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Better Business, Better Life – Issue 64
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As we head into another week, I take great pleasure in sharing my curated articles, tips & tools in a short read that will hopefully give you a few ‘aha’ moments as well as some laughter or joy. Most of all I hope it gives you pragmatic inspiration & helps you on your journey to doing what you love, with people you love, making a huge difference, being compensated appropriately with time to pursue other passions – #TheEOSLife.
Here’s this week’s business tip, life hack & find of the week… Some of them are original, most are things I have come across in my weekly pursuit of self-improvement & living a better life, through creating a better business. And don’t forget the inspirational quote, which you can download as a wallpaper or lock screen for your phone.
As always, if you find great things that you’d like to share then feel free to email me for inclusion in one of my weekly newsletters. I’m always looking for new & exciting things to share each week. And if you think someone else would like to receive the newsletter in their inbox, directly from my inbox (no newsletter apps used here!) then please let me know – debra@debrachantry-taylor.com
BETTER BUSINESS
Secrets of a successful family business
Some of the biggest companies in the world such as Wal-Mart, BMW & Ford, are family-owned businesses.
In fact, family businesses account for two thirds of businesses worldwide! But not all family businesses are wildly successful like these big names.
Data shows that only 30% actually make it to the second generation, 12% into a third generation, and just 3% last into the fourth.
So, what are the secrets of the select few that continue to grow & thrive for generations to come?
This article has curated the top 8 tips to help family businesses succeed:
- Communicate
- Evolve
- Set boundaries
- Practice good governance
- Recruit from the outside
- Treat employees like family
- Make it optional
- Plan for the future
Family businesses can experience double the challenges as both business & family issues need to be managed effectively. And when unresolved issues blow up, it hurts not only the business but some of the most important people in their lives.
But when they get it right, the passion, synergy and resulting legacy can be like no other.
Read the article to learn more about the 8 tips to run a successful family business:
BETTER LIFE
A day spent not thinking about work…
And by that, I mean 100% of the day!
As entrepreneurs we just keep going & going – fuelled by passion, drive & probably coffee! We never stop & find it difficult to even slow down.
I’m guilty of this. On my ‘days off’ I’m still thinking about the business. And sometimes I sneak some work in during the morning because some things just have to be done.
You may struggle with it as much as I do, if not more! It can be very difficult to step away from work, even when you know it’s good for you.
According to a study by the World Health Organization, 745,000 people died in 2016 from heart disease & stroke due to working long hours.
Not taking regular breaks & much needed time off is literally killing you! Most of us probably know this already, so what will it take to change these damaging, no-brakes-on-the-entrepreneur-train ways?
When we take time off, we feel good. We feel refreshed & ready to give our all to the business again. Not only that, every dimension of our wellbeing improves – physical & mental health, motivation and our ability to maintain balance & focus.
If you find yourself working during the weekends, on public holidays or even worse, family holidays – remember you deserve to take time off. It’s only going to help you, your leadership team & your business!
Tips to successfully take time off:
- Put the right people in place and delegate.
- Choose someone who will run the team while you are out.
- Build out standard operating procedures.
- Practice taking small breaks every day.
How can you take action today to give yourself a break when you need it?
Find out more about managing & maximising your entrepreneurial energy:
FIND OF THE WEEK
Smart clocks!
Although I’m a tech fanatic & everything in my house from the lights to the cat feeders are controlled by smart devices, I still love analogue clocks.
I like having a visual representation of where we are in the day and have them up in the office & our boardroom.
The clock in the boardroom kept showing the incorrect time despite having new batteries, so I went online to search for a replacement.
And there I discovered a Wi-Fi clock – and now I can add another smart device to the family! It connects to the internet & automatically uses the correct time. So, we no longer have to set a reminder to turn it forward or back for Daylight Savings.
The instructions were completely in Chinese with no other translations, but it was simple enough to figure out without being able to read a single word.
If you’ve been wishing for a clock that will always tell the correct time (unless your internet is down!), you should try this one out.
This is the one that’s now hanging in our boardroom:
INSPIRATIONAL QUOTE
“To be fully engaged, we must be physically energised, emotionally connected, mentally focused and spiritually aligned with a purpose beyond our immediate self-interest.” – Jim Loehr
You can download this wallpaper or lock screen for your phone.
NEED HELP?
If you’d like to learn more about any of these tools or would like to find out how I can help you achieve a better life through creating a better business, then book a free Discovery Call with me.
We’ll talk about what you want to get from your business & your life & come up with a plan to do that!
Debra Chantry-Taylor
Certified EOS Implementer | Accredited Family Business Advisor | Entrepreneurial Leadership & Business Coach | Speaker & Workshop Facilitator