Running a Multi-Million £ Business and Raising a Family

Today, I want to dive into a topic that’s close to my heart – maintaining a thriving relationship while navigating the demanding challenges of running a multi-million-pound business and raising a family. Balancing these two major aspects of life can be incredibly rewarding, but it can also be quite the juggling act.

In 1987 the film Baby Boom came out and one of the famous lines was from Fritz the boss to J.C. who has just inherited a baby was (paraphrasing)  “J.C. you can’t have it all, not a family and a career” J.C’s respond “But you do Fritz” His reply “Yes, but I have a wife and a secretary that takes care of all that”.  Today, the ‘wife’ now doesn’t see her only role is to look after the household and children, but we want to have our own careers and successes as well.

For many years Steve and I were on this journey together, and while it wasn’t always smooth sailing, we learned a few valuable lessons along the way. So, here are some pieces of advice that helped us keep the passion alive in both our personal and professional lives.

Prioritise Communication

The foundation of any successful partnership, whether in business or love, is open and honest communication. Make it a habit to set aside time for regular check-ins where you can discuss not only business matters but also your personal lives and what is happening on the home front. These conversations allow for a better understanding of each other’s goals, frustrations, and triumphs, fostering a stronger connection. It helps if you know each other’s personalities as you can talk to each other in the way that is most meaningful to each of you. This is something I cannot advocate enough.

Delegate and Divide Responsibilities

In both business and family life, it’s crucial to delegate tasks and responsibilities and then stay in your lane, not keep crossing over and crashing into each other. Through personality profiling, you can identify each of your strengths and weaknesses and allocate tasks accordingly. This not only lightens the load but also prevents burnout. Remember, you’re a team, and teamwork is the key to success on all fronts.

Schedule Quality (Our) Time

With hectic schedules, it’s easy to lose sight of how important having time together is. Make a conscious effort to schedule regular date nights or family outings. Disconnect from work and technology during these moments to fully engage with each other and your children. These shared experiences can rekindle the spark and create lasting memories.

We were discussing the experiences we gave our children the other day. Taking them to a sheep derby, yabbie racing, building sandcastles, creating treasure hunts with clues, making up names for cars based on their number plates, and so many more, most of which took time but not money to achieve memories they still talk about as adults.

Set Boundaries

Boundaries are essential to maintain a healthy work-life balance. Establish clear boundaries for work hours and personal time, and stick to them as much as possible. While it might be tempting to bring work home, remember that your family deserves your undivided attention during personal time. Also, the bedroom is not the boardroom, so leave the business issues outside the front door.

Summary

In 2024 it is possible to have a business, have a family and have a life, but it takes organisation, adaptability, sharing and transparency, as well as prioritisation.  Single parents and Armed Forces families have been juggling putting food on the table with parenting and getting the job done, it isn’t new but there is certainly a lot more help and advice around than there was in 1987.