As I spoke earlier in my previous article ‘’Trade Service Business Boundaries and Burnout- Lessons from Tennis’’– Passion and Commitment have become the two major factors that lead Tradespeople to live a life of hustle. While the passion to build the business or cover hours overnight can turn into an addiction to work, lack of boundaries and burnouts, we must understand that being ‘’Busy is not a badge of honour’’
As a business coach in the industry, I have something to say to the business owners and Tradespeople who put in an extra hour or two of effort into work. There are two schools of thought when it comes to working and,
When I say “Hustle”, it is based on ‘’working harder and longer than anyone else’’ versus taking the “working smarter and not harder” approach to business.
Take a quick look at how you are dealing with your business, is it the smart way or the hard way? Let me ask you this:
What are you doing currently? Are you starting early, finishing late and working at night and on the weekends?
Are you finishing early and having the time to look after your health, spend more quality time with your family and friends, or are you even considering taking vacations?
When you think about it, is this really what you should be doing with your life? Are you willing to sacrifice the joys of life just to overwork yourself and get the same results? Or do you want to change, improve and evolve in the ways you have been conducting business and get effective results?
To be honest with you, before you jump deep into your business affairs, you need to open up to the various possibilities, trends and effective methods that can help you live a work-life balanced lifestyle.
When professionals work tirelessly in the field, they tend to lack motivation for life, the existing passion fades away and every task will turn into a routine. Rather than having regrets about how you conduct your business, I’m here to tell you how you can do things differently to be satisfied.
Research shows that business owners work more for less pay!
Bonnie Ware, an Australian Nurse working in palliative care wrote in her book “The Top Five Regrets of the Dying” that
- #2 I wish I hadn’t worked so hard
- #4 I wish I’d stayed in touch with my friends – which is often a side effect of working too much and not having time to foster these relationships.
At some point in our life, we are all going to think the exact same way as Bonnie Ware if we are unwilling to make a change. The moment we live in and the time that we use up by only focusing on work will eventually turn into an unhealthy habit and regret.
Especially Tradespeople on the field, they are constantly running around doing various jobs within the days for lower or delayed payments.
Research also shows that,
- The majority of business owners work more than 50 hours per week compared to the average employee working less than hours according to Inc.com and SmartCompany
- 75% of business owners still work when on holiday according to Forbes, and 23% don’t take a real holiday.
We are usually taking a lower financial reward from our business than our employees according to MyBusiness.com.au’s analysis of ABS data. 50% of which are earning under $50,000 per year according to the Australian Small Business and Family Enterprise Ombudsman. Less than the median salary of $62,400 (according to ABS data. And with most small business owners working more hours than their employees the hourly rate wage gap is even larger.
How to work less and make more money
So what is the solution? I’m a big advocate of lifestyle design, and by that I am designing a business that supports the lifestyle you want. This requires both a financial income from your business and free time from your business. Here are my top 6 tips that will help you achieve a work-life balanced lifestyle:
1. Maintain Healthy Boundaries at Work
Set boundaries around your financial reward and when you will be working on business matters. By doing this, you are focused on the most important tasks and avoid burnouts. Live by your boundaries so that you can maintain a work-life balance,
2. Pay Yourself First
Every Business must have the capability to pay the owner and the employees before anything else. Of course you will take dips below market rate wages during growth phases, and expansion but these should be short-lived, and not become the normal practice in your business. If you find yourself unable to pay yourself then you need to consider other solutions to boost your business up.
3. Prioritise your Workload
Eliminate and prioritise work that you should be doing. We are often overloaded with tasks because we try to do it all by ourselves. You either fail to accomplish them on time or you get busy over the week. You can work smarter and save a lot of time if you ignore the unimportant tasks while you focus on the priorities.
4. Batch your Work & Time to Improve Productivity
Batch your time so you can do focused work without interruption, you will get more work done in less time. Being carried away at work is common for many Tradespeople and Business Owners, especially when there are other distractions that delay the task. You might be doing a one hour job for 2-3 hours. Time management is important and this is why batching your time and tasks will help you to effectively complete the work without being distracted.
5. Automate your Business Process
Automate your business work by using software like i4T Business, the i4TBusiness platform has automations that allow things to happen without you having to do them. While you are away during the weekends or after work hours, the automated system will ensure that your clients and customers are satisfied. It makes your job way easier and helps you work smarter while you focus on something else.
6. Delegate or Outsource your Work to be Effective.
Delegate to other team members or outsource tasks, especially the low-value work that others could do if properly provided with the right training and brief. There are many outsourcing solutions that are way cheaper and save a lot of time for you. By doing this you are allowing yourself to focus on the important work, while the rest is taken care of.
Every Business owner dreams of working less and making more money, by following these 6 tips you can too achieve this! So what are you waiting for? When there is an opportunity to work smarter and create a greater hustle.
For most business owners who are busy doing what their business does, finding a more balanced approach to business doesn’t just happen naturally, we need education, coaching and mentoring to achieve this balance. This is why I’m here to help you get the best out of everything and create the right work-life balance for you!