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Sept 2007: Business Owner and Caregiver |
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Business Owner and Caregiver
Managing your business while caring for the needs of an elderly parent.
By Cheryl Smith
We are business owners; we multi-task, strategize and solve problems, all while juggling e-mail, the phones, employee demands, our own needs and the needs of our spouse and kids. It’s a lifestyle, not just a job.
We don’t work normal hours—many of us are up at 5:30 a.m. on the computer answering e-mails, doing the laundry, making lunches, paying bills, exercising or trying to figure out how to get to the grocery store, dry cleaners and the pharmacy all before we arrive at the office. Items that require constant attention surface hour by hour and we somehow figure out how to figure out solutions. We see a problem and we handle it—it is what we do.
Life Turned Upside Down
And then one day, the phone rings and it is the moment that every adult child fears: hearing that your elderly parent needs help, either because they are in the hospital, they need surgery or a neighbor has found them wandering around outside and confused.
Suddenly, we are thrown into a world we know nothing about, and we have little or no control over the situation or the outcome. We don’t know who to turn to or who to trust. Unless we know someone in the health care industry, we are flying blind. We are accomplished individuals, but we also are scared adult children watching our parents lose their independence and control. Plus, we (and our siblings) might live thousands of miles away from our parents.
Our society has moved from a traditional “will work a job for 30 years and retire” mentality, to a large number of adults in their 40’s and 50’s who decided to pursue their passions and start their own business. These are also the years that many business owners work their hardest to achieve their goals. The hours are long and the stress can be incredible. Also, depending on your age, you also might be working at your business and trying to be a parent to your own children. And now, you are thrust into caring for your parents, as well.
According to the 1999 MetLife Juggling Act Study, only 26 percent of those who responded expected to be caregivers longer than two years. But, the fact is the average length of time spent on caregiving is about eight years, with approximately one third of those who responded providing care for 10 years or more. This statistic will only increase with the rise in the elderly population, as boomers age.
Dueling Roles
If you work for someone else, you might be able to make changes at work to accommodate caregiving responsibilities. But how can small business owners “take a break” or decrease the amount of hours they work to help out with a parent. Is there a solution?
The elder care industry is growing and growing rapidly. For adult children trying to handle the issues of their elderly parents, there are more options now than ever before. Whether you live in town with your parents or at a distance, you should put together a “care team” to help you navigate through the maze of care options, and also help you with a strategy to make sure your parent(s) maintain as much independence and dignity as possible. The team should consistent of a geriatric care manager who can help you find a reliable home care agency, an assisted living facility, a nursing home, an elder law attorney, a financial planner and a good geriatric physician.
So, what happens when a business owner suddenly has to become a caregiver? With the right team of professionals you can continue to run your business, have personal time and still be a good son or daughter.
Cheryl Smith is the president of Kansas City Home Care Inc., which she founded in response to a need for high quality, reliable private in-home care services and care management. You can reach her at (913) 341-4800 or www.kchomecare.com.
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