Managing your wellbeing as an entrepreneur

Franchise investment can be both a financially and personally rewarding journey, but there’s no doubt that it can also be equally time-consuming and, at times, stressful. Nonetheless, your work is personal, and the success of top franchise opportunities rely as much on the strength of the franchisee as the quality of the business itself.

Why is it important to invest in yourself as well as your franchise?

That’s why it’s equally important for franchisees to invest in themselves personally, as well as their businesses. Developing fresh skills and approaches for business is part of where the satisfaction lies in franchise investment. With the right focus, you’ll naturally develop both your business and personality assets at the same time. Like in business, there’s no right or wrong way to invest in yourself, and you know your personality and your habits better than anyone else.

Still, here’s a selection of methods that you can implement to maintain and improve your wellbeing as an entrepreneur.

Managing your wellbeing as an entrepreneur

Keep a diary

Keeping a diary, or journaling as it’s sometimes known, isn’t just good for writers. When your mind is running a million miles a minute attempting to keep track of your franchise investment, it’s important to take time out to reflect and ensure you’re hitting all your personal and business goals.

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Research has shown that keeping even the simplest daily diary can allow you to relax, sleep and solve problems better. Working life, especially for an ambitious and independent franchisee, is usually constant. Therefore, it might help to dedicate a little time out with your own thoughts. The diary format also means that you can revisit previous entries so you can see how far you’ve come. Not only does this provide encouragement to carry on working hard, but it could even help you work out what’s next for you and your franchise.

Create your ideal environment

One of the perks of starting your own franchise is being able to be your own boss, decide the hours you work and make the rules. Of course, this needs to be in a way that adheres to the franchise agreement and allows for the business to be profitable. But there is room to make decisions that promote a healthier work/life balance and allow you to work round personal commitments.

You might find that you feel happiest working at home two days a week, or by creating an office environment where staff aren’t separated by cubicles. Either way, you can experiment and find an environment and routine that works for you and your employees. This should not only maintain and improve your own wellbeing, but also the wellbeing of the other individuals involved in your franchise.

Manage your time

No matter how hard you work and how seriously you take your franchise investment, the fact remains that there are only so many hours in a day. And while the most successful franchise opportunities often have some equally successful people behind the scenes, it’s not worth sacrificing your mental health by pushing things to the brink.

For example, you don’t need to always be attached to your phone or tablet. Although franchisees often feel a huge responsibility for their business, research organisations such as SaneBox have identified that the average email takes 64 seconds to digest and recover from, and that the average inbox contains just 38 percent emails of significant importance.

Take breaks

Leading on from what we mentioned earlier, as a franchisee you can decide how much, how little and when you work. Whilst this is an appealing perk of the franchise model, many franchisees are so driven to achieve their goals and see the franchise succeed that they never want to take a break. This is detrimental for both physical and mental wellbeing. A break doesn’t always have to be a two-week holiday, a few ten-minute breaks throughout the day or allowing yourself to finish work by 5.30pm at least two days a week is a place to start.

Find time for you

Whether you like exercise, listening to music or a podcast, reading or anything else that gives you satisfaction and pleasure, make sure there is always time for it. There are now dozens of ‘time apps’ available for your phone and tablet, to work out where time is truly slipping away from you every day, and how you can achieve a better, healthier balance of work and life without needing to take your eye off the ball.

Don’t neglect your family

It’s admirable to be incredibly passionate about and dedicate yourself to the success of your new business venture, but you should try to find a balance and not compromise on relationships with your family. In order to maintain and improve your wellbeing, don’t forget about those you are closest to. You won’t regret taking some time off to have a fun day out with your family. If you are happy in your home life, this should also transfer into your work life.

Achieve your brand

Many franchises, especially those with a local focus, have easily adapted to the new frontier of personal PR and social media. If you’re already a confident person, locally known (for all the right reasons), and perhaps have a customer service background, then establishing a personal brand on Twitter, Facebook, Instagram and other social networks could quickly become a key part of your franchise investment strategy. You can seek out new customers with updates, blogs and even vlogs if you’re feeling particularly camera-friendly, as well as keeping your regulars informed of offers, ideas and developments.

Be a part of the business community

For all the competition in franchise investment, there’s also a great community of like-minded individuals with similar dreams to your own, meeting both in real life and online to swap tips for top franchise opportunities and discuss their personal experiences. If you can’t make it to conferences and AGMs, there are online ‘webinars’ and discussion forums, which can make the whole experience of franchising slightly less daunting, especially if you are investing without a partner in the business.

There are also a huge number of websites, books, TED talks and real-life seminars available to help you gain insight into how best to run your business. As a franchisee, you’ll probably be able to follow the path of other investors, as well as relying on advice from the franchise itself. But franchising is a learning curve, and there are always new approaches to uncover.

Recruit staff you can rely on

In order to avoid stress and negativity further down the line, hire people you can trust to get the job done and who you like being around. An office filled with positivity and enthusiasm will do wonders for your mental wellbeing. Having a reliable, hardworking team also means you should be less concerned about your business when you take breaks, comforted by the knowledge that it’s in safe hands.

Be ambitious

Many of the most successful franchises are built on sheer hard work and determination. It’s a way of working and living that trickles down from the founders of the franchise itself to those on the frontline. However, it’s important to consider what you want to get out of the franchising experience on a personal level, as well as what you wish to achieve professionally. Where have you always wanted to visit? What have you always wanted to spend your hard-earned cash on? A new kitchen, conservatory or a car? If you are completely dedicated to the success of your franchise, there is scope for you to achieve these goals.

Be realistic

However, even the top franchise opportunities can be hard work, and it’s important to remain realistic about what you can achieve. Why not pepper your more aspirational ideas with rewards that match the natural progress of your business? Day trips, nights out, spa visits and weekends away can all act as much-needed breaths of fresh air away from the daily hustle and bustle of running a franchise.

Make a list

List-making can be a huge advantage here. When you see your aspirations laid out in front of you, it can make it easier to work out how much or little time and work you need to put in to reach your personal targets. It should also help you arrange ideas and concepts in a way that makes sense to you personally.

Conclusion

With any franchise investment, you will always ‘take the work home with you’, but it’s much easier when it’s work you love, and even better when it’s having a positive impact on the quality of your life and free time.