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Be a Lifepreneur: Taking Your (Financial) Pulse

To achieve both financial and personal success, you should run your business instead of letting it run you.

Running a Business?

It goes without saying that running a business is hard work. Running a successful business requires immense dedication, heavy time investment, and precious energy. Seeking out the right path in an ever-changing market also comes with substantial risk, which strains the health of passionate entrepreneurs like you, who pour your hearts and souls into your business.

This often means working long days with little spare time for the essentials of life: namely nutrition, rest, and effective financial management. Left unmanaged, this can spiral out of control and lead to burnout, a state of high physical and mental exhaustion that can stop you from doing your best work.

Be a Lifepreneur

To achieve both financial and personal success, you should run your business instead of letting it run you. Find out through Lifepreneur about issues common to business owners and pick up various tips, suggestions and life hacks for running a successful business without compromising your personal life.

This volume places emphasis on managing your financial and physical health as a business owner so that you can stay healthy while achieving your goals in the long run.

Mind, Body and Money

Let us start with a fundamental yet critical aspect of the body: the mind. As a business owner, your mind is your most important tool for problem-solving, creating new ideas, and other essential business processes.

The mind functions best when the body is healthy and well-rested. In a poorly-rested body, stress can manifest physically and lead to serious health issues like high blood pressure, headaches, and disrupted sleep, all of which can drain you to the point where you are unable to run your business.

The mind functions best when the body is healthy and well-rested.

Manage your time and energy

To ensure better productivity, you should delegate your tasks whenever possible, especially the routine and menial ones. Even if you are a multi-talented business owner, your time would be better spent on directing the business.

For example, in a scenario where you need to create a 3D model for your product, instead of spending time to learn the skills from scratch, you could engage a freelancer to do it. With the hours saved, you could push forward business meetings and close deals faster.

Streamline your money management

Managing your cashflow and assets can be a nightmare if you depend on your memory. It is easy to forget important details when you have your eyes set on bigger goals and missing those details can cause you undue stress.

One way to ease the load on your memory is to do budgets and forecasts on a spreadsheet or financial management app. You can also plan your personal and business budgets ahead of time, after which you can automate transfers for recurring transactions. With the help of technology, you can start reducing the number of tasks that you have to actively manage.

In addition, compiling and analysing statements from several financial institutions can be frustrating. It may be easier to manage your finances by streamlining to just a few preferred financial institutions and performing your transactions with them.

Take your financial pulse

Give yourself peace of mind by checking your budget, expenses, and revenue at regular intervals to make sure they are within expectations. Identifying trends in your performance will also help you optimise your business expenses to get the most value for money.

One example could be that your company is spending more on marketing this year, but is not getting a significant boost in customer acquisition. It may then be worth reviewing your marketing campaign and budget to maximise value for money.

Finally, life is much more than just about making money. Be a Lifepreneur. Spend time with your friends and family in between attaining financial freedom by running your business. Set aside personal time each day for rest and recreation. Recharge your body so that your brain will be ready to take on the week ahead of you.

Strike a Balance

It might be difficult, but it is important to strike a balance between building your business and building a life. Managing your stress levels and allowing your body to recharge might take your time, but it is essential to rest. This way, you can sustain long days of work while taking care of your physical and mental well-being.

Do not just be an entrepreneur. Be a Lifepreneur and enjoy the fruits of your labour in the best state of health you can have. To find out how you can be a Lifepreneur, get in touch with us today!

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