5 reasons it’s wise to share the load in business
We all care deeply about our businesses. Usually, we’ve put a lot on the line to make it a success — we’ve put our homes up as collateral for a loan, we’ve worked long hours and missed important family moments, and so on. We care passionately about the enterprise we’ve created, the product or service, the people who work in it, our place in the community.
And because we have that passion — because it’s our “baby” — we can very easily find ourselves in a situation where we’re hugely overworked, incredibly stressed, have no work-life balance, and it begins to have an effect on our health.
If that sounds like you, or someone you know, it’s important to remember one key thing: You don’t have to do everything yourself.
In fact, doing everything yourself might not just be damaging your health, it might be damaging the health of your business. Here are five reasons why it’s important to share the load.
1. No one can do everything and do it perfectly
It’s obvious, really: If you’re overstretched, it’s easy to fall short in several areas. Things get forgotten, slip by the wayside, or aren’t done to the best of your ability. It’s far better for your business to train your employees to do these jobs correctly.
If it’s not a job you want to trust to a member of your team, do you have a consultant, contractor or service provider who could do it for you instead? For instance, if you’re doing your own accounts, wouldn’t it be more efficient and cost-effective to entrust these backroom tasks to a bookkeeper or accountant?
2. You risk losing track of your long-term goals
If you’re focused on the day to day or just limping from one month to the next, what you’re not doing is focusing on your longer-term business. You’re taking a real risk with your business if you’re not taking a step back, assessing where you’re at, scoring your achievements against your plans, and working on new goals and plans for the future. You’re taking a real chance with your future success.
You’ll be missing opportunities to improve, to learn from mistakes, to put in place new workflows and processes or to introduce new tools to help your business improve and become more profitable.
3. If you trust your team it’s easier to grow your business
Having a good team behind you — one that feels trusted and enfranchised — has two important effects on your business.
Firstly, if you trust your team, give them responsibilities and let them get on with their jobs; it frees you up to focus on the bigger picture. You can get out and drum up business, meet new clients, find new suppliers, or develop more efficient business practices.
Secondly, employees who feel like they’ve been trusted with responsibility are more likely to work harder, more efficiently and more enthusiastically. They’ll feel like they have buy-in to your business. Give them opportunities to grow, flourish and achieve — provide training, support and feedback — and watch your business grow along with them.
4. Work-life balance is the most important thing of all
What are you doing it all for? What’s the point of all this activity if it’s not to give you and your family a better life? Well, you’re not living the good life if you’re working 24/7 and failing to spend time with your loved ones, enjoying the fruits of your labour.
As the saying goes, “you’re a long time dead”, so you may as well enjoy yourself while you’re here. So why not take some of the stress out of life?
5. It’s easier to share the load than you think
If you’re bogged down doing everything yourself, it might well feel overwhelming — like you couldn’t possibly share the load. But you can. Your business will be better off for it — and so will your health and family life.
Why not start by sharing the load when it comes to your financials? You can use Reep to collaborate with your accountant and have them help you with often-stressful areas like cash flow forecasting, annual budgets and five-year budgets?
Reep believes in simplicity and working with our clients to help them get the most out of their time. Visit our website for more information.