Why Entrepreneurs Must Have A Great Work-Life Balance

The issue of work-life balance has been a very topical one in the discussions that centre on entrepreneurship. If you ask many modern entrepreneurs if they understand the essence of having a great life outside work, you will realize that there is a real struggle to find balance in life’s core areas. Work seems to be the only driver of success in today’s world. And many entrepreneurs are focusing too much on this area at the detriment of other important areas.

During a business consulting session, I asked a young entrepreneur to rate, on a scale of 1-10, how much time he spends with his family and friends. He sighed and said he doesn’t really spend quality time with his family since he started his new business. And this has been creating series of problems in his family.

Today, the quest for modern entrepreneurs to succeed has been on the rise. As the business environment is drastically changing, so the drive to succeed financially and catch up with modern success trends is drastically increasing. And modern entrepreneurs are frequently caught in this web. The resultant effect of this rush is the extreme lack of work-life balance.

In life, there are four cardinal areas that are of extreme importance for everyone. These four areas of life include the relationship & recreational area, the work area, the spiritual area and the academic area. When these core areas are in harmony, you will find that your life will enjoy a high level of balance that will increase your success rate. And smart entrepreneurs always find the time to create synergy around these core areas.

To have a successful business life, the relationship area which includes family and friends must not suffer. Simple things like spending quality time with friends and family must not be taken for granted and relegated to the background of irrelevance. Your spiritual area too must be in sync. In life, there is a void that only a God factor can fill. And this ‘God’ can mean different things to different people. Everyone needs a spiritual guide to influence, direct and give a sense of spiritual fortification and purpose. Your academic area must also be continuously updated; you have to keep learning and unlearning. No entrepreneur can succeed today without constant improvement for the proper edification of the mind. These four areas must be properly balanced for mental, emotional and organisational effectiveness.

To succeed, today’s entrepreneurs must find the time to create synergy in these cardinal areas of life. They must also encourage their employees to strike balance in these areas.

Sometimes, it is great to shut the door of work and focus on other areas of life to create harmony. Life is not just about work. Other areas are also important. And true success doesn’t lie on having everything money can easily buy; it lies in having and appreciating both the financial and non- financial things of life. In fact, after all is said and done, the non-financials are considered more important.

The true richness of your business life is dependent on how well you manage other important areas. And, to get the best of your work life, you must structure your time effectively to accommodate other areas so you can achieve the kind of success that cannot be measured only in financial terms.

Life is short. Make sure you make it colourful and worthwhile by finding quality time to live, love and laugh.


is a thinker, content developer and business development strategist. He is the Principal of Richard & Malcolm Consulting; a business development company. Richard enjoys working with entrepreneurs and leaders pursuing transformational change for their organizations. He is the author of two books – The RICH Theory and Advance. Connect with him on twitter @RichardChilee

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