Being A Dad And Owning A Business: 5 Useful Tips

Owning a business can be fulfilling in itself, but what happens when you throw a family into the mix? Trying to spend time with family and run a business can be overwhelming, especially when work keeps you away from vital moments. Luckily, there are ways you can manage your workload to allow more time with the family. 

Learn to Delegate

As a business leader, you’re likely delegating tasks already - perhaps it’s time to offload even more work. If you’ve hired the correct people, you should have trust in them to carry out the work efficiently. When you choose to delegate tasks, it’s best to provide reasoning, especially if you’re upping someone's workload. Additionally, you can strike a deal and provide additional benefits, which may sweeten the pot. 

Set Clear Boundaries

When you run a business, it’s easy to get drawn into work when you’re supposed to be taking time off. After all, the more work poured into a business, the higher the chances of success and growth. To avoid running your work-life balance, you need to set strict boundaries for yourself, your employees, and your family. 

You need to work out a schedule for each week and stick to it, which will let your family and employees know when you’re available. Secondly, your employees need to understand that you’re spending time with family and that you aren’t to be interrupted. However, you will need to put processes in place for dealing with absolute emergencies - and be clear about what constitutes an emergency. Finally, your family needs to know that when you’re at work, you aren’t to be disturbed. 

Learn to Say No

Part of sticking to your boundaries involves saying no, which is easier said than done. For example, if there’s an exciting project that you’re invested in and you’re asked to work later hours, you may be tempted to say yes. However, if that bites into the time you’ve assigned for your family, you need to be assertive and say no. 

Know Your Values

Your value will shift when you start a family, which is why we recommend taking a step back and putting your values in priority order. For example, the chances are that your family is your number one priority now, meaning business efforts take a back seat. 

Is Selling Right for You?

If you’re struggling to find time still, perhaps it’s time to sell all or part of your business. The best way to make money from a business sale, while still benefiting from your success, is to find an equity partner like Rami Cassis of Parabellum Investments. An equity firm will buy a majority share of your business and take over much of the managerial responsibility, leaving you free to spend more time with your business. 

Spending more time with your family while running a business is a challenge, which will require you to have 100% trust in your team. If you don’t manage to strike a balance, there’s nothing wrong with stepping back and selling part of your company.