Are you building a business, or are you just keeping it running? It’s a crucial question that every business owner needs to ask themselves. In this post, we’ll explore the difference between working in your business and working on your business, and provide you with tools to break free from stagnation.
Working In vs Working On Your Business
here’s a significant difference between these two approaches:
- Working in your business: This involves doing the day-to-day tasks. You might be working with clients, out on the tools, building things, or handling internal operations like finance or systems.
- Working on your business: This is about development and improvement. It includes activities like improving finances, training team members, or implementing systems and procedures that don’t rely on you or key team members.
How much time do you spend working on your business rather than in it? It’s a fascinating question to consider.
Signs You're in 'Operate' Mode
If you’re feeling overwhelmed, frustrated, or like there aren’t enough hours in the day, you’re likely operating more in your business than building it. These feelings of stress and being alone are telltale signs that you need to shift your focus.
The Pitfalls of Being Stuck in 'Operate' Mode
Being constantly stuck in ‘operate’ mode can lead to:
- Burnout
- Lack of quality
- Missed opportunities
- Lack of business growth
- Health concerns (both physical and mental)
Shifting Your Mindset
Everything starts with your mindset. Instead of being hard on yourself, focus on what you can do now to make your business and yourself better. It’s about progress, not perfection. Celebrate your wins, no matter how small, as they move you towards doing less, feeling less stressed, and seeing rewards through business growth and profitability.
Adopting a Business Owner Mindset
Michael Gerber talks about the three hats of a business owner. It’s crucial to switch from an employee mindset to a business owner or entrepreneur mindset. Ask yourself: How can you tackle problems without doing everything yourself? How can you delegate, systemise, and optimise your operations?
Investing in Your Business
Invest in your assets, team, technology, and personal development. Aim for growth that exceeds 10% per year. If you’re not achieving this, you’re standing still. Don’t fall into the trap of under-investing and becoming a miser.
Seeking Help
Don’t be afraid to seek help. Consider working with an accountant, business growth coach, or non-exec director. Their fresh perspective and experience can help turbo-charge your business growth.
Take the Next Step
If you want to take your business to the next level, consider joining our Business Growth Programme. We specialise in helping companies to significantly increase their profits and provide a better life for their families.
Have questions? Book a 30-minute discovery call with me. I promise to get to know you and answer your questions, and there won’t be any pushy sales pitch.
Remember, it’s about working smarter, not just harder. Are you ready to grow your business?
