I am sure there are so many like me start businesses who want to do well and earn a good/reasonable living.
I am not that different to other start up businesses in not taking a break and over doing it. Here I am again on AW and at the same time doing some work around my fees levels/my website.
I know it is very important to take breaks and get away from work. You become more productive and a good all rounded person. They are some who have managed with some difficulty to achieve some balance between work and play. I admire these people. I have failed on this aspect and this is nothing to boast about.
Again like most business people I just to want to work all the time. I do not want to take a break, even though the body says enough! At the same time I say to myself life is too short go out and enjoy. Does not make any difference.
How is it going for you regardless of whether you are a start up business or not. Have you acheived a balance. How did you do this?
Replies (20)
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Don't make the mistake others have made.
Work to live - don't live to work.
Two years ago, out of the blue, I had a heart attack. I was fit, I raced motor bikes, I still played the odd game of football, I'd always been fit and was exactly the same weight I was when I was in the army. My cholestrol wasn't high. There were no warning signs, and after surviving it I naturally asked the cardiologist the question I suppose many patients ask - why me?
His response surprised me, he said it was 10% due to the fact I was getting older, and 90% due to stress.
So, the lesson is that whatever they say about diet, smoking etc - stress can kill you too.
How to relax? Try a hobby, buy a camera and take up photography, or play golf, if you're near the sea take up sailing (which has to be the most relaxing pastime there is - or maybe I'm biased). Strangly despite the obvious adrenelin and occasional injuries I used to find racing relaxing because when you're on a race circuit the last thing you think about is some idiot's balance sheet.
What you need to find is something you enjoy doing, something you would rather do than work, and which involves some element of excercise - even if its only walking about looking for a decent photgraph to take.
And learn to relax every day - when you're working take regular breaks, get outside for 10 minutes, a walk to a nearby newsagents to buy a newspaper, just get away for a few minutes.
Sharpen the saw
Try reading Stephen Coveys seven habit (the chapter on sharpening the saw particlaury relevent) which will not only give you some ideas but re-iterate the importance of giving your mind and body the rest that they are asking for.
Try going for walks, joining a gymn, getting a hobby, spending more time with friends and family, anything that completely takes your mind off of work and your business.
Covey goes so far as saying that the time invested in these ways should be incorporated into the business, as you are protecting the greatest asset that the business has - YOU!
Complete cut off includes abstinence from AWEB from time to time!
* Most of the above is easier said than done, I am equally as guilty as you are of not switching off, but like you have decided to do something about it. Swimming seems to be working well, but whatever works for you*
Stress
c-d, our posts crossed so much of what I have just written is pretty much what you said.
On the subject of stress, I wonder how high the profession ranks on the stress table? Got to be up there with doctors, teachers etc?
And surely, stress levels will have got worse since the downturn and the effect on accountants businesses?
I myself thive on a bit of stress though there is a thin line between positive and negative stress.
Do people need a reminder (such as you had) that at the end of the day there are more important things in life than the sort of issues we spend time worrying about?
Take a break any time you want
I'm here doing a little bit of tidying up on my database before turning on the box and joining the 58 million UK residents wanting to see the mighty Crawley Town beat Man Utd.
I will find that very relaxing indeed.
FirstTab
Like you, I wish that I had left my well paid job years before I did, but what's done is done, it's a sunk cost!
You can shape your future but you can't change your past. Anyway, what you gained in employment probably stood you in good stead to start your business, if you made the break earlier it may not have been the right time.
You haven't left anything too late - don't give yourself that excuse.
Look at it as a lesson learned - once you have made a firm decision then make it happen!
Why the rush?
At this stage of my life I am playing catch up and at the same time I know I will not catch up. You cannot catch up lost years.
Posted by FirstTab on Sat, 19/02/2011 - 15:25
Why the rush?
If you're only ambition is to become rich and employ lots of people - you will fail.
Set achievable targets - things that can be achieved realistically in 1 or 2 years. Step at a time. And every time you achieve one of your goals, reward yourself.
Clear off for 2 weeks holiday somewhere hot, or buy that new car you've always wanted, or whatever floats your boat.
