There is no question that running your own small business takes a lot of effort. Small business owners work long hours, often for significantly less reward than their employees who have security in their wages. Then there is the cash flow. Having the funds available to pay rent, employees, suppliers and not to mention the government keeps many a small business awake at night.
So I read with interest this recent article called ‘My survival tips after three years of running my own business’ by Australian lawyer, Kate Ashmor.
Kate says: “Working until midnight for days on end, and forgetting to eat lunch, is a recipe for poor health and burnout. It’s led to some important self-care decisions, which I share with you today.”
Her first recommendation is to delegate where possible.
“I’d always worn my micromanager cape as a badge of honour, but in truth it was a rod for my own back.
I now see delegation as a prudent investment, not an expense. Delegation frees up valuable time to focus on tasks that generate revenue and grow my business. A delivery fee is a far wiser choice than the opportunity cost of travel, parking and queueing time. Now I constantly ask myself if the task I am about to do must be done by me. If the answer is no, that task is delegated to a paralegal or outsourced virtual assistant.
Even if I know it will “only take five minutes” to do it, I force myself to stop and let go. Because all those dozens of “five minutes tasks” I’ve been doing.”
Her next recommendation is that it is essential to say ‘No’.
As well as talking about clients, she also talks about the bane of all small business owners’ lives – emails and media.
“Be brutal with the email newsletters you subscribe to and the people you follow on social media. If they haven’t created any value or meaningful content for you in the last month, unsubscribe and unfollow. I used to love reading publications cover to cover. Now there’s not enough time, so choosing what to read and when is crucial.”
Her final thoughts are:
“Our lives are complex and multifaceted, filled with opportunities and challenges. Work and career – they’re just aspects of our lives. Delegating, outsourcing and saying no are strategies to ensure our career does not become our identity.”
This is excellent advice for all small business owners everywhere. Once again, the link to read the full article is: https://womensagenda.com.au/latest/soapbox/survival-tips-three-years-running-business/