You started your business for freedom – freedom to do work you love, set your own schedule, and create the life you wanted. But somewhere along the way, the business you built to serve your life started demanding more and more of it. Sound familiar?
If you’re reading this while answering client emails at 9 PM or trading another family dinner for scarfing down food at your desk because of a “quick” project deadline, you’re not alone. The irony of entrepreneurship is that so many of us start businesses for freedom and flexibility and end up more trapped than we were in our previous jobs. (Ask me how I know😅)
Here’s what I’ve learned from working with many service-based business owners: true success isn’t just about hitting revenue targets. It’s about creating what we call “holistic wealth” – a life where your business growth actually supports your personal goals rather than competing with them.
Defining Success on Your Own Terms
Before you can balance business growth with personal goals, you need to get crystal clear on what success actually means to you – not what Instagram tells you it should look like.
Revenue is important, but it’s not the whole story. A $500K business that requires 70-hour weeks and constant stress isn’t necessarily more successful than a $200K business that funds your ideal lifestyle and gives you time for what matters most. This also doesn’t take into account profit margins, because we all know that profit tells way more than revenue does. One of the most liberating questions you can ask yourself is: “What does ‘enough’ look like for me?” It’s not about just making more, it’s about making enough to fuel the life you want. “Enough” might mean a business that consistently pays you $8k a month while preserving family time, or the ability to take two months off each year without business operations suffering, or $120k a year. Whatever it is, you have to decide what you need out of your business, and make decisions based on that. Because it’s hard to know where we are going when we don’t have clear goals. (+ a quick caveat – when I say enough, I don’t been bare bones, just enough. I mean enough to life life on your terms, whatever that means).
Creating Your Personal Definition of Holistic Wealth
Holistic wealth extends far beyond your bank balance. It includes:
- Time freedom: Having control over your schedule and availability
- Creative fulfillment: Doing work that energizes rather than drains you
- Financial security: Both current lifestyle funding and future wealth building
- Relationship health: Maintaining strong connections with family and friends
- Physical and mental wellbeing: Sustaining your health for long-term success
When you define success holistically, business decisions become clearer because you’re evaluating them against your complete set of values, not just financial outcomes.
The Hidden Costs of Unbalanced Growth
The “growth at all costs” mentality carries hidden expenses that often don’t show up on your P&L but can be devastating to your overall life satisfaction.
When business becomes all-consuming, personal relationships suffer first. Missed dinners, postponed vacations, and constant work-related stress create distance between you and the people who matter most, effect your health, and even have you resenting your business or your people. The physical and mental health impacts are equally real – chronic stress from overwork leads to everything from sleep disruption to anxiety to serious health conditions.
Focusing exclusively on business growth often means neglecting personal financial planning. We frequently see business owners who reinvest every dollar back into the business while building no personal wealth, or entrepreneurs in their 40s with thriving businesses but no retirement savings.
Perhaps most ironically, the unbalanced pursuit of business growth often undermines the very growth it seeks to achieve. Burned-out entrepreneurs make poor decisions, provide subpar client service, and lose the creative energy that made them successful in the first place.
Setting Boundaries That Serve Both Business and Life
Boundaries aren’t limitations – they’re the structure that makes both business success and personal fulfillment possible.
Start by identifying your non-negotiables: the personal commitments, activities, and time blocks that you will protect regardless of business demands. This might include family dinner time, regular exercise, date nights, or vacation periods. The key is treating these commitments as seriously as you would treat an important client meeting.
Every opportunity that comes your way should be evaluated against both your business goals and personal priorities. Learning to say no to good opportunities that don’t align with your bigger picture is crucial for balanced growth.
Questions to ask about any new opportunity:
- Does this move me closer to both my business and personal goals?
- What will I need to sacrifice to take this on?
- Do I have the capacity to do this well without compromising other priorities?
Building buffer time into your business operations isn’t inefficient – it’s strategic. It allows you to handle life’s curveballs without completely derailing your business or personal commitments.
Financial Planning That Supports Your Whole Life
Smart financial planning for business owners involves getting clear on your personal finances. Mixing business and personal finances and transactions – bad. Mixing business and personal financial goals – crucial.
