Every female business owner confronts the issue at some point in her career: to vacation or not to vacation? The answer to the question lies not only in whether she has enough time and money to take a few days, or even a couple of weeks, away from her business, but also, in whether her mindset will allow her to do so. Because each entrepreneur has her own set of beliefs, habits and characteristics, each entrepreneur will make different considerations when thinking about vacationing.
A recent study reveals there are five distinct types of women in business. Based on professional market research of more than 2,500 women in business, this study shows that each type of business owner has a unique approach to running a business and therefore each one has a unique combination of needs. This article outlines three of the five types and provides tips for taking a break – and keeping business running smoothly meanwhile.
Jane Dough is an entrepreneur who enjoys running her business and generally, she makes a nice living. She is comfortable and determined in buying and selling, which may be why she’s five times more likely than the average female business owner to hit the million dollar mark. Jane Dough is clear in her priorities and may be intentionally and actively growing an asset-based or legacy business. It is estimated that 18% of women entrepreneurs fall in the category of Jane Dough.
Jane Dough is what many people would consider a “natural born entrepreneur.” She has a clear vision for her business, and is very successful by traditional standards. In fact, 15 percent of Jane Dough business owners own million-dollar-plus businesses, and 22 percent of the women in this group earn $100,000 per year or more. Members of this group report high levels of satisfaction with business ownership.
Jane Dough’s success and personal satisfaction are due to her ability to prioritize and to stay true to her boundaries. Therefore, she is very likely to make time to vacation – and to really be able to check out and relax. She may bring her laptop and check her e-mail from time to time, but her ability to stay true to her boundaries means she can step back from her business and take the time to truly enjoy herself.
One of Jane Dough’s challenges is that in her desire to achieve growth quickly, she may over-delegate authority. She may hand implementation entirely over to her team, trusting team members to plan and execute without significant input. Therefore, when it comes to vacationing, Jane Dough might provide team members with a to-do list and expect them to carry it through to completion before she returns. The speed with which this type of entrepreneur operates sometimes leaves team members in need of a little more clarity. So Jane Dough needs to be sure to slow down enough to provide detailed instructions and clear expectations before she turns off her phone. Then, once she’s gone, she needs to make herself available periodically so that her team members can get any answers they need.