The traditional paradigm for the life cycle of a business calls for the business owner to constantly strive to grow the business. Bigger (and busier) is supposed to equate to more profits, therefore being "better".
But that's not necessarily so. For small business owners, the bottom line is not the only measurement of success, as running a successful small business is not the only important feature of our lives. We need to achieve work life balance to have a true quality of life.
When you're running a successful small business, the business seems to have a life of its own, and it's too easy to get completely enmeshed in its momentum - especially as so many successful small business owners are determined, driven types who are used to constantly striving to do more and have more.
But paradoxically, when it comes to quality of life, having more can mean doing less, business-wise. Our businesses do not have to be large to be successful and dedicating ourselves to constant business growth can be extremely detrimental to our personal lives. If any of the following apply to you, it's time to take a serious look at downsizing your business.
1) You consistently work more than five days a week.
2) You consistently work more than 35 hours a week.
3) The last time you and your entire family were engaged in an activity together was more than four days ago.
4) The last time you personally had any free time to just do what you pleased with was more than four days ago.
5) You usually work weekends.
6) The last time you and your spouse had an actual conversation was more than two days ago.
7) The last time you took a vacation away from your business (even just for a weekend) was more than three months ago.
People do or don't do these things for all kinds of reasons, but the point is, if your business activities are dominating your life, you're shortchanging yourself - and the other people that matter to you.
People downsize their homes all the time, moving to a smaller, more manageable version. Maybe it's time to downsize your business to improve your quality of life. My article, "How To Downsize Your Business", suggests some practical strategies to help you do this.
