Avoid Business Owner Burnout
This article is provided by the Greater Scranton Area SCORE Chapter.
Choosing to go into business for you is a major decision that usually means a commitment to hard work and long hours. As you struggle to build your business, however, you also must be careful not to overdo it and succumb to business owner burnout. It’s vital to take some time off to recharge your personal batteries.
But there’s a problem. Many business owners are afraid to leave, even for a short period. They fear that something will go wrong or they’ll miss out on that next big opportunity. With so much to do, how can an entrepreneur ever relax?
According to a survey conducted by American Express, 40 percent of the smallest business owners—those with less than $200,000 in annual revenues—plan no vacation time whatsoever in any given year. And even those who do schedule a break never really get away. One of every three link vacation time to a business trip and half will check in with the office at least once a day, if not several times.
According to the AmEx survey, these are the vacation-blocking concerns cited most often by business owners:
• There is no other competent person to leave in charge and others will make the wrong decisions.
• An important client or customer will not receive appropriate service.
• The business will miss a new opportunity.
• An operational breakdown will occur without anyone to solve the problem.
Despite these concerns, you can schedule a refreshing getaway with some careful advance planning. For example, draw up a list of worst-case scenarios and brief those in charge on the possibilities and chief concerns of each customer.
Tell key clients or customers in advance of any extended time away you are planning. Introduce your stand-ins and express your confidence in their ability to handle any issues that may arise. If you never delegate important tasks to others at your business, you can’t expect them to fill your shoes when you take time off. To create a saner schedule for yourself, and achieve a comfort level that good things will happen when you’re not there, learning to delegate responsibilities is vital.
For more small business management ideas, contact SCORE “Counselors to America’s Small Business.” SCORE is a nonprofit organization of more than 10,500 volunteer business counselors who provide free, confidential business counseling and training workshops to small business owners. Call (570) 851.1608 or visit www.scorescranton.org to contact the Greater Scranton Area SCORE Chapter.