We know about the difficulties many people in business face in maintaining a healthy work life balance. However, there are other aspects of business which require as much careful time management.
Here, Hywel Griffiths of APD Resolutions explains how people can find themselves caught up in one kind of work at the expense of another. Essentially, they fail to achieve the right work-work balance.
What Drives Business People?
“What do people go into business for? The main drivers, for many, are the passion they have for what they do, and the money they want to earn from choosing their own path.”
This is where people want to focus their efforts, in the areas they are interested in, and in the areas where they feel they can make money.
“Entrepreneurs may have vision and they may have the initial drive to turn that vision into a business, only to find themselves frustrated by the competing demands of managing the business”
Business, in practical terms, involves lots of different kinds of work, many of which require attention at the same time as one another.
This can be distracting for smaller businesses with less resources.
“It’s where keeping your business going can end up feeling like spinning plates, and expending energy in this way leaves you depleted.”
“You feel like your focus is drawn away from your objectives towards simply having to keep things running. Essentially, the balance of the work you are doing is skewed. The proportion of time you should be spending working at what you got into business for is insufficient.”
The problem is, this kind of work imbalance is not just an inconvenience. It can seriously impact on a business’s profitability.
One element of your business is setting it up to run in a certain way, and maintaining this; another encompasses all the things you want to be doing, relating to your passion, money-making efforts and work life balance.
There is, though, a third part.
“There is what I call the three box senario. You’ll only get the third one if you’ve worked out the relationship between the first two. What’s in box three? It’s your business growth. It means more customers, more revenue and more profit.”
Business growth is the result of achieving the right balance between different work demands, but this balance will only come through careful, strategic planning.
“You can have spark of an idea and the passion to launch it as a business, but if you don’t have a strategically sound foundation, you’re much less likely to turn your passion into profit”
“No business runs successfully on inspiration alone. But nor will there be business growth if it lacks vision.”
“This is the work-work balance: putting what you need in place as a solid foundation, to run your business properly, which then enables you to focus on the things you can do to then grow your business.”
To discover more about APD Resolutions and how they can help to develop your work-work balance please:
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People start their own businesses for a variety of reasons, but what many of them find once they have taken this route, is that their work-life balance suffers.Having gone into business for themselves, they were confident that it would realign how they spend their time, only to find that instead, it eats up all the time they have available.They should look beyond a philosophy of work-is-life, and approach business strategically and methodically, to make better use of their time, and to restore their work-life balance.There are four key areas to focus on:Your USPYour financial analysisYour target marketWhat your competitors are doingHope you enjoy the video and have an amazing day!
Posted by B-growth solutions on Wednesday, 4 July 2018