Work–life balance for the consummate entrepreneur

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Entrepreneurship is as much about making personal sacrifices during the starting point of the enterprise as it is about raking in money and being one’s own boss. The public is slowly becoming aware of this, romanticizing the image of the haggard young entrepreneur who lives off instant ramen and works multiple shifts in a slapdash effort to bring his vision into reality.

And while a little sacrifice can be expected from the new entrepreneur from time to time, this kind of romanticized belt tightening is neither an attractive nor a sustainable way of running a business. Poor diets and inadequate rest can lead to health issues that will slow down the entrepreneur, and the stress from this lifestyle will affect his decision-making process. For the person who is both the owner and primary worker of the enterprise, the decline in work quality associated with exhaustion may put off customers.

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Moreover, for many entrepreneurs who build businesses long after they have already settled down with a family, committing a significant portion of time or money to the business is out of the question.

The realities of determining the amount of time and money that can be diverted to a new enterprise should be considered when setting up the budgets and schedules. It is recommended that new business owners allocate at least a year’s worth of living expenses to their budgets.

Of course, making the most of the budgets dedicated to both living and enterprise expenses should also be a high priority for entrepreneurs. There are more ways to satisfy basic needs well, and the right selections can help stretch out budgets considerably without cutting corners.