 rule:
- Identify the top 20 percent of activities accounting for 80 percent or more valuable work.
- Identify the activities in the bottom 80 percent, which are of lower value and are time-consuming.
Once you’ve identified these, shift your focus to valuable tasks while reducing, delegating, or eliminating the nonessential ones as quickly as possible.
Double Your Production, Double Your Income
This approach leads you to accomplish more. By improving your performance, you initiate a domino effect: your improved productivity increases your output, and, eventually, your pay increases and doubles. In my coaching practice, I teach a strategy called the Grand Slam Formula to help entrepreneurs get twice as much done in the same amount of time.
Commit to Evolving
Committing to change, adopting healthy habits, and achieving goals requires discipline, consistency, and accountability: you should take responsibility for change to get results. Being employed involves taking charge of your personal and professional life: you are responsible for your work and the success of the business.
Take Time Off
You have to secure free time – without balancing your personal life with your career, your productivity, output, and, ultimately, your pay will suffer. With your new work habits, your time off will not affect your productivity. Start with one full day off work and eventually increase to two: progress to a three-day vacation every three months, then every two months, and so on.
Entrepreneurs and Executives who need professional mentorship to achieve greater personal and professional life balance fulfillment can book a consultation with me.