By Jill Calabrese Bain, Business Banking Executive, Bank of America
While being a business owner in today’s environment is no easy feat, some women business owners are also faced with another reality—serving in an equally and arguably more demanding role as a caregiver. Working what feels like, and sometimes is, two full-time jobs can be extremely overwhelming. That’s why it’s important for women business owners in this dual role to take the time to invest in themselves.
Investing in yourself is vital to laying the foundation for both personal and professional success. When you prioritize personal well-being, you’re not just nurturing your capacity to manage a business, but you’re also making sure that you have the emotional and physical strength to take care of yourself and your loved ones. Self-investment is all about recognizing that your abilities, health and mindset are central to the success of all your other life priorities.
Recognizing the importance of investing in yourself is just step one. Putting that understanding into action is where the real work begins. For women business owners who are also caregivers, finding practical ways to invest in yourself can be challenging to balance but, at the end of the day, is immensely rewarding. The following tips offer actionable strategies to help you prioritize your growth and well-being.
1. Invest in your network
To start, tapping into your network of fellow women business owners is a great way to meet like-minded individuals who are balancing business ownership and caregiving. That’s one of the many reasons I love NAWBO—it’s a great way to connect, learn and advocate for other women experiencing and navigating similar situations. NAWBO creates a safe space for all of us to uplift each other, while also offering a supportive community to connect you to the resources you need to ensure that both you and your business thrive.
2. Embrace mentorship
While building out a network, mentorship is a great way to both learn from others and pay it forward. A mentor, especially once who understands the unique pressures of being a working mom or caregiver, can offer their own perspectives and practical advice from their lived experiences on how to juggle caregiving and their career. By providing encouragement and advice, mentors can help build a mentee’s self-esteem and confidence, both personally and professionally. Outside of advice, mentors can also help you identify your strengths and areas for improvement, guiding you towards skill development that aligns with both your professional and personal aspirations. Overall, embracing mentorship offers more than just guidance—it can equip you with the tools, insights and encouragement you need to be a better business owner and caregiver.
3. Ask for assistance when you need it—both at home and at work
It’s important that women business owners and primary caregivers know they don’t always have to go it alone. Finding trustworthy and reliable personal support, whether that is a family member or caregiving service, can help business owners when their company requires more of their attention.
In the workplace, delegation can help spread the workload while also building confidence and skills amongst your team. If the budget allows, you might also consider outsourcing some business activities, like accounting, marketing or HR, to free up not just your own time, but also your employees’ time to focus on business-critical tasks.
While there are challenges that come with the dual role of being both a woman business owner and a caregiver, ultimately, when you prioritize your own well-being, you’re better equipped to build a thriving business and a fulfilling personal life—benefitting not just yourself but everyone who depends on you.
We must continue to work together and support one another to ensure women entrepreneurs progress and thrive. I know that all of us at Bank of America are looking forward to continuing to support women business owners and championing their growth in the years to come.