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3 Ways To Separate Your Business From Your Personal Life
Your business should try not to mix with your personal life. If it does, things get very messy, very quickly. If you’re new to the startup game, it is common to keep things mixed up. This is through no fault of your own, it’s simply a case of not knowing why you should separate stuff.
Today, we’re looking at three key elements of your life that should remain separate: your finances, your contact details and your work.
Keeping your finances separate
Every business owner should have two accounts; one for personal use and one for business use. This is essential as it lets you keep an accurate track of your business spending – which is key when figuring out profit margins and taxes.
To take things a step further, it helps to become a limited company. This means that your business and yourself are legally two separate entities. As such, your personal assets and finances are protected if something goes wrong. Let’s say your business is in debt – your personal finances won’t be called upon to pay these debts.
Keeping your contact details separate
Naturally, you’re going to have a personal phone number, personal address and personal email. If you start getting business messages sent to these things, your life becomes an absolute mess. It’s very easy to start missing important business calls or emails because they are lost amongst all the personal messages you get.
Consequently, you should keep your contact details separate. Work on getting a WhatsApp business number to keep your calls and text messages apart. Get a business email address and a virtual address for direct mail. Now, you will only receive personal messages to your personal contact points.
Keeping your work separate
Here, we’re talking about your actual daily work – you know, the things you do to run your business. It is important that you keep this as separate from your personal life as possible. An easy way to do this is by working in an office. You get to commute away from your home, creating this separation between work and pleasure.
If you work from home, it helps to give yourself a structured routine and work in your own home office setup. The reason it’s so important to separate work and personal life is that it helps you create a work/life balance. This is so crucial for your mental health as a business owner. If your daily work starts seeping into your regular life, it becomes hard to find a moment to rest. Stress levels build, which is when mistakes occur, leading to more work and more stress!
Understanding how to keep your business and personal lives apart from one another is something many startup owners neglect. You will find it easier to run a successful business when it doesn’t encroach on areas of your personal life. Likewise, you will find it easier to relax and have some much-needed downtime when you keep your personal life separate. The advice above will help you keep some key elements of your life apart from each other!