When you consider the technical issues faced by every business executive, balancing a checkbook is perhaps the simplest task. It’s taught in every high school Business 101 class. Although everyone says they know how to balance a checkbook, I’ll bet half of America does not know how to do it. Yeah, they might cheat a little and do it their own way, but they don’t really know how to balance a checkbook.
Now think of your professional life as a checkbook. Every motivational speaker attests to the need to find balance in your life; much like a checkbook. If you balance work, family, health and personal time, success is yours, so say the experts. So as your workday progresses through meetings, emails, report editing, resolving human resource issues, and paying bills, do you ever ask yourself how you became so out of balance?
Think about it. If you are a hard working business owner, eager to achieve the next success, are you doing so at the expense of your family? Do you take time for yourself or are you constantly succumbing to the needs of your employees, clients/customers, and partners/shareholders? Do you make time to keep physically fit, or do you feel guilty if you go for a run or head off to the gym? I began to realize that with everything in life, not only did I have to balance my financial checkbook, but I also needed to balance my social, family, health, and professional checkbooks as well. Understanding and addressing this balance is the first step in exiting your business.
For most business owners, an unbalanced checkbook is not unusual. It is the result of the daily grind of life. You know the process, the workweek starts and you commute to work, do your job, eat lunch, do your job some more, travel back home, eat dinner, read the paper, help the kids with their homework or cut the lawn, watch some TV, have a snack, and go to sleep. Day Two is a repeat of Day One, and so on, and so on. Next thing you know, it’s Friday. You blast through the weekend, and alas, it’s the start of another week. This entire process repeats at warp speed until one day you realize your business is on automatic pilot and you are ready to leave. No major accomplishments achieved; no dreams realized. This is an unbalanced life checkbook, but a checkbook nonetheless.
If this is you, maybe it’s time to go back to a Business 101 refresher course. It will help you and your business.