Its no different to when I was racing. I raced superbikes and sometimes I'd be against the worlds best, full time professionals with factory sponsored bikes and pots of money. Yes I wanted to win the race, but realistically and barring miracles for a part time amateur that was not going to happen, so, I would realistically look at the field and see where i thought I should finish. If, say, that was 12th, then I would set myself a goal for that race of finishing in the top ten - and if I did then I was every bit as happy as if I'd won a race against "ordinary" opposition. Supebikes are usually run as two races on the same day, so wherever I finished in race one, I'd aim to finish higher in race two, even if it was only one place higher. By setting realistic goals you will be surprised what you can achieve. And yes, I did win my fair share of races, but it was about enjoyment as much as about winning.
Its never too late
First tab, i used to work all hours few year ago and i enjoyed it. The time i called myself to reality was when i lost my mum 2 years ago and then realise life is not about working but finding a balance between work and life. Couldntt agree more with C_D comments. Go out and treat yourself to something as a reward, go away on holiday etc. I have always wanted an Audi Q7 and i woke up one day last year and said to myself, " i deserve a reward for my hard work and something to make me happy" yes you guessed it, i went out and got myself the car of my dream. I play golf at least once a week and i make sure this is done during the week. This way i take a break away from work. i spend my weekends with friends and families and for this i am more productive and feel less stressed. Life is too short so enjoy it while you can.
First Tab
I think one of the problems you have is wanting to make your practice perfect. There's always things you can do to improve it and if you try to improve your practice all the time and put it ahead of working on client work you will get stressed. If you turn it round and work at doing client work first and quickly then there is less stress as long as you are improving your practice without working to deadlines. I feel less guilty doing non-work if I could be doing practice improvement work than if I could be doing client work.
Unless I am rushing against a deadline I will take any opportunity to do non-work activities. Other times I will get up early and/or work late. If I feel like a lay down during the day I will go to bed and sleep for an hour or so. I will go to the bank or walk to the shops during the day.
You have found that working from an office makes it less easy to be flexible. It can't help with having an intern either - there must be more pressure to ensure they are productive or you are around to help them.
Don't try to "catch up". There's no finishing line - well there is but it's not the same!
Obsession
Actually FT, I think your drive for "perfection" could (and maybe already has) become an obsession, which is unhealthy.
Work should be something you have to do, not something you live to do. The "test" is quite simple, if you won a few £million on the lottery would you immediately close your business and spend you life pursuing more pleasurable pastimes, or would you continue to work? If the answer is that you would continue to work, then you have a problem.
Not at that stage
I don't think FT is at the stage where he would continue to work in your scenario but I think right now he thinks he can get more benefit out of his time by working.
Riches
I don't think FT is at the stage where he would continue to work in your scenario but I think right now he thinks he can get more benefit out of his time by working.
Posted by petersaxton on Sun, 20/02/2011 - 14:43
Actually I had to face that scenario this weekend. Having checked a Euromillions ticket I bought on impulse on Friday I have discovered that I have won £15. I don't think it will change my life, but I might just treat myself to an extra cup of tea whilst waiting for the Arsenal match to start on TV :)
Post script -
After watching Leyton Orient hold Arsenal to a draw - I'm blowing the rest of my winning - i need a drink (or three) :(
pyschological profiling of AWeb members
we all probably have our opinions of other members on here
i was thinking of asking AW to devise a pyschological check list so that other members could comment on each other and we could then reply with our comments
its a shocking idea i know, but First Tab would be high on my list - in their case it was the fact that they had an intern which i thought might have confirmed my thoughts about them , most of them good mind you...
and yes do take a break , working at high intensity wears one out i am told!
Been there, wasted a holiday due to overwork
When I first set up my freelance book keeping business, I had a very demanding client, was at his premises 5 days a week, sorting out the previous book keepers mess. I had booked a holiday before setting up the business (which I set up with my redundancy from previous job), and had reduced it from 2 weeks to 1, due to the money worry.
However when I got to Turkey, I promptly spent the first 4 days of it sleeping on a sun lounger, due to the stress and amount ot work I'd been doing.
That was the warning signal for me, and had the boyfriend worried as well, as I'm the want to visit everything type of holiday person.
I think the most important thing is to set aside some time each working day for me time, when work is put aside and you do something just for you.
At the moment I am on an enforced work break, due to not being able to find anything in the place I'm living, I'm badly missing work and would love to get back to it.
Sack some clients.
