Entrepreneur Secrets: Can entrepreneurs afford private lives?
February 4, 2017
By Jerry Bellune
Balancing work and a private life isn’t easy.
Entrepreneurs can become slaves to their businesses.
They eat, sleep and breathe business 24/7.
Many also become well-known community leaders.
They live very public lives as expert authorities.
If you’re an entrepreneur, get used to this idea.
But you can also have a private, family life.
Brenda Barnes faced such a dilemma at Pepsi Cola.
Brenda was a two-time corporate chief executive.
Her first flower shop job at age 15 paid $1.25 an hour.
Years later, she was paid $15 million a year.
In college, she majored in economics and waited tables.
After college, she climbed the corporate ladder fast.
She connected with workers on the factory floor.
She had winning ways with peers in the board room.
But the hours were brutal starting at 3:30 a.m.
She worked at home, then awoke her kids for school.
Leaving her job at Pepsi fueled a national debate.
Could women juggle a career and a family life.
She said 22 years of grueling hours was enough.
At age 43, she wanted time with her three children.
She resisted pleas from peers to remain at Pepsi.
Men have the same struggle, she wisely said.
Friends favored her decision to put her family first.
Others argued this was a blow to women at work.
To her surprise, the debate raged on TV talk shows.
She had not realized she was such a public figure.
She didn’t fully retire. She joined corporate boards.
These included Avon, Lucasfilm, Sears and Staples.
In 2004, her nest was beginning to empty.
The Sara Lee food conglomerate came calling.
The board needed her to revive their sinking fortunes.
As CEO, she began a broad corporate restructuring.
She sold non-core businesses to focus on food brands.
A stroke in 2010 ended her career at Sara Lee.
She died this month from complications of a stroke.
Brenda’s is an illuminating story. Ask yourself:
- Can I run my business in far less time?
- Who can I groom to take much of my load?
- Can I give them responsibility with accountability?
- How many hours will this free me from work?
- What can I do with those hours for my family?
- How can I teach my children to balance their lives?
Next: Britain’s female Donald Trump
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