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Welcome back everyone. In the sixth and final part of my blog series, I want to discuss something that affects all of our financial journeys: Superannuation. Perhaps you’re concerned about your retirement savings? Or maybe uncertain about how to make the most .....
Most new business owners look forward to being their own bosses and controlling their own destinies. They think they’ll be able to schedule their holidays when they like and have more flexibility over their time. Then reality sets in, and many business owners end up feeling that their business is running them instead of the other way around.
Has this happened to you? Do you feel you’ve lost control?
It’s easy to let the inexhaustible demands of your business get the better of you, but there are things you can do to turn it around and take control. Let’s look at a few:
Your day will always have 24 hours, no matter how much needs to get done. You’ve got to remember that if you want to perform at your peak, you need to take care of yourself. You need to get enough sleep, eat well, spend time with your family, and exercise. Use a planner to block out these essentials, and then fill in the rest with your top business priorities. If you’re not able to fit everything in, delegate some of your business tasks to other people.
You need to be accessible to those who depend on you, but don’t become a slave to your phone and email. Invest in a good mobile device that will allow you to keep your schedule and important information with you at all times, but unless you’re waiting for an important text or call, set your alerts to silent. Business owners need to be able to focus, and if you’re constantly allowing interruptions, you won’t be able to think clearly or productively.
In order to “stay connected, but not too connected,” choose certain times of day for communication, and try to stick to your schedule. For example, spend an hour in the middle of the morning to answer emails, return phone calls, and ask questions. Check your messages again after lunch, and then spend another time slot at the end of the day to wrap up the details. In this way, you can take advantage of long, uninterrupted work times and also stay connected to those who need your guidance.
Hire the very best people you can find, and then trust them to do the job you hired them to do. Because the ultimate responsibility for your business rests on your shoulders, it’s easy to micromanage your employees and try to oversee everything they do. Resist the temptation, though, for your own sake and for the sake of your employees.
Instead, schedule regular meetings with your managers so they can report to you and get guidance on what to do next. In between meetings, be available for questions, but try to avoid checking up too much. This will free up your time and empower other people in your business. Their empowerment means a more confident workforce and a business that operates without you pulling the strings.
Remember that vision you had of having a business so you could be in control of your destiny? It can still be yours. Contact us here at Altus Financial for help with taking control of your business and shaping your days to fit that vision.
For insight into the current state of your business' health, try our Healthy Business App by clicking below:
Set your business on the right path with this simple guide.
Make sure you’re on the right track with this online checklist.
© 2022 Altus Financial, All rights reserved.
Altus Wealth Pty Limited ABN 55 649 956 212 is an Authorised Representative of Altus Financial Services Pty Ltd ABN 24 637 026 825 an Australian Financial Services Licensee (AFSL no. 520266). Altus Financial Services Pty Ltd is not responsible for the advice, products and services provided by Altus Accounting. Julie Azzi is a credit representative (CR No. 366834) of BLSSA Pty Ltd ABN 69 117 651 760 (Australian Credit Licence 391237).
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