Running a small business while raising a family in the Philippines is a bit like juggling flaming swords while riding a bike – it’s hard work, and there’s always a chance you’ll slip up. But if you master the balance, the rewards are worth every second of the chaos. As a business owner, parent, and juggler myself, I’ve found that with the right strategies, it’s possible to thrive in both worlds. And yes, there will be days where you feel like throwing in the towel (or perhaps the flaming swords), but hey, that’s all part of the adventure. In this post, as part of our Manila Business blog, we explore some useful tips on running a small business while raising a family in the Philippines. So let’s explore!
Family First, Business Second – But Just Barely
If you’ve ever been to a typical Filipino family gathering, you’ll know family is at the core of our culture. We prioritize family above almost everything. The challenge, of course, comes when you’re trying to launch or grow a business while making sure your kids are eating something other than Jollibee for dinner every night.
In my case, I quickly learned that running a business doesn’t mean sacrificing family time. The trick is finding ways to merge both worlds without making either feel neglected. I involve my kids in little tasks – they help package orders, and yes, it’s chaotic, but it gives them a sense of involvement. Plus, it’s a perfect way to instill work ethics early on.
That said, it’s essential to remember that just because you’re busy doesn’t mean you’re being productive. Learning to say “no” to unnecessary meetings and distractions is crucial. This way, you can spend your precious energy where it matters most – with your family and on the business tasks that really move the needle.
Watch this video for some more tips:
Time Management: A Family’s Best Friend
The truth is, I’m not a wizard at managing my time. There are days where everything just feels like it’s spiraling out of control – kids fighting, clients calling, and deadlines looming. But over time, I’ve realized the importance of having some sort of schedule, even if it’s loosely structured.
When you’re a parent, time management is all about prioritizing. School runs, client meetings, meal prep, and squeezing in some downtime – it’s like piecing together a jigsaw puzzle where no two days are the same. Some days, the puzzle fits perfectly; other days, you just throw all the pieces in a drawer and hope for the best.
I found that it’s easier to manage my time by dividing it into blocks. Work in the mornings, family time in the afternoons, and then after the kids are in bed, I squeeze in a little extra work. This approach keeps me from feeling overwhelmed and helps me maintain some sort of balance. Plus, my family knows exactly when they can count on my undivided attention.
Watch this video to learn more tips on time management:
Money Matters: Don’t Mix Family and Business Finances
When you’re running a small business, especially in the Philippines, it’s tempting to blur the lines between your business and household finances. After all, if you need to buy something for the kids and the business needs equipment, why not just dip into the same pot? Trust me, that’s a road you don’t want to go down.
I learned the hard way that separating personal and business finances is vital for success. Not only does it give you a clearer picture of your business’s actual health, but it also prevents financial messes from spiraling out of control. For example, unexpected expenses – both personal and business-related – are inevitable. Setting up a separate bank account for each helps avoid sticky situations like using your business funds to pay for school fees.
Speaking of finances, getting a loan in the Philippines is an option many entrepreneurs need to consider at some point. The good news is, there are a variety of options available, from government-backed programs to microloans. However, before you rush into borrowing, make sure it aligns with both your family’s needs and your business goals. Loans can provide that much-needed boost to expand, but if not managed well, they can also lead to sleepless nights (and not the good kind).
Lean on Your Support System
I’ll admit – I don’t do this alone. From my spouse to my siblings and even my neighbors, I lean on my support system a lot. In the Philippines, we’re lucky to have such strong family ties. Whether it’s grandma looking after the kids while I’m in a client meeting, or my spouse helping me brainstorm the next business move, there’s no shame in asking for help.
Involving family members or close friends in the business can be a great way to ease the pressure. For example, my spouse helps with marketing, while my parents assist with bookkeeping. Everyone has a role, and it helps lighten the load. Of course, not every family member wants to be part of the business, and that’s okay too. The key is open communication and mutual understanding. Read this article to learn more.
Flexibility: Your Best Business Asset
One of the biggest advantages of running your own business while raising a family is flexibility. You set the hours, decide when to work, and have the freedom to attend your child’s PTA meetings without asking anyone’s permission. But with great power comes great responsibility, right?
While the flexibility is amazing, it can also blur the lines between work and personal life. I’ve found that setting boundaries is essential. After 5 PM, I make it a point to switch off work mode and focus on family. On the flip side, being flexible with work hours has allowed me to capitalize on “quiet time” when the kids are asleep or at school.
In a country like the Philippines, where family dynamics are such a big part of daily life, flexibility is crucial for thriving as a business owner and parent. Just don’t fall into the trap of never switching off.
Self-Care: The Forgotten Pillar
Here’s something that took me a while to realize – you can’t pour from an empty cup. Between managing a business and running after kids, I found myself on the verge of burnout more times than I’d like to admit. For a long time, I thought self-care was a luxury. But then, reality hit – taking care of yourself is essential if you want to be there for both your family and your business.
Whether it’s taking a short break for a quick workout or simply having coffee in peace before the day begins, self-care is a game-changer. It keeps your mind sharp and your energy levels high, making you more productive in both areas of your life. So go ahead, book that massage or take that afternoon nap – you deserve it!
And finally, watch this great video with Warren Buffet and other business tycoons with tips for small business owners:
Conclusion
Running a small business while raising a family in the Philippines is a challenging yet rewarding journey. It’s a balancing act that requires patience, support, and a lot of determination. But with the right time management, financial discipline, and a strong support system, it’s possible to thrive in both roles. The key is flexibility – knowing when to focus on business and when to prioritize family – all while taking care of yourself along the way. After all, as they say, you can’t pour from an empty cup. So go ahead, fill that cup, and continue thriving!
