3 Benefits of Setting Boundaries for Entrepreneurs

Can we be honest for a minute? Being an entrepreneur is hard. You probably went into business because:

1. You truly love whatever it is you do. Whether that’s accounting, law, writing, or underwater basket weaving, you love (and are good at) something, and you want to share it with the world.
2. One of your core values is freedom; you want to choose who you work with, when, what you charge, etc.

Does that resonate? If so, are you, like many other entrepreneurs, frustrated because you have less and less time to do what you do because you’re constantly doing things outside your wheelhouse? And, are you working long hours, too many days a week, and making less than you’d like while dealing with clients you’d rather not deal with?

Ouch.

What if I told you that setting healthy boundaries could solve your entrepreneurial challenges?

Sign me up, Sheryl!

In this piece, we will discuss a few boundaries you can set and how they can improve your business and your life.

Healthy Boundaries for Entrepreneurs

You want to provide excellent customer service and create a horde of raving fans ready to sing your praises and send business your way, right? And, the best way to do this is to always say yes, do whatever it is your clients ask of you, and be available whenever they need you, right?

Wrong.

What’s that, Sheryl? I’m not supposed to treat my clients well?

That’s not what I’m saying. I’m suggesting that “treating them well” may look different than we think.

Stay in Your Lane

For example:

You are a writer. Your business provides blog writing, website content, and e-books to small businesses. Upon hearing that you are a writer, someone recommends you to a client who needs dialogue written for his new video game.

You are a writer… can’t you write anything? Shouldn’t you make the client happy by taking his project?

No. Or perhaps I should say “not necessarily.” If you LOVE video games, you’ve written fiction before, and have a handle on dialogue, this gets your blood pumping, and you have the time in your schedule to add the project… go for it. However, if this sounds like something you will struggle with or won’t be able to do with the same level of quality as your usual projects, it’s okay to set a boundary and turn down the work.

What Happens if You Don’t Set a Boundary: You know how much to charge on your usual projects because you know the amount of time and effort necessary to do them. When you throw a new task or skill in the mix, you may underbid (wanting to get the client), and end up working for pennies on the dollar. This can lead to resentment, which in turn creates poor customer service and scrambling to get the project done, which means it may not be up to your usual quality standards.

You may also just not be good at whatever you are being asked to do. We can’t be great at everything and that’s okay! Imagine being a business litigation attorney and taking on a murder case. You may think you’re doing the client a favor by bending your boundaries and serving them. You’re not. You’re actually just increasing the chances your client ends up in prison. Do your clients a favor… stay in your lane.

Choose Your Clients and Your Projects Wisely

Have you ever heard of the Pareto Principle? It states that for many outcomes, roughly 80% of consequences come from 20% of causes. Now, let’s put that into entrepreneurial terms:

80% of your headaches come from 20% of your clients.

Go ahead, think about it. You’ve likely got one or two clients that account for most of your stress. They expect you to drop whatever you’re doing to handle their needs, they ask for discounts for no apparent reason, and they are never happy with what you give them.

What I’m going to say right now may make you gasp and clutch your imaginary pearls… especially if you are new to business or struggling to make ends meet. Are you ready?

Fire them.

I said it, and I meant it. Fire them. If they are causing that much of a problem, they are zapping your energy. Imagine if you no longer had to work with them and could spend that time looking for new clients, better serving existing clients, or even better, upselling your existing clients (in an ethical way!) and working on more projects with people you actually LIKE.

What Happens if You Don’t Set a Boundary: Well, that client probably won’t get easier to work with. The more you train them to expect, the more they will want from you. Your headache will only get worse. You’ll also have less time to devote to good clients and may lose some of them as you neglect their business.

Protect Your Personal Time and Relationships

Especially in the early days of your business, it’s easy to work insane hours to get everything going. This can be exciting (and understandable) for a short period of time. Family and friends may admire your singular focus and go-get-em attitude. They may understand that for a few weeks or months, you won’t be as available to them as you were at your 9-5 job.

But when is enough enough?

Your significant otter (not a typo), children, friends, and extended family will only understand for so long. Eventually, you working well into the night and leaving your partner to handle the family or house responsibilities will get old. After a while, your friends will get tired of hearing, “I can’t have dinner with you tonight; I’m working on my business,” and will stop inviting you places.

Eventually (and may I suggest right now), you need to set your “business hours” or “office hours” and dedicate the rest of your day to your personal life, family, friends, and yourself.

What Happens if You Don’t Set a Boundary: Relationships take work. If you’re not putting any effort or time into making them a success, you will lose them.

Ouch, right? Only when we set healthy boundaries can we truly treat our clients how they deserve to be treated.

3 Benefits of Setting Boundaries for Entrepreneurs

You’ve just learned three important boundaries to set when running your business. What will happen when you set those boundaries?

You will:

1.      Strengthen Your Brand. When you are extremely clear on what you do and do not do, you can create better marketing and attract your right-fit clients. You will do an amazing job on the projects you take on, have plenty of time to work with your existing clients and provide 5-star customer service throughout your business.

2.      Prevent Burnout. Refusing to work with clients who drain your batteries will leave you excited, energized, and ready to take your business to new heights. It will also save you money on headache medication.

3.      Protect Your Relationships. In her book, “The Top 5 Regrets of the Dying,” author Bronnie Ware shares what she learned from years working in palliative care. The number 2 regret was “I wish I hadn’t worked so hard,” and number 4 was, “I wish I had stayed in touch with my friends.” Do you know what didn’t make the list? “I wish I’d put more into my business.” Putting boundaries in place will strengthen your relationships.

These are just some of the benefits of setting boundaries in your business. Boundary setting is an essential skill for entrepreneurs and one that will serve you well for years to come.

Conclusion

Yes, it’s important to pour into your business. Treating your clients well is essential so they stay clients and refer new ones. What’s not necessary is forsaking your boundaries in an effort to please.

Are you ready to learn more about setting healthy boundaries in your business? I’m offering free Boundary Breakthrough calls. Book a breakthrough call today, and let’s chat.

About Sheryl Green

Sheryl Green is a Mental Health speaker, author, and the “How to Say No” Expert. She works with individuals and organizations to establish healthy boundaries to improve relationships, communication, and well-being. Her mission is to make the world a better place… one boundary at a time. Learn more about her entertaining and illuminating programs or contact her at 702.885.4309.

Get her How to Say No cheat sheet.