What if I told you that it’s entirely possible to fund a sabbatical while you’re self-employed and still have a successful business?
It’s no secret that most business owners and entrepreneurs struggle to take time off for themselves and their mental well-being. For a business owner, a sabbatical of six months or more may seem impossible. Especially when you start thinking about how you’d pay for it.
But fear not!
If you’re wondering how to take a sabbatical and still run a profitable business, I have some great tips that will save you time, money, and peace of mind.
…But first, looking for a CAREER that allows you to make $100K in 90 days? Register now for my FREE + EXCLUSIVE online training, ‘Teach Me The Tax Game’ and learn everything you need to know to own a successful tax preparation business.
How Long Will You Be Away?
Your first consideration when planning an extended vacation is, how long will it last? Whatever your intention is, whether you plan to travel, learn something new, or just take some time off to recharge—it’s imperative that you make an informed decision.
One of the first things to consider (if you have any) is, how long can your employees work without you being there? What about your clients? Before anything else, you need to determine exactly how long you can afford to be absent before it starts to negatively impact your business.
If you’re the sole brain behind your operation, unplugging for 12 months to travel the world is likely not a realistic option. Instead, if you’re trying to fund a sabbatical while you’re self-employed, you’ll need to decide on a more feasible length of time. One that would still enable you to get the recharge you need without taking too much time away from your business.
Once you’ve determined the length of your sabbatical, it’s time to start thinking about how you’re going to keep everything operating smoothly while you’re gone.
Be Prepared
Taking a successful sabbatical requires some significant planning. As long as your work responsibilities are handled, you can completely relax and enjoy your vacation.
First, identify who will be responsible for taking over your responsibilities during your sabbatical, along with a timeline. In the weeks leading up to your departure date, have regular meetings with relevant team members about what needs to be paused or redirected. Discuss possible ‘what-ifs’ that may arise while you’re away and how you would like these situations handled.
Also, when planning your sabbatical, avoid picking a time that coincides with major events like product launches or important meetings.
Invest in a Virtual Assistant
As a serial entrepreneur, one of the most helpful tips I can give to help you fund a sabbatical while you’re self-employed is to invest in a virtual assistant. It’s a serious time hack that allows you to outsource small, daily tasks. Doing this allows you to shorten your weekly to-do lists and break away from the workaholic lifestyle that comes with being a business owner.
You can make your life easier with a virtual assistant by:
- Taking care of all administrative tasks
- Managing the calendar
- Email communications
- Dealing with financial issues
As if all that isn’t enough reason, you can save up to 55% by working with a virtual assistant, since you only pay for their time and don’t have to pay for their benefits, taxes, or leave. When you hire a virtual assistant through a reputable company, you are hiring a well-vetted, highly trained professional who is used to working independently without constant direction from you.
And virtual employees aren’t just for busy executives who need a personal assistant. From bookkeeping to sales consulting, many virtual assistants have industry-specific knowledge and experience that help with the overall operations of your business.
Automation Is Your Friend
You may not know it, but much of your day-to-day work can be automated. It involves using specific software or online tools to automate your work. And with automation, everything runs smoothly while you are away.
For instance, most customer relationship management (CRM) tools can generate reports and send them to your clients without you lifting a finger. A tool like Boomerang allows you to schedule emails to be sent at a specific time if you have emails that need to be sent at a certain time.
Additionally, lead campaigns on Facebook can be set on autopilot so that you can still get results even if you’re not actively involved.
Set up an autoresponder for your mail so people know you’re unavailable and who to contact in your absence.
Even when you’re actively working, business automation can save you time and allow you to focus on other important business tasks. Automation is not just useful when you’re taking a sabbatical; it can also be useful when you’re simply taking a break.
Get Ahead
Your clients quite literally make your business. So, when looking to fund a sabbatical while you’re self-employed, it’s important to work ahead of time. This is especially true of any client work so that you can maintain a relationship with them when you return from your vacation.
It’s always best practice to inform any clients you will no longer be servicing while you are away as early as possible and ask if they will consider using your services again when you return.
You Can Fund A Sabbatical While You’re Self-Employed
Being a successful entrepreneur isn’t easy, if anyone knows that to be true—it’s me!
Above all, try to remember that no matter how busy your life is, it’s not only possible to carve out time and refresh—it’s also necessary.
If you’ve been thinking about taking some time off to recharge, invest in yourself, and gain a new perspective on your business and life—now’s the time. With these five pointers, you’re closer than ever to being able to fund a sabbatical while self-employed!
…And while you’re here, don’t forget to take advantage of my FREE + EXCLUSIVE online training, ‘Teach Me The Tax Game’ and learn everything you need to build a successful career as a tax professional!
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