One of the most common questions we get is: “How much should I reinvest in my business versus pay myself?” A general framework we recommend:
- Know your “enough”: Getting crystal clear on your personal finances and what you need gives you the clarity to plan for your business finances well. Think of this as laying the foundation. If you’re not sure where to start, check out our personal budget guide here and get a free trial of our favorite budgeting app here.
- Create a plan for your business: Once you know exactly how much you need to take home, you can plan for your business finances.
- Tax obligations: Plan to set aside 25-30% of revenue for taxes
- Personal pay: Make sure you are taking that consistent owner’s salary that you planned for
- Additional profit distribution: Based on business performance and personal goals, absolutely feel free to take more!
Your business might be your primary asset, but it shouldn’t be your retirement plan (I don’t know about you but I plan on sipping a cold bevvie on the beach or chasing my grandkids around in my retirement, not working forever). Business owners need to actively build wealth outside their business through SEP-IRAs, diversified investment portfolios, and insurance policies that protect both business and personal assets. Whether it’s buying a house, starting a family, or taking a sabbatical, major life events require financial planning that extends beyond business cash flow. Creating separate savings goals for these events ensures that personal milestones don’t create business financial stress. If you don’t know where to start with this, talk to a financial planner who understands you and your business (let us know if you need a rec!)
Scaling Your Business Around Your Life Design
The most successful long-term entrepreneurs we work with have learned to scale their businesses in ways that increase rather than decrease their personal freedom. True business growth means building systems and processes that can operate effectively without your constant involvement. This includes standard operating procedures for routine tasks, team members who can handle client work independently, and automated systems for marketing and administrative tasks.
Strategic team building is often the key to both business growth and personal freedom. The right team members don’t just handle tasks – they free you to focus on high-value activities and create the space you need for personal priorities. While service-based businesses are inherently time-intensive, consider creating income streams that don’t require your direct involvement for every dollar earned: digital products, affiliate partnerships, or subscription-based offerings that provide recurring revenue.
Regular Life and Business Alignment Check-ins
Balance isn’t a destination – it’s an ongoing practice that requires regular attention and adjustment.
We recommend quarterly check-ins that evaluate both business performance and personal satisfaction. Ask yourself:
- Am I moving toward both my business goals and personal goals?
- What’s working well in terms of balance?
- Where am I feeling stretched or unfulfilled?
- What adjustments need to be made in the coming quarter?
Watch for warning signs that your business might be overtaking your personal life: consistently working more hours than intended, feeling guilty when not working, personal relationships showing strain, or loss of enthusiasm for work that used to excite you.
Making Difficult Trade-offs and Decisions
When facing opportunities that seem to conflict with personal goals, create a simple scoring system. Rate how well each opportunity aligns with your business goals (1-10) and personal goals (1-10). Consider what you’ll need to sacrifice and whether this fits your current season of life. Clear communication about your boundaries actually enhances rather than undermines your professional relationships. Clients and team members respect leaders who are clear about their availability and priorities because it creates predictability and trust. Remember that other people’s definitions of success don’t have to become yours. When facing FOMO or external pressure, return to your personal definition of success and focus on your own journey rather than comparing to others.
Creating True Success: Business Growth That Serves Your Life
The most successful entrepreneurs understand that business growth and personal fulfillment aren’t competing priorities – they’re complementary aspects of a well-designed life.
When your business grows in alignment with your personal goals, you maintain enthusiasm for your work, build sustainable success, strengthen relationships, and create wealth that actually enhances your life rather than consuming it. True wealth isn’t just about the numbers in your business bank account – it’s about creating a life where your work serves your values, your success supports your relationships, and your business becomes a vehicle for the life you actually want to live.
Ready to create a financial strategy that supports both your business growth and personal goals? At 1428 Financial, we specialize in helping service-based business owners build holistic wealth that encompasses both business success and life satisfaction. Book a strategic planning session with us to design a financial approach that honors all your goals, not just the business ones. Because when you align your business growth with your personal values, everything else falls into place.
The content in this blog post is provided for general informational purposes only and should not be considered professional tax or legal advice. The author is not a Certified Public Accountant, and no assurances can be made regarding the outcomes or consequences of tax returns, IRS actions, or any financial decisions based on this information. Readers are strongly advised to consult with a qualified tax professional or legal advisor for personalized guidance specific to their individual circumstances. The author expressly disclaims any liability for decisions made based on the information presented in this blog post.
