Business ownership 101 – working “on”, not “in” your business

Business ownership 101 – working “on”, not “in” your business

When you first start a business, it’s likely that you’ll have to be the one that does most of the work.

Most start-up business owners have to be a “jack-of-all-trades”, handling everything from the delivery of services, to the accounting, creative and marketing side of things.

Generally, this is because you don’t have the resources to hire people to do the tasks you don’t want to do, but as your business grows, this should start to change.

In this post, we explore why it’s so important to move away from working ‘in’ to working ‘on’ your business, and how stepping back, delegating and automating tasks can really help your business to flourish and take it to the next level.

Understanding the concept

For your business to grow and develop, you need to be running it. This means that it needs you to drive it forward, set the correct course, and make the key strategic decisions.

There’s only so much time in each day, and it’s impossible to do all the things you need to do to grow your business and make it successful if you’re spending all your time working on the day-to-day functions of your business.

By taking a step back, building a team, outsourcing and delegating tasks, you’ll be able to free up the time you need to effectively plan and implement effective strategies for growth and business success.

Rather than being involved in every aspect of your business, you’ll be able to see the bigger picture, and take real steps forward that massively benefit your business.

Signs its time to spend more time working on your business

When running a business, it’s easy to slip into a routine where you’re not pushing your business forward anymore. Here’s a list of some of the warning signs that tell you it might be time to start taking a step back and start working on your business:

 

  • You find that every day is the same
  • Your business has stopped growing
  • You find yourself spending a lot of time on tasks you don’t like, or aren’t good at
  • You can’t find the time to do everything in your business
  • You keep putting off important decisions
  • You’re always busy, but your figures aren’t improving
  • You’re losing your passion and drive

 

If that sounds like you, then it’s definitely time to start changing the way you work.

Overcoming reluctance to change

As a business owner, it can be a real struggle to embrace this concept, usually out of fear that your business will be negatively affected when you take a step back.

After all, it’s through your hard work that the business has got to where it is today. Whilst this thinking is perfectly understandable, it’s also really limiting – and by working in this way, your business will be completely limited by your talents and capacity.

Remember that everyone has strengths and weaknesses, and no one is good at everything. By delegating jobs you don’t like, or aren’t good at, to someone who’s better at it, you’ll be able to free up more time to do the things you are good at, and like to do, benefiting your business in the process.

How Coach Pam can help

Making the steps towards working on, rather than in your business is one of the most important steps you’ll ever make as a business owner.

Next week, we’ll be looking at how you can generate passive income, so you can earn more, and work less!

For further information or help in changing the way you work, or personalised help on any aspect of running your business, get in touch with Coach Pam today on 07540888016, or email pam@coachpam.co.uk.