Life changes. Sometimes for the better. Sometimes for the worse. Managing a business is no small task even when things are even-keeled, let alone when a wrench is thrown into the mix.
Balancing your personal life with your business is a difficult thing. So many who are profitable in this industry are successful because of their unrelenting dedication to their company and customers. Often that requires more time spent in the office or the field and less time at home.
My wife and I recently had a major life change in the form of a 7-pound, 1-ounce baby girl. The immediate changes in our lives were eye-opening. The lifestyle we knew only a few months ago is gone, and with its departure comes changes in our priorities and perspective. We are enjoying the ride a great deal, but it got me thinking: How do business owners, who have so much on their plate already, handle significant changes in their lives like this? So I asked one.
Brian Koski, a recent member of NOWRA’s board, featured in this month’s Snapshot, joined the industry at a young age and has owned his current company for about 12 years. During that time, he and his wife have had three children, and experienced the changes in life that naturally happen over time.
Accept it
Changes like starting a family are brought about by choice, which makes them easier to plan for than unexpected health issues or family matters. But even so, Koski thinks embracing the idea of change is half the battle.
“The longer you resist the reality that maybe you need to make some changes, the more painful it’s going to be,” he says.
Along with embracing the situation, make sure you are being truthful to yourself and those around you about what you can handle. “You need to align your expectations with what the reality is at the given time,” he says. “For me, the reality is, as we have more kids, there’s just more need at home, so it’s easy to get frustrated when I have a lot going on at home and work is intense. I just need to make choices on what’s most important. And if I decide that family is most important and I need to devote more time and energy to that, that means I need to work on dropping off some of my responsibilities at work that enable me to do that.
“The earlier you recognize and embrace the fact that things might need to be different, like maybe you need to hire somebody or whatever it is, the easier that transition is going to be.”
Prep and perspective
Part of accepting your new fate, and preparing for it, is recognizing your true role.
“One realization I had in the last couple years is that being an owner is separate from working in the business,” he says. “For a long time my identity was built around being an owner and operator, but the decisions I make are different as an owner than even the president or leader of the company.”
“If you look at it from purely a business ownership perspective, you’re looking for a sustainable and predictable business that is going to produce a return on investment,” Koski says. “And how do you do that? You need to have a really good team.”
That’s important to establish early because setting yourself with a good team is what Koski says gets you through the tough times. “If it’s totally reliant on one person and something happens to them, the business is over.”
Now, if you’re the star of a one-person show in your business, the same advice can apply to you, you may just need to think outside the company. A great insurance policy is to train a trusted friend or family member to answer the phones and manage the bare minimum to sustain business if you need to step away for a period of time. Someone informing customers that you are away from work for a little while will go a long way compared to unanswered phone calls, emails and voicemails.
Putting it all together
Having your bases covered for the times you need to be absent provides stability and the option for owners to sit back and take a breather when needed, too.
“I like to think of business in seasons. There are ups and downs and there are periods of time that it takes everything you have, and then there are times if you do your job right when handling change and issues that aren’t as intense, and you can pull the reins back a little bit.”
Whether it’s vacation, maternity or paternity leave, increased family obligations or an unexpected health issue, building a good team, establishing a healthy business early and having the right attitude and mentality paves the way for less stressful leave.
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