Whenever I mention that I am an entrepreneur and that I work from home, the most common reaction is the envy of the flexibility and freedom I must be enjoying. I usually debunk that myth right away. An interesting study done just a few years ago actually points to the exact opposite. According to Strategis:
The evidence is strong that the self-employed work longer hours than employees; this has been the case since at least 1987. The self-employed worked 40.8 hours per week in 2003 compared with 35.5 hours for employees, on average. Even more striking is the large difference in those who usually worked over 50 hours per week in 2003: 33% of self-employed persons worked over 50 hours compared with only 5 percent of employees.
There are scary statistics out there to warn potential entrepreneurs - especially the fact that according to the SBA, 50% of small businesses fail in the first year, and 95% fail in the first 5 years. Common reasons include not enough capital, lack of knowledge, poor planning and insufficient cash flow.
I sometimes wonder about my second business, which was once a thriving graphic design and small business marketing firm run out of my basement.
I started it working 20-30 hours a week. Then the economy started taking a dive in 2001-2002… and to make up for lost clients, I started taking on more jobs that paid less. So I edged up to 40 hours a week.
Soon thereafter, I was easily topping that number. Other factors started coming into play, and I started liking my work less and less. Yet to pay the bills, I had to work more and more.
I remember hitting a breaking point in late 2003. As a designer I had enjoyed a life-long appreciation of fine art. I remember one day looking at a painting, and having to look away. I was so burned out on design, layout, and illustration that I couldn’t even enjoy looking at someone else’s creations anymore.
I think I knew at that point that my business wouldn’t be around much longer. And that’s when I realized that burnout is just as lethal to your business as lack of cash or knowledge.
Questions I have asked myself include wondering if I had managed my time better, would I still have experienced such a high level of burnout? And if I hadn’t expereinced that burnout, where would I be today?
Honestly, I’m grateful every day for the experience. Not only has it led me to my current business, but it also taught me the early warning signs of entrepreneurial burnout. I’m fond of saying that I believe that sometimes the only way to know how to balance work and life is to know when you’re unbalanced. In retrospect, there were so many warning signs in my freelance business that I should have listened to - I should have taken more time for myself, and spent way less time in front of that dang computer, and when that little voice gave me warnings, I sure should have heeded their call.
Today, even though I still can push 50+ hour weeks at times, I’m so much more balanced.
And how do I pull that off?
Tune in next time for Part II - 20 Work-Life Balance Tips for the Overworked Entrepreneur.
This entry was posted on Friday, August 31st, 2007 at 4:25 pm and is filed under Entrepreneurship. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.9 Responses to “The Business Case for Work-Life Balance :: Part I”
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August 31st, 2007 at 6:48 pm
“And if I hadn’t experienced that burnout, where would I be today?”
I’ve asked myself that question before too since I seriously flamed out a few years ago. I would like to think that if I hadn’t flamed out I’d be doing great things, a leader my field, and so on. But the truth of the matter is that I’d still probably be burnt out, doing mediocre work because of it, and never really realize my potential. I’d be like everyone else. Average.
When I flamed out I was miserable — I hated yesterday, today, and I felt like I had no future. A lot of people never leave that place of misery, looking back at what might have been.
It has taken a lot of time to realize it but flaming out is one of the best things that ever happened to me. Maybe it wasn’t so much the flaming out but the lessons learned in picking myself back up. And all the strength and character gained.(Fill in a bunch more positives yourself since its Friday night and I need to go out and have fun.) And a greater appreciation for today.
Today I know so much more about myself from recovering from burnout and I can use everything I gained to build the future I want for myself. That future looks a lot different than it did a few years ago, so much more wide open and full of potential beyond my dreams.
How to recover from burn out? Invest in yourself. This is something you can’t half ass. Either fully commit to investing in yourself or forget it. Anything less than fully committing to investing in yourself is a waste of time and energy. And when you do invest, don’t forget to be patient…sometimes it takes a while for those dividends mature.
August 31st, 2007 at 8:05 pm
There is something to be said about organization - it really is everything. There is an incredible improvment in my psyche on the days that I have everything organized, a neat house, a clean desk, and to do lists ready and waiting. On the days where chaos reigns - that is when burnout sets in.
September 1st, 2007 at 9:54 am
The most common red flag and indicator of burnout I see (when people in crisis come to me for coaching) is when one’s business and workload causes the unintentional neglect of the other vital areas of your life like your family, relationships and your health.
Balance is good, harmony is better. Does your business add to and compliment the other areas of your life or does it detract from them? Sure we all have those busy times but over the course of time, does it take over and swallow the rest of your life?
My definition of Success has more to do with joy than it does money. When the joy is there and all areas are living in harmony, that is true wealth. The money always follows when you live day to day in a joyful state.
Most entrepreneurs spend 99% of their time designing and planning their business and 1% of their time designing the rest of their life. And it’s easy to turn it around once you become conscious of that.
So glad you’re talking about this Wendy.
Live Your Dreams,
Jill Koenig
Author, Coach and Motivational Speaker
http://www.GoalGuru.com
September 3rd, 2007 at 8:31 am
Some really good points have been made. I am about to move my work out of my house in an effort to keep my sanity. The thought of the new overhead expenses makes me work harder (or worry harder) but I think it will be worth not seeing my work all around me in the evenings.
It’s also the right time. I can’t plan to grow my business if it stays in the house.
All I need to do now is figure out how to keep the afternoon power nap.
September 5th, 2007 at 2:36 pm
When you follow your passion, owning a business can be just like raising kids: the toughest job you’ll ever love!
Burnout can come when you’ve lost that passion but as you experienced, it often opens the door to your NEXT level.
Can’t wait to read more!
Julie Lenzer Kirk
Author, “The ParentPreneur Edge: What Parenting Teaches About Building a Successful Business”
September 6th, 2007 at 11:45 am
[…] Again, working hard is not something you should be doing all of the time - not only is it bad for your heath, but in my experience lack of work-life balance may actually put you out of business. […]
September 28th, 2007 at 11:55 am
[…] comfort zone, rely on the advice and support of others, you’ll have to stay focused when all you want is a break, and you’ll have to risk a lot in order to get to the next […]
October 13th, 2007 at 6:57 am
[…] But as Wendy H pointed out earlier, there tends to be some romanticism about working at home - and I think we all know full well that sometimes running a home business isn’t all it’s cracked up to be. In fact, I’ll reiterate that if you can’t balance work and home life well and keep yourself motivated and productive, working at home can put you out of business. […]
March 30th, 2008 at 11:06 pm
[…] Piercall an entrepreneur and mom wrote a two-part article about balance work and home life In the first half of her article she talks about peoples misunderstanding of the time spent working […]