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CHAPTER 9 Separate Home & Business

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Lord Chesterfield (1773-1894) said, "Few people do business well who do nothing else." This is very good advice!

TRUISM 18
Effective and successful entrepreneurs do not
become consumed by the business.

If your ONLY activity is your business, it is likely your family and social life will suffer. We all know people who are divorced today because of problems resulting directly from the pressures of starting and operating a business. Don't let this happen to you. This chapter will provide some guidance to help you keep some separation between your home and social life and your business enterprise.

What the quotation above tells us is that you are likely to lose some of the very qualities that will make you a business success if you don't remain well rounded in other aspects of your life. It should be clear to you by now that you will be spending a lot of time with your business but it is imperative that you also set aside time for family, friends, and yourself. Without this relief you are likely to burn-out long before you attain the success you want.

You will need the support of your friends and family and you may not get that support if you alienate everyone by not being sociable or not making time for them. By your very entre-preneurial nature, you are driven to be a success. But if you're not careful, and by your actions you lose those individuals who give real meaning to your life, you'll find your business success very hollow indeed!

TRUISM 19
Stay focused on your objectives but also strive to stay
balanced lest you lose friends and family.

Here are a few specific suggestions for ensuring a successful marriage between your business and home life. You will probably be able to add to this list but the items included are those that have worked for others.

• Plan for the future but live in the present. Don't let the good times pass you by.
• Maintain a separate work area in your home for business activities. Use that area ONLY for business related activities.
• Keep your hobby(s) alive. Your hobby can be an excellent source of relaxation.
• Maintain some sort of physical activity. Working out is a wonderful way to reduce tension and clear your mind. (Don't forget to check with your doctor if you have not been active in the last few years.)
• Even if you have a home-based business, maintain separate personal and business bank accounts.
• When socializing, refrain from talking about business-related topics unless asked by others.
• Keep your spouse informed about your business activities but don't make it the only topic of discussion.
• Although you will be putting in long hours with your business, set aside regular time for family activities. (If you fail to do this you may not keep your family!)

SUMMARY

Remember that problems with family and friends can spell disaster for your business. Be sensitive to their needs as well as your own. Stay involved in activities other than your business to the extent possible.