The summer months are coming up and for many families across the country, that usually means at least one vacation getaway. But for most small business owners, this is often not the reality. Very few such entrepreneurs can tear themselves away from their companies for even a few days, let alone a week or two. However, many experts say there’s considerable value in taking this kind of time off, and it’s not as difficult as many might think.
Vacations can be beneficial to small business owners for a number of reasons, according to a report from Bloomberg Businessweek. Some of the biggest is that it might give them the ability to decompress a little bit, forget about the stresses that often come with running a company, and perhaps even get a fresh perspective on some lingering problems they might have been facing all along. However, as with many other things related to running a company, there needs to be some amount of planning that goes into this.
What should be done
The first thing that owners will have to make sure is taken care of before they head out of the office for a week or two, and that often includes making sure all bills are paid – or set up to be – if applicable, that projects are squared away, and customers or clients with urgent needs know who to contact, the report said. Further, giving the employees who will be taking over many of the owner’s responsibilities an idea of what they should be doing is vital. Owners should also have a plan ready to go that they can implement as soon as they get back, so there are no hiccups on either end of the vacation.
“Preparation is hard to do, but well worth it for the peace of mind you’ll have on vacation,” Alice Bredin, small business adviser to American Express, told the news agency. “[Having a return plan] makes coming back a little less painful, and it’ll refresh your mind so you remember what you need to work on next.”
Owners might also want to take this kind of time to make sure that their companies are running as efficiently as possible, and that often includes cutting expenses. By finding more affordable small business insurance coverage – including policies for commercial insurance – companies might be able to save thousands annually, which can then be devoted to other aspects of their companies.