Running a business is no small feat, especially when you’re also a solo parent.
Over the course of my journey with Freshwater Tax, I’ve learned many invaluable lessons that have not only shaped my business but also helped me effectively juggle managing a very busy accounting firm with a young family.
Here are some insights and tips designed to help other busy business owners in my situation – of which I know firsthand: there are plenty!
Prioritise Self-Care
As a mother and business owner, you literally wear ALL the hats, meaning that you’ll likely have very little downtime. As such, it’s absolutely crucial to schedule your daily non-negotiables first. Pull out your calendar every Sunday night and plot out your week in advance. Factor in exercise, personal appointments, breaks & relaxation, and most importantly, adequate time with your loved ones. Keep these boundaries FIRM and resist the temptation to let work blur their lines. I always find that when I take proper breaks, I am far more productive in the time that I do work and tend to have a fresher perspective with more new ideas for ways to do things better. Ultimately though, feeling refreshed makes me happier and more driven.
TIP: I find that turning off notifications and setting timers – and sticking to them no matter what – is a really effective way of sticking to my guns when it comes to segmenting my time.
Delegate Carefully & Effectively
I’m all about outsourcing what you don’t NEED to do and what you don’t enjoy, BUT – it has to be done carefully, thoughtfully, and sometimes slowly in my opinion. At home, I have an amazing housekeeper who pops over to help me with the basics: folding washing, making beds, doing the dishes. She’s not only as OCD as me but wonderful with my girls. If she were not all of these things, then perhaps the cost would not outweigh the benefit, and I’d be spending money to do things that I could do better and more efficiently myself. The same applies in your business. If you’re swamped, don’t just rush to employ and immediately ease your workload. Use every piece of hidden time that you can find in your daily life to carefully map out the role that your new employee or contractor will take, with clear guides and loom videos. Yes, this will take longer and potentially feel a bit boring and tedious, but it will pay dividends in the long run. Consider too, is there technology in existence that could automate some of your processes, thereby reducing or even eliminating the need for more human resources? Time is the most precious thing that we have, and ultimately we all want to grab as much of it as possible to spend with our loved ones. While we all want a business (rather than a “job”), it’s important to take slow and measured efforts towards this aim, rather than rushing decisions that can backfire.
Be Careful Who You Trust
Be cautious about who you trust. Always have appropriate legal documents in place to address potential conflicts. Over the years, I’ve witnessed many nasty conflicts arise in small businesses between co-workers and business partners, and in most cases, these are unexpected. When going into business with friends especially, ensure you dot all your I’s and cross your T’s.
TIP: Regularly review and update your contracts and agreements. This will help protect your business and personal interests in the event of a dispute.
Protect Your Brand
Don’t let anyone take credit for your hard work and become the face of your brand unless it is well-deserved and a carefully considered decision. While sharing the load and vision can be beneficial, if you built your business from scratch, credit should be shared only when truly earned.
TIP: Clearly define roles and responsibilities within your team and communicate your vision and expectations clearly to avoid misunderstandings.
Never Rely Too Heavily on One Person
Both in your business and in your personal support network too. Especially if you begin to lose visibility on what this person does for you, you’ll stitch yourself up in the event that they are unable to work/assist. Always have a backup/disaster plan in place.
Maintain a Customer-Centric Approach
I truly believe that a successful business owner must have excellent customer-service skills. At Freshwater Tax, I work with thousands of Australians each year with diverse opinions and personalities. When dealing with the general public on a daily basis (especially in the capacity of an online business where people are trusting you without meeting you in person), it’s essential to manage strong emotions by listening, empathizing, and disarming. NEVER argue with your customers! If you have a bad temper, have another team member assist in handling issues. When problems arise and your clients/customers are upset, you must commit to seeing the issue from their point of view. If you absolutely cannot do this, seek to find a genuine way that you can connect with the person. This could be finding something that you both have in common or simply reiterating that you understand how frustrating it can be when your point of view in a matter is not heard.
Stay Organized
Use planners, apps, and tools to keep track of tasks, deadlines, and appointments. Staying organized reduces stress and helps you stay on top of your responsibilities. Some of the organization tools that I use religiously include: Google Calendar, Notion, and a nifty little email reminder service, Followupthen.com. Use an app external to your email account where you clearly list all your one-off and recurring personal and business tasks – and their due dates.
Seek Support
Surround yourself with a supportive network of friends, family, and professionals who can offer advice, assistance, and encouragement. Especially if you work from home, alone – this is absolutely essential! I’m so grateful for my incredibly supportive friends and family who have my back, no matter what. It’s also really important to connect with like-minded individuals in your industry. Doing so facilitates knowledge sharing, networking, support, and innovation, all of which contribute to your personal and professional growth and business success.
Let Go of Perfection and Understand That You Simply Can’t Always Do It All
I recommend focusing on what your key goals are at this point in your life. Mine are spending time with my family and being the best possible Mum to my kids, while also growing our small business and supporting as many Australians as possible with their tax, accounting & bookkeeping affairs. I probably don’t have as much of a social life as I’d like, but I don’t mind that just for now, because I know that this is not forever.
Keep Learning
Continuously seek out opportunities for both personal and professional development. This will help you stay updated with industry trends and enhance your business and life skills in general. As an Accountant in Public Practice, I am required to log at least 120 hours of continued professional development (CPD) every 3 years. (I’ve logged greater than this number in 2024 alone.) I strongly recommend sharing what you learn on your social media. This not only reinforces your learnings but means you’re sharing your knowledge while growing your brand awareness.
Conclusion
Balancing business and motherhood are not only challenging but extremely hard work! With the right strategies and commitment, I truly believe that it is possible to thrive all around. By implementing my lessons and tips, you’ll hopefully set yourself on the right track towards building a successful business coupled with a fulfilling personal life.
