Conversations about Money Series
This is part two in our conversations about money series, for part one, click here.
I often hear from business owners who are struggling and stressed. They are either burnt out or approaching burnout very quickly. They need to take some time off both for personal and professional reasons. But they hesitate, worrying that if they do, their business will fold, and they will have nothing to come back to. Take it from someone who has seen it work—it can be done, with even more benefits than most can imagine— if it is done correctly.
Can I Really Take Time Off from my Business?
Running a business is undoubtedly demanding. The to-do list is never-ending, especially for small business owners who often wear most, if not all, hats. If this sounds like you, you probably feel like there is never a good time to even take a lunch break, let alone a few days off, despite desperately needing to step away. Worries flood your thoughts …
- You worry that the business will suffer after you’ve spent so much time, energy, and resources building it up.
- You worry your employees won’t show up, or if they do, they won’t do the job they’re supposed to in your absence.
- You worry that customer or client service will drop, decreasing revenue, which will snowball into not being able to make payroll or pay your bills.
These worries are all very natural. However, it’s important to understand that taking time off is not only essential for your personal wellbeing, but also for the business’s overall productivity. The challenge lies in stepping away without compromising the success and stability of it. But, as with most in business, with some best practices and practical advice, it can (and truly needs to) be done.
How Can I Step Away without Paying the Price?
Here are three tips to help you take time off while ensuring your business continues to thrive in your absence:
Tip 1: Delegate Responsibilities
One of the most effective strategies for taking time off as a business owner is to delegate responsibilities to capable team members. You can start by identifying key tasks and responsibilities that require your direct involvement and those that don’t. Trust your team to handle day-to-day operations, decision-making, and problem-solving in your absence by doing the following:
- Provide clear instructions.
- Empower your employees to make decisions autonomously.
- Establish channels for communication and support.
Doing this not only helps you, but also helps them. Delegating responsibilities allows you to take time off with peace of mind, while nurturing professional growth and development within your team. So, instead of a negative outcome, you’ll likely see a positive impact when you return. With the empowerment you provided, your team members will be stepping into new responsibilities eager to learn and grow.
Tip 2: Implement Systems and Processes
Creating efficient systems and processes is crucial for maintaining business continuity when you’re away. Document standard operating procedures, workflows, and protocols for various aspects of your business, including sales, customer service, and administration. By standardizing procedures, you’ll be ensuring consistency and minimizing the risk of errors or disruptions both while you’re present and in your absence. Additionally, you can consider leveraging technology and automation tools to streamline operations even further. Think CRM systems or even Google Drive and Calendly. Investing time and resources in establishing robust systems and processes will pay off tenfold when you are ready to take that much-needed break from your business.
Tip 3: Plan and Communicate in Advance
Effective planning and communication are key to a successful break as a business owner. Start by scheduling your time off well in advance, considering any upcoming projects, deadlines, or commitments. A best practice that may seem obvious to most is to avoid scheduling any time off during a peak season or when a deadline is fast approaching. Instead, look for times when it is typically quieter and less stressful. Inform your team, clients, and stakeholders about your absence ahead of time, providing clear dates and alternative points of contact if needed. In that communication, be sure to set expectations regarding your response times, availability, and any temporary changes to business operations. And be sure to communicate your confidence in your team’s ability to handle responsibilities in your absence. By planning and communicating proactively, you minimize uncertainty and ensure a smooth transition during your absence.
Taking time off as a business owner is not only beneficial for your personal wellbeing but also essential for the long-term success of your business. When you are exhausted and frustrated, you’re not operating at your best, which means no one else will be either. By following these three tips—delegating responsibilities, implementing systems and processes, and planning and communicating in advance—you can take time off without jeopardizing the stability and growth of your business. When in doubt, remember that prioritizing self-care and work-life balance is not a luxury but a necessity for sustainable entrepreneurship.
When it comes to money, it’s not just business, it’s personal. I understand that it takes an enormous amount of emotional bandwidth to deal with concerns like these and want to learn about the experiences you are having. I want to work with you to change your narrative around money and let you get some rest at night. So, please pick up the phone or send me an email and let’s talk about it. Let’s have the conversations you need to have—no judgment, no embarrassment; just support and guidance.
At Agile Planners, we provide strategic guidance and outsourced CFO services to companies of all sizes. We can help provide the strategy your organization needs for the growth you want. We understand that no two organizations are the same. And with our experience and financial knowledge, we can help develop the right strategic plan for your business to grow and reach its goals. Simply, we’ll be your trusted partner, so you can focus on running your organization. Contact us today to learn more about how we can help.
