I have represented or worked with hundreds of entrepreneurs over the decades. I also am one, having bought and sold businesses and built my law practice. I find that many entrepreneurs are workaholics or just plain hard workers. The problem is they burn out or become resentful of the business if it takes them away from family and recharging time. And the downside of 24/7/365 work can lead to health issues, marital issues, reduced productivity and loss of perspective.
Some ideas: Take more vacation but be ok doing some work when you do. When you take a business trip, add a half day to do something for yourself. Be more prepared to delegate to capable employees. Work at home now and again. Schedule a regular diversion whether a tennis game, weekly massage or trip to the gym.
When you get time away from the business, with family and also "me" time just relaxing, you will do a better job of running the business. Building a growing company is a marathon, not a sprint, and you need to pace yourself. You will find good thinking and brainstorming time that wasn't there before. And your kids won't think you're "Uncle Daddy" or "Aunt Mommy" only seeing them on Skype once a day.
Keep an eye out for my new book on entrepreneurship due out next year!
For additional insights on reverse mergers, SPACs, other alternatives to traditional initial public offerings, the small and microcap markets and the economy, visit the Reverse Merger and SPAC Blog by David N. Feldman, Esq., Partner of Richardson & Patel LLP.
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