Research by the Alternative Board reveals that 30% of small business owners work for more than 50 hours every week, and 80% said they feel they work too much, according to Forbes. Entrepreneurship and parenting have a lot in common. Both are high-stress pursuits that require unlimited attention and time to grow and be successful. For most people, taking care of kids if you’re working as a business owner is an insane endeavor that’s difficult to garner any success.
However, you can thrive in entrepreneurship and be a loving and devoted parent at the same time. Below are several tips to successfully manage parenthood and business ownership simultaneously without losing your sanity.
There are many reasons why scheduling is vital for entrepreneurs managing business and family. When you schedule your daily tasks, it’s easy to know when you’ll be spending quality time with the kids, working, unplugging, or exercising. That way, you will not neglect your parenting roles or business ownership duties. Most importantly, planning creates room for productivity and reduces the chances of being caught off-guard. As a general rule of thumb, write down your family and business obligations, then plan out activities on a calendar.
Create A Support System
As an entrepreneur and a parent, you need a strong support system to ensure you’re effective in your roles. Therefore, set up strategies that support your business goals and allow you to spend quality time with your family. Inform your employees that you have parental duties apart from being an employer. Doing so ensures everyone feels comfortable and understands your reasons for moving an evening meeting to the next morning. You may also want to mitigate business risks by investing in insurance for business owners. Having a system in place to support you financially when an accident occurs in the workplace is vital. You won’t have to sacrifice family time working extra hours to compensate for income loss, injuries, and property damage.
Limit Distractions and Fully Commit
Whether you’re a first-time entrepreneur or established business owner, limiting distractions in the office and at home can be challenging. However, you can commit 100% to your tasks while at work by improving your time management skills. When you’re home, consider staying off your phone or laptop and focus on your kids. Take advantage of family time to engage in meaningful activities like playing games, watching cartoons or comedies, helping the kids with their homework, and exercising.
Being an entrepreneur and parenting can be challenging because both demand time, discipline, flexibility, and leadership. But with proper planning and prioritizing, you can become successful in both areas. Make it a habit to schedule, delegate duties, build a support system, and stay focused on entrepreneurship and parenting.