Time to Relax?!? Why Entrepreneurial Couples Should Start Planning Their Summer Today

Summer is certainly coming up fast!  As I’m writing this newsletter today we are at 25 degrees on a sunny day in Waterloo Ontario.  

This fine weather has me thinking about the challenge of taking quality time off that is common for many entrepreneurial couples, especially those running smaller businesses.    

A Canadian Federation of Independent Business (CFIB) survey found that the average small business owner takes about two weeks of vacation per year.   For couples with all of their eggs in one basket when it comes to family income, one might assert that the fragile contents just might be dropped if a couple is too weary to carry it.

Here are some of the reasons couples owning small businesses are in the “2 weeks or less” time off scenario.

Responsibility - you want to make sure your team has time off, you feel responsible for them, and that taking time away means you wont be able to fulfil your employer obligations. 

No one competent to handle the business in your absence. If you are both away at the same time, there is no one in charge to take care of your business, so “getting away” isn’t an option. Therefore, you've agreed either not to take time off, or to take separate vacation time.

Passion and Commitment; you and your partner have a lot of fun together, love your work and your clients so much that feel taking time away feels like a compromise to your dedication.

Finances - you are in your early business years, and feel its necessary to constantly work and focus on your business. Or perhaps you recently lost a major client account and are in rebuild mode.

Momentum - you may feel that taking time away could slow down or stall your business growth. 

I’ve experienced all of these reasons in my couple owned businesses. Some of the causes were related to my own mindset and lack of experience at the time. Others were simply cold harsh reality, like when we lost a major client account.

If you're looking out the window on this sunny afternoon and thinking about wanting to carve more time off with your significant other this summer, here’s what I would recommend.

 Responsibility.  I highly recommend a reframing of responsibility. Over time, I learned that my number one responsibility was not to my clients nor my team, but in reality to “the company of me incorporated”. Meaning, if I wasn’t taking care of that asset properly, there would be no team, no clients, no business.  This was a big mindset shift, and took a lot of reinforcing over the years. The habit of being over responsible had been set at an early age so in my case it took some “undoing” and a lot of coaching.  My husband has always been completely onboard with supporting me in taking better care of my well being.  And, we regularly negotiate how to make sure he is also getting his batteries recharged. This is a hot topic for us at the moment, as a milestone birthday and a milestone anniversary come up within the next few months. 

While we are thinking about perspective, you might also contemplate that your team may actually want you to have time off, and would be happy to collaborate with you how to make that happen.   Ask for their ideas, suggestions, and input, and you might just be impressed with what they come up with!

Competency - I learned quite a few years ago that “the number one is the scariest number in business”. With only one person able to do any one task, the business is certainly at risk.  Something as simple as locking the office at night, left in the hands of only one person, might well mean that that individual leaving early for sick day may well mean an unsecured office that evening. Many years ago, this happened in our business. Thankfully, no one helped themselves to our assets that evening.

Documenting procedures and cross training can’t be spoken about often enough. I know, it’s not exciting or compelling, but there really are ways to make it less onerous.  

Assigning a key individual as team leader in your absence, to whom other employees present any challenges is also a way to make sure there is no need for you to check calls or emails while you are on vacation. If you do so, I recommend that the team leader should know how to reach you in an emergency situation - what we used to call “Fire, Flood, or Blood”

Passion

“So, what do you do when you’re not working?”

I’ve been in rooms of entrepreneurs where you could hear a pin drop when this was asked. Outside of business, there was not much in the way of interests, hobbies or activities.  

As much fun as we have in our businesses, if you find that all of your passion is going into your business, it might be time to consider  other creative outlets.  

Years ago, someone recommended to me that if a business owner is stuck with ideas, ask them what they used to do for fun as a youth. This is often a great question and conversation spark with your partner. 

Finances

Planning goes a long way - goals, budgets, and emergency funds can give a business a sense of security, leading to effective cash flow management. Whenever we feel a bit uncertain about finances, my husband goes into spreadsheet guru mode, and either unearths additional resources, or creates new possibilities. Then, we have discussions with our advisors.  Passive income is another way to create the income needed to create some vacation time on the calendar.

 Momentum

Ever heard of a hired horse trying to win a race? The odds are not very good. The same applies in business. Keeping momentum going when you are fatigued is going to be awfully difficult. In my experience, far better to take the time off, recharge, and then come back stronger and re-energized.  In our free time my spouse and I love to travel - it’s amazing some of the insights and ideas we get when we are exposed to other cultures and a change of scenery.    It really does spark our mojo and momentum.

I hope these tips make it easier for you to plan your next relaxation and recharge break.  

And, if you already have your  plan in place, give yourselves a high five. After all, this is coming to you late afternoon on a Friday anyway, so if you’re already celebrating a successful week in business, make it a double.  (High five that is – did I catch you  thinking about Happy Hour already?)

Before I sign off, if you haven’t already registered for Harmonious Hustle next Wednesday April 19, it’s time to hustle on over to sign up.

Anthea

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