Don Richard Associates Ed Greene Featured in an Article in My Business Magazine published by NFIB

Ed Greene, President of Don Richard Associates Norfolk Staffing Firm, has recently been featured in an article in the June/July edition of My Business Magazine, a publication of the National Federation of Independent Business (NFIB).

Greene, along with 2 other NFIB members, relate how owning a business and having a personal life can work hand-in-hand. Check out the full text article below, reprinted with persmission from My Business Magazine. Then head over to DRA's Resource Center for some more tips on the work-life balance or look for a new job in Virginia Beach using their Job Finder.

Three NFIB members reveal a shocking truth: You can own a business and have a life

by Shannon McRae

It’s 2 p.m. on a Tuesday, and Ed Greene is preparing to leave his office. His regular golf league is tonight, and he might fit in a quick workout before he tees off. A few years ago, Greene wouldn’t have considered walking out the door before 5 p.m., but at age 65, this small business owner says he’s ready to make a transition.

"It started about five or six years ago," Greene says of his desire to spend fewer hours at the office. "I used to have a guilt trip if I left early and everyone else was still there. After all, I’m supposed to be the example--I’m supposed to be the leader."

But Greene now realizes that there has to be a payoff for the 27 years he’s spent growing his Norfolk, Va.-based staffing firm. Things like taking care of his health and spending time with his family are now just as important as meeting with a client. "If I’m going to retire, I want to be able to enjoy it," he says. That’s why he is focusing on what some call the transition years--that time between working 50-hour weeks and retiring altogether. Sixty percent of business owners who say they intend to fully retire want to phase themselves out, rather than retire abruptly, according to an NFIB Research Foundation National Small Business Poll.

"As a business owner, you get in the habit of doing things yourself," says Greene, owner of Don Richard Associates. "But in my late 50s, I started assembling a really strong team. I made some good hires and invested time and money in them so that they can hopefully take it over, buy me out or allow me to sell to someone else with a really good team already in place."

In January, he promoted one of his longtime senior managers to chief operating officer, allowing Greene to leave the office every day by 2 p.m. He admits that he’d like to be fully retired by now, but the sluggish economy’s effects on sales--and on his retirement assets--have forced him to postpone his plans. "It has actually worked out fine," Greene says. "I’m enjoying the current arrangement, and it’s giving my team an opportunity to learn and grow in their leadership and managerial roles without all the risks of being thrown in over their heads."

If you’re ready to let go of the feeling that your business can’t operate if you’re not behind your desk, having a star team of employees is the first step toward making the leap.

"You build your organization with really great people, so that clients are happy to work with the great people who work for you," says Bob Clyatt, a former business owner and author of Work Less, Live More: The New Way to Retire Early (NOLO, 2005). "You still set big policies, big pricing and big patterns--but at the end of the day, the entire business isn’t dependent on one person."

That shift in thinking isn’t easy. Ed Greene admits giving employees more control isn’t a natural instinct for many business owners. "Letting people learn from their mistakes was hard," Greene says. "But you can’t second-guess your managers. You invest time to make sure they know your business philosophies, and then you let them handle things on their own. You can’t bust them every time they do something differently from the way you would have done it."

Another key to being able to get out of the office more, Greene says, is to establish a business that is less about you and more about a process you developed.

"When you’ve been in business for a long time, the business becomes an extension of your personality," he says. But in order to travel more with his wife, Greene knew he had to remove himself as the face of Don Richard Associates.

"The business no longer relies on me for new clients--some clients don’t even know who I am," he says. "Everyone on staff is responsible for bringing in new business. They understand that it’s part of their job."

Live It Up

Whether you’re nearing retirement or just ready to slow down, try following these tips to enjoy more time away from the office.

Train your staff. All the business owners in this story agree: A stellar staff is crucial for achieving a good work/life balance. You won’t enjoy getting away from work if you don’t feel you can trust your employees in your absence. But great staffs aren’t developed over night. You have to hire the right people, train them and let them learn from their mistakes.

Develop procedures. Ed Greene of Don Richard Associates set out to remove himself as the face of his business. He knew if clients thought he was the only one who could make big decisions, then he’d never be able to get away. In the same way, Larry Schaffert of Schaffert Construction spends more time developing instructions and procedures for his employees to follow than he does actually working on construction and remodeling projects. When he’s not there, they still know exactly what’s expected.

Give up control. There’s no way to stay involved in everything that goes on at your office when you’re not there. Think about it: If you’re ready to get away more, do you really want to keep up with the minutiae of day-to-day operations? Learn to let go--and let your employees do their jobs.

Get over it. Several business owners in the story expressed guilt about leaving early when employees were still working. But if you can’t enjoy the perks of business ownership, what’s the point? If you want to get out a few hours early every now and then, walk out with no regrets: You’ve earned it.

Enjoy your life. If you’ve invested years in growing your business, then you’re probably the type of person who likes to get things done. To find fulfillment outside of work, keep yourself active. Find new ways to build your self-worth when you’re away from your small business. You’ll be a lot happier when you eventually do retire.

Taking a vacation can be difficult while running a small business, but with the right staff and planning, Schaffert is comfortable taking two weeks off without calling in every day. "The standing rule when I’m on vacation is: Don’t call Larry unless someone is dead, dying or a house is on fire," Schaffert jokes. "I create a framework, give them the tools they need and put a lot of effort into making sure instructions are clear. When my employees make a decision--right or wrong--they know I’m going to stand behind them."

Read the full article here

About MyBusinessMag.com:
MyBusinessMag.com is the companion Web site to the magazine MyBusiness. MyBusiness is the official magazine of NFIB, the National Federation of Independent Business, the largest and most-influential small-business association in the United States.