Simple, yet surprising business success tip: Taking time off is good for you AND your business too.
Our culture is hooked on the hustle. According to the WSJ, 84% of executives have canceled vacations due to the demands of work. 84%. Stop and reread that. Wowza.
Taking time off is NOT selfish. In fact, your business will even benefit from it.
Still not sure? Well, may I present the results of my own experience as well as my research?
4 Benefits of Taking Time Off as the CEO
1. Improved performance
I’m pulling out the big guns & starting with what you’re likely most shocked to hear - better performance.
A Harvard Business Review study I read shows a strong correlation between taking time off and increased productivity, creativity, and attention to detail. Sounds good to me!
In fact, you’ll likely be more productive before you go on vacation. Nothing motivates us like a deadline!
2. You can’t pour out from an empty cup
You're a hard worker. This I know. My entrepreneurial friends & clients work hard & put in the hours to prove it. I get it. I do too.
But do you know what else I do?
I play hard. Work hard, play hard. It’s a balance. And without the play part, you can’t continue to go and go and go. Or you can, but not with the high effectiveness you want to perform with.
Burnout won’t help you & it won’t help your business either. The stats are startling at how many entrepreneurs are up at night with concerns about their business (60%) and how many engage in business activities while on vacay at least part of the time (89%). Wowza. Take a break.
You aren’t doing yourself or your business any good by burning out physically, mentally, and emotionally. Get away. Meet new people; enjoy new experiences; learn new things. And let your business go on without you. Fill your cup.
3. Allow your Team to Step Up
Are you afraid your business will fall apart without you there? Maybe you haven’t delegated to your team well enough.
Envision how your business could run if you took some time away. Create the loom videos & document the processes so that you really can get away.
One of the most challenging parts of being a CEO is knowing when to delegate & then actually doing it. If you don’t delegate, you’re likely to feel overwhelmed. Worse - it leads your team to believe you don’t trust them.
What if you go away & some balls get dropped? Well, they probably will. Reality. But a lot of the gaps you’ll discover can be fixed by some tweaks the next time you’re out. You may even find that some tasks you delegated could be permanently delegated.
ICING ON THE CAKE BENEFIT:
Your taking time off shows employees that you value work-life balance. You walk your talk. They’ll feel better about taking time off then too. Create a culture where that’s expected. They can’t pour out from an empty cup either.
Studies show that employees are happier & more productive when they are entrusted to step up like this.
Winning all around so far? Starting to look at your calendar to plan some time off? Well, let’s cap off our benefits with one final one.
4. Time Away lets your Subconscious Work for You
Yep, you take time off, but your subconscious mind is still hard at work in the background. How convenient is that?!!
If you aren’t aware of the steps to go from stuck to solution, check out the newsletter issue I devoted to it here. Science supports the fact that it works. And so does the fact that you have come up with good ideas while in the shower….Just sayin’!
John Donahoe, eBay CEO, said “completely disconnecting allows him to organically come up with new solutions & innovative ideas that wouldn’t have come inside of his office.”
So yeah, beach life is apparently an okay place to get good ideas. Just say your fractional CFO friend, Christie, endorsed it. :)
Ramit Sethi, author of I Will Teach You to be Rich, takes 6 weeks off from work every year. And rarely checks in during those days. He’s a very successful businessman. Sean D’Souza, CEO of Pyschotactics, has designed his business to work hard & then also take 3 months of vacation a year.
I just want you to know that yes, we do have to work hard as CEOs and business owners…but at some point, it’s possible to also take significant amounts of time off.
But it will not happen overnight.
It will not happen if you don’t plan for it intentionally.
And it will not happen if you don’t believe in it.
But now you do see all the benefits, right?
Your business will be better for your taking time off. Get out your calendar and schedule some time off!
1. You're not taking time off because you believe you can’t.
2. Hustle culture tells us we need to go, go, go.
3. Business performance will improve if you take time off.
4. Relaxing & refreshing will help you so you come back as a stronger leader.
5. Your team will step up in your absence.
6. Your subconscious mind will still be working while you’re playing.
That’s it, my friend. I hope this prompted you to realize that you need & deserve some time off.
I’d love to hear your thoughts. Please reply & let me know when you’re next taking some time off.
I'll be working a bit over the Christmas break but also taking time for my family. Travel is my fave “play hard” activity so I’m looking forward to a girlfriend getaway to NYC in January too.
See ya next week!
Whenever you're ready, here are 3 ways I can help you:
1. Interested in a 2023 planning session or cash flow forecast system? Schedule here.
2. Want to chat about how you can gain peace of mind & confidence with a fractional CFO by your side & on your team? Schedule a call to see if we'd be a good fit to work together.
3. I post on LinkedIn every weekday at 7:15a CST. I'm responding to questions in my DMs from 7:15- 8. I'd love to connect. Find me here,
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