2014-06-11 00:00:00GeneralEnglishhttps://quickbooks.intuit.com/in/resources/in_qrc/uploads/2017/05/workaholic.jpghttps://quickbooks.intuit.com/in/resources/general/are-you-a-workaholic/Are you a Workaholic?

Are you a Workaholic?

2 min read

As a Small Business owner whose business is constantly on your mind, it is extremely easy to become a workaholic. In this post, we will cover key features that will allow you to gauge if you are a workaholic and more importantly, determine if being a workaholic is adversely affecting your business. What is a Workaholic? While definitions on what constitutes a workaholic vary, there are certain criteria they all agree on • Workaholics compulsively think of work • They work long hours, including mandated holidays and vacations • Being a workaholic is not to be confused with being a hard worker • For Workaholics, their self worth is closely related to their worth for the organisation Are you a Workaholic? Here are some of the symptoms to identify whether you are a workaholic: • You log more than 10 hours a day on a daily basis • You regularly work during your lunch break • Work is always on your mind. Even at social and family engagements • You feel anxious when away from work • You devalue colleagues and co-workers who take personal time • Avoidance of set boundaries for clients or co-workers • You are afraid to delegate Is Business Adversely affected? As mentioned earlier, being a workaholic is very different from having a strong work ethic and being passionate and deeply engaged in your business. Here are some ways it can be bad for business: • Lower Employee Satisfaction: As the Business Owner, if you expect your employees to spend as much time and effort as you do on your business, you are in for a disappointment. The key to being a good employer is to appreciate different peoples’ styles of working. It is also important that your employees enjoy the requisite personal time so that they may be better focused on doing their job while at work. • Lowered Instances of Team Work: If you are a workaholic who finds it difficult to delegate work, then you will find it an uphill battle to reach your business goals. Your organization needs a leader who can guide a team to the completion of their tasks rather than work on them yourself. • Lack of Realistic Expectations: As a workaholic who has work on your mind 24/7 you will have difficulty gauging the worth of your company, your employees and most importantly your business goals. It is extremely necessary, that you are able to take a step back, evaluate your company realistically and plot a path to success accordingly. • Lack of Boundaries: Being a workaholic could lead to a complete lack of boundaries when it comes to client servicing and deliverables. You may lose sight of what is achievable and make promises that your organization will find hard or impossible to deliver. The key to running a successful business is to set proper expectations for your clients and then work hard to meet them rather than over-promising. • Stress-related and Health Issues: While you may want to ignore the effects of stress on your business, as the business owner you cannot afford to. You are integral in leading and formulating the vision for your business. Any health issues that you face personally will definitely have a negative impact on business. For your business to succeed it is essential that you attain a good work-life balance, pay attention to issues faced by employees and create the right boundaries for your business to grown and flourish.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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