All in the Family

Many business owners start their business in pursuit of a better work/life balance. Why work for someone else when you can have the flexibility to set your own schedule and even work location? Yet, balancing family with work and life adds a layer of complexity.

Should you incorporate your life into your business?

The answer is a resounding yes! The days of keeping work and life separate are over. It is now the era of: do what works best for you. Finding balance between everything drives our success.

And if keeping your work and life separate works best for you, then by all means, do it! No judgment here.

How should you incorporate your family into your business?

An attorney includes in her Out of Office autoresponder if she is doing something with her sons. It will say something like, “It is Spring Break and I am on vacation with my boys. I will not be checking email until XXX.”

A realtor takes her baby with her to open houses and home viewings.

A Freedom Maker schedules calls during nap time and hired a nanny for certain days.

An insurance agent uses her Freedom Maker to collate all the family’s calendars to make sure appointments and events, such as recitals and games, are not missed.

Build your schedule around your priorities

In another blog, we discussed how to include everything in one calendar.

A digital media consultant had moved to a new area. While networking, she discovered most business owners seemed to prefer to meet over happy hour yet she preferred morning coffee meetings, which was the norm where she had moved from. She wondered if she needed to change her preference, even if it made her uncomfortable. I advised her, “if you were a parent who picked up your kids from school, this would not even be a question. You would be unavailable for happy hour, period. Just because you have no external situations determining your priorities does not mean your priorities have less value.”

Make the best of two worlds

I once attended a tax planning webinar where the accountant shared tips about why and how to employ your kids. Since we are not in the tax business, I will refrain from sharing those tips here. However, I do recommend speaking with a CPA who can work with you on employing your family correctly.

They will learn about entrepreneurship

You can set up employer benefits for your kids, such as tuition assistance, 401(k), etc

And reduce your tax obligation

However you choose to incorporate your life into your business, own it. Do it with pride, with conviction, no shame. You will be surprised how many other business owners you inspire to incorporate their lives into their business!