Get a lift from good work-life balance

Article From The Sunday Times

03.12.06

People who start up businesses can often end up working all hours of the day. James Scoltock looks at how to reclaim your life

In theory it was perfect. Starting your own business was going to give you the freedom you longed for when you were chained to a nine-to-five job. As the boss, you were going to decide when to work - and when not to.
But sometimes things don't work out the way you planned. If you are one of those people who have taken the plunge and discovered that running your own company takes up far more time than working for someone else ever did, then you are not alone. According to research by Barclays, entrepreneurs work more than 60 hours a week, meaning they end up spending less time with their family or pursuing hobbies.

Most small-business owners would prefer it to be the other way round. When Barclays asked what they would do if they could free up an extra hour each day, 72% said leisure; only 5% said new business activities.

So if you are running your own business, how can you redress the balance and start enjoying the fruits of your labours? Richard O'Connor, founder of the entrepreneur network We-entrepreneurs, said that for the first three years of being in business the reality is that you will be working long hours. But he also believes that with a little planning you can find time to switch off and relax.

He said: "You need to prioritise. When people first start in business they try to do everything at once. Sort through your work and decide which tasks are most important."

Although working hard is part and parcel of running your own business, being able to choose when you work is an important way of maintaining work-life balance.

One of the most difficult things for entrepreneurs is to let go when they are on holiday. "Some bankers in the City have it written into their contracts that they must take two weeks' holiday at a time," said O'Connor, something he thinks entrepreneurs would do well to copy.

"You need at least five days before you can let go. Then you need to do something like read a novel, otherwise you'll have Excel spreadsheets running through your head."

After stints in the Far East with the Royal Navy and in London as a stockbroker, Michael Slater became managing director of Mandarina Trading, a women's bespoke shoemaker, last year. He made the switch after an old friend convinced him that he would enjoy running a small business.

Slater still works long hours, but he has become aware of the importance of maintaining a good work-life balance. His advice is to keep family and friends close for support and to have a lot of activities that take you away from your business. He said: "I've got my dog, I've got my fishing, and I've got my riding. My quality of life has gone through the roof."

If you are a fledgling entrepreneur trying to start your business from home, as 59% of new start-ups do, then maintaining even a semblance of work-life balance can be extremely difficult.

Emma Jones, founder and editor of Enterprisenation.com, a website set up specifically for homeworkers, said: "The barrier between work and life blurs. That is the challenge."

She said the first step in carving out any kind of balance is to create a dedicated office space in the house. "When you close the door, you can say that's it, I'm home for the evening and won't look at e-mails until the morning."

Her website includes several tips to ensure work doesn't completely engulf your life, such as planning meticulously, so you have set times when you can focus solely on work or family.

The key thing to remember is that getting a good work-life balance is not something that just happens. It is something at which you need to persevere.