Unless you're really lucky, you'll have some who are a real drain. They'll probably tick 3 boxes, too, I've found - poor records, poor attitutude (especially no appreciation for your efforts), and poor payers. You will feel so very much better for this. Any hit you suffer in fee income will be far outweighed by the relief of some stress and the lightening of your spirit.
This tip was from an accountant in practice giving a course I attended some years back early in my sole practitioner career. It took me a long while to dare to do it, but boy was it worth it.
10 years and nearly there....
I started my practice 10 years ago on a shoestring. I took all and any clients on that came my way - usual thing - low prices to get the work etc. Practice grow, staff and subbies taken on, office rented etc. I found the growth quite a buzz and would spend evenings and weekends working thinking I was enjoying it. Then the stress kicked in. Stress of trying to control staff, stress of non payers, stress of demanding clients, etc etc. Suddenly it wasn't enjoyable anymore. Then I decided something had to change. I decided to scale it right down again. Staff and subbies went, moved to smaller office, stopped advertising, put prices up, sacked a few clients. It was a weight lifted off my shoulders. Despite far fewer clients, I was making more money and working fewer hours. Every year since, I've taken stock and put prices up again and sacked a few more clients. Up went my happiness, health and profits. Having got rid of the dross, I've now sold a small quality block of fees as there were no dross clients left to sack. Now, I'm actually enjoying work again - just me - just a few dozen clients - occasional new clients from referrals - and what's more, profits are up yet again. The thing is that if you get a nice portfolio of clients you like working for, they tend to be happier as well, more amenable to paying a decent rate and more likely to refer other quality clients. It's taken 10 years to get to where I am now, but I can see that I can stay where I am for another 10-20 years towards retirement and that's a nice feeling. Some people are suited to a bigger practice, employees, growth etc - it's taken me 10 years to discover that I'm not one of them.
10 years and nearly there....
I started my practice 10 years ago on a shoestring. I took all and any clients on that came my way - usual thing - low prices to get the work etc. Practice grow, staff and subbies taken on, office rented etc. I found the growth quite a buzz and would spend evenings and weekends working thinking I was enjoying it. Then the stress kicked in. Stress of trying to control staff, stress of non payers, stress of demanding clients, etc etc. Suddenly it wasn't enjoyable anymore. Then I decided something had to change. I decided to scale it right down again. Staff and subbies went, moved to smaller office, stopped advertising, put prices up, sacked a few clients. It was a weight lifted off my shoulders. Despite far fewer clients, I was making more money and working fewer hours. Every year since, I've taken stock and put prices up again and sacked a few more clients. Up went my happiness, health and profits. Having got rid of the dross, I've now sold a small quality block of fees as there were no dross clients left to sack. Now, I'm actually enjoying work again - just me - just a few dozen clients - occasional new clients from referrals - and what's more, profits are up yet again. The thing is that if you get a nice portfolio of clients you like working for, they tend to be happier as well, more amenable to paying a decent rate and more likely to refer other quality clients. It's taken 10 years to get to where I am now, but I can see that I can stay where I am for another 10-20 years towards retirement and that's a nice feeling. Some people are suited to a bigger practice, employees, growth etc - it's taken me 10 years to discover that I'm not one of them.
Spot on.
Some people are suited to a bigger practice, employees, growth etc - it's taken me 10 years to discover that I'm not one of them.
Posted by Ken Howard on Sat, 26/02/2011 - 08:54
You've found what makes YOU happy, and isn't that the whole point of setting up your own practice?
Some people lose sight of what they want, and fall for the idea that you must have the biggest offices with the most staff and you cant be really happy until you do. And of course there's always some salesman around willing to sell them some fool-proof way to attract more clients. What they dont say is that more clients equals more work, more stress, more liklihood of bad payers, etc etc.
For me the size of business was never an issue and wasnt something that stressed me. What I found stressed me was travelling into a city centre, sitting in traffic, and looking out of a window at other concrete monstrosities. For me the most important thing was living and working in the countryside, being able to look out of the window at fields & trees, driving to clients along country lanes, having dogs & cats wandering into the office, being able to step out of the office straight into a garden - these are the things that matter to me.
The secret, in my opinion, is to find out why you want to have your own practice, the real reason, not what you think it should be. Then aim for that. One thing I will say, anyone setting up in practice to "get rich quick" made one hell of a mistake (or listened to some phoney "guru" ). Having your own practice is not really a finincial decision - it's a lifestyle decision - so make sure you get it right.