How You Can Take Care of Your Relationships as a Business Owner

By Anne Shaw
The Hartford Small Biz Ahead | Originally published: March 29, 2023
Updated: August 15, 2023

While preparing yourself for the challenges of launching a new business, you may be thinking about the long hours and hard work ahead. But don’t forget to consider how your business will affect those around you.

Just like a new baby, your new business will require a lot of time and attention. This can divert your focus away from your loved ones: Unfortunately, entrepreneurs are more likely to get divorced than other groups, and many report losing friendships. But that doesn’t have to be your story.

Creating a plan to care for your most important relationships—especially during the stressful startup stage of your business—can help keep them strong. With dedication, you’ll create good habits that carry you and your loved ones through every phase of owning and running a business.

Common Sacrifices Made by Families and Friends of Business Owners

Business owners make many sacrifices, especially in the early years—and so do their friends and families.

While you invest money and put in long hours while starting up your business, your loved ones may:

• Pick up your slack on the home front.
• Deal with a strict budget and potentially higher debt.
• Spend less quality time with you.
• Suffer canceled plans so you can make time for business priorities.
• Delay milestones like buying a home or having children.
• Postpone vacations with you.

As noted by Meg Cadoux Hirshberg, author of For Better or For Work: A Survival Guide for Entrepreneurs and Their Families and wife of Stonyfield Farm founder Gary Hirshberg, when you start a business, you never do it alone. Your family will surely get drawn in—somehow, someway.

10 Ways to Strengthen Your Relationships as a Small Business Owner

Close relationships nurture long-term health and happiness. But as a small business owner, you’ll inevitably experience times when your work-life balance tips toward work. When that happens, it’s essential to communicate openly with your loved ones and be mindful about how you spend the quality time you do have.

Here are 10 ways to protect and strengthen the relationships you care about most, so you can enjoy them for years to come.

1. Designate time to spend together. Spontaneity may become a stranger, at least for a while. Schedule quality time to make sure it happens at times that work for everyone, so your family doesn’t feel they must constantly bow down to your schedule. Choose certain days of the week or specific times of each day to regularly connect. Your loved ones will appreciate knowing when they can expect to see you—plus, they may be your biggest stress relievers! Just make sure to be mentally present, giving them your full attention during these times.

2. Listen, even when their feedback isn’t fun to hear. Your family may have questions and complaints as you start your business. If you expect them to deal with their concerns alone, then you leave yourself out of the solution and you may give them the impression that you don’t care. Address their worries with patience. Sometimes they may simply need to vent, so make them feel heard with a supportive listening ear.

3. Give your partner time to themselves. If you have kids, chances are your partner is doing double duty. Remember that they have needs and help them recharge. Make sure your family calendar includes solo time for your partner…[MORE]

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To read the entire article by Anne Shaw at The Hartford Small Biz Ahead website, visit: How You Can Take Care of Your Relationships as a Business Owner