The Value of Stepping Back: Working On Your Business (Not Just In It)
by Noa Simons
Running a business is no small feat, regardless of the size. There are numerous areas to develop functional expertise in, and innumerable details that require attention. Developing perspective from within the chaos challenges even the most adept managers. However, perspective is crucial for making strategic decisions that reflect changing market dynamics, internal needs and capabilities, competitive landscape, technology evolution and customer needs. Perspective comes both from living inside the details but also from stepping away and seeing the whole picture. You have to make it a priority, no one will be more motivated to work on your business than you.
When I started working for a private in-home tutoring company in Massachusetts in the late 1990s, we were a small company growing organically with 3 FTEs. The company had developed proprietary curricula for the SAT and other standardized tests and we were doing a fine job selling $100+/hr educational services to wealthy families throughout the Boston suburbs. However, once in a while schools requested workshops or classes for students, and occasionally we said yes. At some point, our CEO decided to invest in strategic planning. That decision launched a 6-month process that included reading a book, doing independent exercises, and taking our small team offsite 3 times for overnight working sessions where we collaboratively explored various facets of the business. We shared ideas, crunched numbers and ultimately developed a plan to launch 2 new divisions — School Programs regionally, and Course Materials nationally. Over the following couple of years, we grew over 30% annually, and by the time I left, we had 20 FTEs.
The value of stepping back from your business to look at the big picture is in the context that perspective provides. Assessing the business in relation to the dynamic business ecosystem where it operates allows people invested to make creative connections and explore ideas. Those concepts can be modeled and analyzed, and decisions made that create a roadmap for the business. Having a roadmap with milestones helps people to focus on goals and to measure progress. Using well-established business planning principles to understand context, analyze alternatives and develop action plans can yield great gains in “steering the ship” for the busy business operator.
