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Whether you’re self-employed or have a regular full-time job, you have a lot of demands on your time. And even if you don’t have a spouse or kids, you likely have friends or extended family insisting on your time – not to mention any community organizations, churches, groups, clubs, or other activities you may participate in.

On a side note: if you don’t have a spouse or kids, and aren’t involved in some sort of community group or social club or something (i.e. if you spend your free time in mindless pursuits like video games) you don’t need to keep reading, but you should try aiming a little higher.

That being said, the way to balance your life is through managing it all properly – time management, goal management, priority management, etc. If things are hectic, you need to take some time to asses where you are, getting input from those friends and family demanding your time, and establish some ground rules. Set a specific schedule and stick to it.

And since everyone’s situation is a little different, something may work for you and not for someone else. That’s why it’s important to fully understand all the demands on your time, what you want to accomplish, what others want you to accomplish, and what you can do to make sure everyone’s happy.

The problems often arise when we decide to do something we want to do instead of what we should do (e.g. watch the football game instead of working) or when we incorrectly decide what we need to do right now (e.g. working in our office instead of having dinner with the family). It’s easy to justify working instead of spending time with family because the whole point of your work is to support your family. But the best approach is to build both at the same time. There may be some compromises and your business will grow a little less quite as quickly, but you also won’t find yourself alone.

Many entrepreneurs face the challenge of balancing their home-based business with the demands of raising a family. Though this arrangement can provide its share of difficulties, it also presents opportunities to teach children the importance of work and get them involved in a positive way.

Start by gathering your family together to discuss the significance of your business. The experts from PMI Education suggest that you explain to your children that your business is how you earn money for their food, clothes and other essentials. Help them understand that the reason you work hard is because you love them. You can then ask them for ideas for ways that they can help contribute. For example, your children could help you clean your office or stuff mailers into envelopes.

If you have small children, it’s also important to establish clear rules for your work time. Set up your home office a room with a door that you can close, which sends them a clear signal that you are busy. Some entrepreneurs find it helpful to hang a picture or sign on the door to indicate to their youngsters that they are working. If a separate room with a door isn’t an option, you should consider using noise-cancelling headphones. In addition to helping you focus, they’ll provide a tangible sign to your family that you are busy with work.

By explaining to your children the purpose of your business, you teach them the value of a strong work ethic. And if they are old enough to help around the office, they can take pride in their work and feel that they are also contributing to the family.