What to Do When Personal Life Disrupts Your Business Plans? When we talk about work/life balance, we’re often talking about how it’s firmly weighted in the favor of the work we do. We all want to try and equalise the scales to get some more free time, but that’s usually the case!
So what happens when something goes wrong in your personal life and you have to drop out of the working routine? It’s a difficult thing to cope with, for anyone!
But when you’re someone with your own business dreams and plans already in motion, it’s an absolute disaster.
You have to slow down, and maybe even grind to a halt. You have to put a stop to the opening day you had planned in a week’s time. You may even need to cancel that contract with a website manager, as you’re not sure how you’re going to pay them in the long term.
But it’s not all doom and gloom. Yes, your plans are going to have to change. And depending on what’s happened in your personal life, these changes can be drastic!
But you’re not out of luck entirely. You can still own your own business and be the boss. You just have to go about it differently from here on out.
Cover Your Finances in the Short Term
What kind of financial picture are you looking at right now? No matter what’s happened to prevent you from being able to get on with your business plans, focus by taking a look at the here and now.
You don’t want to overwhelm yourself by thinking too far into the future. You also don’t want to miss out on some crucial details affecting your life in the moment by panicking over your five year plan.
Cover your finances in the short term first, then look at the bigger picture. What do you need, right now, in order to make it over the next 2 weeks? Then you can think about the month, and then you can let the plans grow from there.
You may also need to focus on your own recovery. Piling on the stress at this point in time won’t do your physical health any good either!
And you need a bit of brain power left over to think about what you might be due.
If something has happened that’s totally out of your control, such as a road vehicle accident or an injury from something occurring while out of the house, turn to a personal injury attorney to help you claim back some of the healthcare costs from the other party.
On top of this, you may also be able to chase down a full compensation suit, which will definitely help pad out your savings for a little while yet.
Dial Back Anything Already in Operation
Whatever you’ve got up and running already, try your best to dial it back to save yourself some money.
Like we mentioned above, you may already have a website built and someone on hand to help you run it.
Now you’re not going to be able to focus on your business as you were once hoping to, you may need to lower this person’s working hours, or even have to cut them off entirely.
This could be a tricky thing to do, of course, so be sure to consider every option for keeping them in work while still keeping the overall cost of operations low.
And keep dialing back like this in as many areas as possible. If you have a workspace all set out and with a deposit paid, don’t be afraid to cut the strings here as well. You don’t have the money available to rent it out long term, and you don’t want to get bogged down in a rental contract you can’t afford.
It’ll mean losing a bit of cash, but it’ll also mean staying in the green for much longer.
Look After Already Purchased Assets
Anything you’ve already sunk a big investment into, and is fully (or nearly fully) paid off needs to be looked after. After all, you’ve got two choices here:
The first is to sell those items on again ASAP. This is the choice to make if you’re either not sure when you’ll be able to get back on track with your business plans or you’re 100% sure you’re not going to manage it.
The second is to keep them stored away somewhere safe, where the elements won’t ruin them either, and save them until you can use them. This is the choice to go with when your business plans are only going to be held up by 6 to 12 months – and 18 at the max.
After all, you can either recoup some funds here or save yourself from having to spend the same money again.
Readjust Your Roadmap
Now we’ve got the money matters out of the way, you’ve now got the time to focus on how you can still make your business dreams come true.
This will likely involve having to readjust your roadmap, but the only thing to keep in mind is that it’s all still possible!
Change the timeframe, move events around, and don’t worry about all the new, extra steps you have to add in. A roadmap is there to guide you!
Get Your Business Plans Back on Track
They may be held up for a couple of months. They may be held up by a couple of years. No matter how long it turns out to be, you can get your business plans back on track.
The only thing to do now is accept the situation, put plans in place, and focus your energies where they should be in the meantime. Start with the short term, reduce any panic that might be setting in, and then think about where you can go to achieve your goals.
And in the end, the future might look very different than what you planned. But ultimately, it’s still one you can work with.
FAQs
How can I keep my business alive when personal issues take over?
Prioritize short-term finances, scale back ongoing operations, protect assets, and adjust your business plan to match your current capabilities.
Should I pause or sell my business assets during a personal crisis?
If the delay will be long-term, selling assets can free up cash. For shorter delays, store them safely to avoid future replacement costs.
How do I prevent long-term damage to my business plans?
Act quickly to reduce unnecessary expenses, protect your credit, maintain customer relationships, and revisit your strategy regularly.
