5 Reasons to Start a Business for improved Work-Life Balance

There are many reasons why a person decides to start a business and every reason is crucial in maintaining direction and driving the business towards your goals and dreams. The reasons for starting provide the 'why' throughout the lifetime of a business.

Some entrepreneurs establish and develop businesses to support Work-Life Balance, as they want to step out of the 9-5 routine for a 'better life'. For others, they have reached a point in their careers, where their skills and industry mastery are at a stage that they can step into their own space and hold their own.

Whatever your reasons for starting a business, the fact that a balanced approach to life becomes challenging, as a business grows and becomes successful, remains true. As an Entrepreneur Coach, I am having an increasing number of conversations with successful people who run their own businesses, and want / need to find their way back to maintaining work-life balance and a life, where both personal and professional live work in sync.

Remembering your 'why' and balanced living, when developing your business services and model is essential, in terms of staying true to your long-term goals.

1. More Flexibility

One reason I always hear is that professional people are seeking greater flexibility in their working patterns. With the world changing as rapidly as it has over the past 14 months, it is clear for some employees (and some employers) that working from an office is not always the best approach for themselves.

Equally, I have professionals who reach out to me, after starting a family or whilst they feel burnout, as they seek alternative ways of earning that also provides them with a strong work-life balance. It is fair to say that any start-up business demands attention and dedication in the first 12 to 18 months, whilst it establishes in its market place and whilst you build your reputation. This becomes your chance to establish a business that works in sync with your personal life and offers a clear focus on work-life balance.

In order to develop a business model and services / product offering that allows you to step back, you may benefit from professional, independent support, such as an Entrepreneur Coach.

2. More spare time for the family

I do have clients who start a business, to free up more time to spend with family and friends. This is a great driver for pushing the business forward to achieve this level of work-life balance in the future.

However, creating more spare time can be true once the business is established and work is flowing in and out of the business. You may also need to build a trusted team around you that can pick up many of the tasks and more importantly responsibilities of the day-to-day running of your business, before you can step back enough to enjoy your vision of work-life balanced.

Working with an Entrepreneur Coach from the early stages of your start-up will help you develop a business model and plan that helps you grow at the pace and scale you need to, in order to achieve your vision. Do reach out for a free chat at hello@rpbcoaching.com to discuss your ideas.

3. Work from anywhere

More and more people are wanting to live their dream of being free and able to work from anywhere. With the internet so widely (nearly) available and with improved global connectivity, increasing numbers of people are willing to consider and establish internet-based businesses that can be managed and delivered from anywhere in the world.

This vision and way of life is becoming more accessible and acceptable by all. The days when people felt the need to sit across a table from each other, in order to do business and have an impact on others, is fading slightly and with many more people choosing to do business differently, business across the internet is becoming part of ‘doing business’. A number of sectors have already pivoted during the pandemic to be solely delivered online.

Providing you have internet connectivity, this way of doing business is perfectly acceptable and if you are looking to combine travel and managing a business, this is the perfect time to start one!

4. Have an option to create multiple income streams / ventures

Over the past 5 years, I have seen an increasing number of people actively working to develop multiple income streams, where they may establish a business, whilst working or are looking to managing several businesses, at any given time.

This is a perfect way of stabilising your income across a few sectors, as well as ensuring that your secure a regular income at all times. This approach works particularly well for those who still want to work regular hours and only for themselves, as well as for those who need variety to keep their interest.

In order for this approach and reason for starting a business to work, you need to make sure that you establish and maintain a strict work-life balance routine and set some boundaries for your ‘business time’. Your health is more important and managing your time will keep you away from burning out or from becoming too overwhelmed with the various income streams.

5. Reach your dreams

For many people, starting a business is a dream that they have probably help onto for a long time. If they have this or if they had that, they would start this business. If the time was right, if they had enough money, if there was someone who could help them work it all out! Well, there is!

For many of the clients I speak with, say that they see a business that they would love to own and manage, but it is a distant dream. Perhaps business is not for me or I don’t know how to start a business in the first place.

The first thing you need is to have a dream about the type of business you want to establish and be a part of. Once, you have a dream, there are many different types of organisations and professionals (like an Entrepreneur Coach) that can help you navigate through the first 12 to 18 months of your start up business.

You need a positive, ‘can do’ mindset, lots of energy and belief that this is what you want and with the right support, you will never need to look back.

If you are working on reaching your dreams; need more clarity on your 'why' or as your business and life has become busier, you have lost sight of your goals and balance, then why not book a call back, to see how we can re-set this direction again? hello@rpbcoaching.com | 07704 715229