Mike Giannulis highlights the effect of business on the personal life of the proprietor
For many evolving entrepreneurs, it is a dream to leave aside the cutting throat competition in business. However, being self-employed is a very grueling task, especially if you are not well prepared. Besides, the success or failure of your business getting involved in a trade impacts your personal life.
Here are a few implications your business may have on your health and happiness
It plays havoc with your relationship, says Mike Giannulis
Whether you are single or married, self-employment can make your relationship with your near and dear ones get stressful. An individual who does not have a partner can be so committed to his work that he may not take time for friendships and relationships.
For those who are already married, their business can make their relationship strenuous where they do not have time for the partners. Running a business can be stressful. Hence, the pressure of work can negatively impact your relationship with your partner. A bad day at work and the emotional fatigue one goes through while handling a business can make their partner feel alienated in their own house. Women who are working may find encumbrance to play their role as wives, mothers, and entrepreneurs.
Long hours of work can be daunting
A proprietorship business requires commitment and long hours of duty. If you are a novice in your business, you may not have a lot of capital to employ many workers. Your workplace will demand a lot of time from you. Despite planning your work well, you will still find yourself working for 200 hours every week. Lack of capital puts the entire burden on you, and you will realize that you may not have enough time for yourself and others. Sometimes entrepreneurs are working for more than 12 hours a day, leaving very little time for rest. A businessman needs to balance their time for work and other things. Take time to de-stress yourself lest the mental fatigue will leave you, making poor decisions to hurt your temperament.
When you are working for a salary, there is no hassle regarding the funds since your payment is sure to arrive by the end of the month, but running a business can be exhilarating. You do not have any financial security. Although a job can make you dependable, yet it gives you a stable source of income. Whereas in a business, there is uncertainty, and you are always anxious about losing all the money. Your apprehensiveness can magnify your stress at home and increase disagreements with your near and dear ones. Buying and selling goods is excess baggage that you have to carry. However, it does not mean that it will always be beautiful in unfortunate circumstances if you are running a business. It may put you in an overwhelming situation, especially if you are under debts, says Michael Giannulis.
Looking at the brighter side
Even though you may have a stressful time initially, yet as your company will grow, it will be easy for you and your family to adhere to this routine and shorten your working hours.