Well-being: The Smartest Investment of All

Early morning jog? Check. Take the kids to school? Check. Run a multi-million dollar company? Check. Come home in time for dinner? Check.

While this may seem like a pipe dream for those in the midst of starting or running a business, it is possible, with the right time management skills and work-life priorities.

Unfortunately, that is often easier said than done. The Ewing Marion Kauffman Foundation reports that 70 percent of entrepreneurs were married when they started their first venture, while approximately 60 percent had at least one child. In addition, many business owners and entrepreneurs also have the responsibility of caring for their aging parents, further squeezing what is called the "sandwich generation."

Running a business—whether a multi-million dollar company or a local corner store—can put further stress on the well-being of even the most centered and focused entrepreneur.

Yet investing in your personal life and work-life balance does not have to mean sacrificing the success of your business—entrepreneurs that are more satisfied with their life tend to be more productive, level-headed, and focused, not to mention happy.

It's okay to delegate

One of the most important skills a business owner can have is that of thoughtful delegation. While it may seem strange to entrepreneurs to hand off tasks—many are used to doing everything themselves, and are more comfortable doing so—it is crucial not just to a healthy work-life balance but also to productivity and performance at work.

If you are anxious about passing over an important task, it may be worthwhile to invest in small business software that allows you to track employees' performance and time allocation, to determine which employee has the most resources to handle that particular task.

Know when to say when

One of the distinguishing factors of successful business owners and entrepreneurs is having—and pursuing—ambitious goals.

However, according to the theory of fixed mindset and growth mindset, holding on rigidly to goals that are no longer important or feasible can actually hurt your success (this is known as a fixed mindset). Adopting a growth mindset, in which goals are flexible and fluid, can ensure that you adapt to the reality of every situation and pursue the goal that is best suited for you and your business.

Focusing on short-term goals rather than long-term goals may also help to achieve a growth mindset instead of a fixed mindset.

Make a to-do list

To-do lists can be effective for many people, especially when tasks are ranked in order of productivity.

There are many small business software options that offer to-do list solutions, where tasks can be assigned into categories, given deadlines, and prioritized according to various levels. Many of these solutions are offered in cloud computing or software-as-a-service environments, meaning on-the-go business owners can access the lists from their home or work computer as well as their mobile phone.

Do something

Outside of work, that is. Take up a hobby. Go to your kids' sports games. Get a gym membership. Every investment made outside of work is a commitment to yourself, a commitment that shows you value your well-being and sanity just as much as you value the success of your business.

There are no luggage racks on a hearse

Or so the saying goes. Remembering the big picture is one of the most important keys to a healthy work-life balance. While the success of your company is no doubt near and dear to your heart—they do not call it a labor of love for nothing—is it as important as your family? Or your health?

The big picture can be tough to keep in mind in the midst of working. To stay present with that mentality, it may be helpful to ask yourself a series of "what if" questions. What if I go home right now to catch my daughter's soccer game? What if I lose this client? There are very few answers to "what if" questions that are catastrophic.

You're here for a reason

One of the best ways to achieve a healthy perspective is to remember why you got involved in the business to begin with.

Typically, passion for the business drives the hard work involved with being an entrepreneur or business owner, although that is no excuse for being a workaholic.

A recent study from Gallup found that entrepreneurs and business owners worked an average of 44 hours per week, logging more hours than workers in any other occupation and 10 percent more than the average American.

However, the poll also found that business owners ranked the highest in overall well-being.

This statistic indicates that, despite the workaholism, business owners do what they do for a reason and are generally happy doing so. The next time life feels unmanageable and work threatens to drown out the rest of life, remembering this one simple point may make all the difference.