As Christmas is just around the corner, we here at Musitec like to reflect on the importance of relationships in strengthening the longevity of your business. As an entrepreneur or sole-trader, sometimes maintaining relationships among your family and friendship groups can be tough, but there are a number of different ways that relationships add value to the long-term success of your business.
1. Your family and friends can help in facilitating a balanced work/life environment.
So often it's believed that entrepreneurs need to work around the clock to get their businesses over the line, or worse, to simply prove their worth! This simply should not be the case, and in fact, a number of studies show that exceeding 50 hours of work per week drastically reduces your hourly productivity. Having a great relationship with your family and friends will help ensure that you're taking the time out to recuperate and ensure you are your most productive self.
2. They'll improve your mental health.
Studies show that 72% of entrepreneurs and leaders report mental health concerns at some point in their career journey. It can be a stressful and more often than not, lonely haul, which is why being surrounded by a close group of trusted family and friends, can offer benefits. They'll provide you with the ability to be vulnerable and air your stresses, rather than allowing them to bottle up and become more damaging to ensure that you don't burn out your mind in the process.
3. They'll remind you of what's worth stressing over (and what's NOT)!
The wise Richard Branson once said, "If I lost the whole Virgin empire tomorrow, I would go and live somewhere like Bali. Now if there was a problem with my family, health-wise, now that's a problem." Whilst I'm sure no one could truly be that nonchalant, he makes a great point. Everyday business dramas are usually problems that can be analysed and tackled. Whilst this can be stressful, loving a family will keep you aware that there are more important things in life to stress over. And truth be told, if those problems really are big ones, and your business falls over, they'll be there to support you.
4. They can prepare you for a brutal market.
Ever asked a seven-year old whether you look 'fat' in that new outfit? (We don't recommend it if you want to maintain any sense of self-esteem.) Children can be brutally honest, which can be kind of unnerving, but if you want to prepare yourself for the brutality of your average market - your kids, nieces and nephews are there to help!
From the team here at Musitec, we wish each and every one of you a safe and happy christmas with your family and friends, and look forward to seeing you in the new year.