For the vast majority of small business owners, their business is a priority. Why would you create the masterpiece that is your business if you’re not going to give it all your time and effort, right?
Meanwhile, there’s all this chatter about work-life balance. Talk about health issues, stress, marital conflicts and rethinking priorities. So, what’s it going to be? Your business, or your health?
In Episode 13 of The Digital Slice Podcast, I talk with attorney Joey Vitale about these issues. We discuss the importance of having your legal ducks in a row to separate yourself from your business from a legal standpoint. This can prevent some unnecessary stress down the road. From there, we talk about the importance of taking care of yourself so you’re actually around and able to run your business.
Why Love Yourself First?
What do you think will happen if you suddenly get sick and no one else can run your business like you do? As a small business owner, you tend to spend most of your time doing every little thing you can to ensure everything is running smoothly. You can forget about eating lunch altogether with so much going on every day. Sometimes going to the bathroom can be such a luxury. You tell yourself no one can do it like you do, so you end up doing almost everything yourself.
Even machines, however, have normal wear and tear. And, if you continue with your self-abusive lifestyle, you can really end up getting sick or getting confined in the hospital. If you don’t want that to happen and you want to be able to still run your company, your priority has to be to love yourself first and foremost. Listen to the podcast as Joey describes a personal experience to help put this in perspective for you.
You Are Not Your Company: Separation Is Essential
Say this to yourself until you are able to internalize it: I am not my company. I am separate from my business. Until you are able to understand your business and you are two separate entities, you won’t be able to take good care of each one efficiently and effectively. Know that taking care of your business stops where taking care of yourself starts and loving yourself is always first.
From a legal standpoint, separating yourself from your business is a kind of protection only dummies forego. Choosing the right form of business entity can be very beneficial for you. Knowing whether you should form an LLC, S Corp of other type of entity is the first step in protecting yourself should something go awry. Forming an entity is what separates you from your business from a legal standpoint.
Creating Your Support Team
The only way to live a little and laugh a little is when you are able to take a break from being a business owner and just be yourself. You can make this happen when you have a support team backing you.
It’s important to build a team of people you can trust while you’re trying to live a life. up at work and help you run your business while you try to get your life back. Hire the right people and trust them to help you grow your business. Train them so they can represent you with clients and make you proud of them. Organize the team to work together so the synergy becomes their power in moving your company in the right direction.
Of course, you will still be there to make sure you are on the right track. But this way, you know your limits because you are living primarily for yourself and your happiness and not just for your business. So, go ahead have a hobby, walk your dogs, and laugh like there’s no tomorrow. Make loving yourself your main business. And, be sure to listen to Episode 013 of The Digital Slice Podcast. If you like what you hear, I’d be honored if you’d leave a review on whatever podcast platform you listen on.