Working “In” vs. Working “On” Your Business: A Crucial Distinction for Entrepreneurs
Starting a new business is an exhilarating journey filled with opportunities and challenges. As a new entrepreneur, it’s important to understand the crucial difference between working “in” your business and working “on” your business. These two approaches may sound similar, but they can have a profound impact on the success and growth of your venture.
“In” Your Business = Grind & Hustle
When you’re working “in” your business, you’re deeply involved in the day-to-day operations. You’re the driving force behind the tasks that keep your business running smoothly, whether that’s providing services, creating products, managing customer interactions, or handling administrative duties. While this is essential for keeping the wheels turning, it’s easy to get caught up in the details and lose sight of the bigger picture.
So are you working in your business?
They way to know is you feel like you are grinding or hustling. Without you things do not get done, you feel the need to “clock -in” most tasks you are doing are to keep the business afloat.
Working “On” Your Business = Scalability & Flow
Working “on” your business involves stepping back from the day-to-day tasks to focus on strategic planning, innovation, and scaling. This approach is about setting goals, devising long-term strategies, and creating systems that allow your business to thrive without being solely dependent on your direct involvement.
How to tell you are working on your business.
You do things that move the needle, that align with the long term vision and goal of the company.
Daily tasks and the business is at a place it can be outsourced and you do not need to be involved.
You feel more excitement and reward working on your business it feels in more flow vs having to hustle.
So why would one want to have their company depend on them.
The truth is most entrepreneurs are exiting a work force or school where we are taught and trained to ‘clock in’ work 8 hrs and that was deemed efficient or effective, as long as you show up, what is done is not taken into consideration.
So we learn to make tasks longer, giving us something to do to fill the time.
Most are unaware of this and try to break it by anarchy creating their own business without realizing that with no strategic planning or vision they are just building themselves a job.
Creating a company that depends on them to make decisions and clock in so that it can run.
So here are some tips to get you out of your business- job and into a position as head of your company.
- Effective Time management:
Dedicate specific blocks of time in your schedule to work on your business. Treat these blocks as non-negotiable appointments that are just as important as any client meeting or operational task.
- Build Systems & Processes:
Develop standardized procedures and systems that can streamline your business operations. These systems will make it easier to delegate tasks and ensure consistent quality.
- Hire Effectively:
You are only as good as your team, learn to hire and manage a team properly. Develop a ranking on what are the skills needed for the position , what are some of the experiences needed to execute properly and what are the values of the company you want your team to be in alignment with.
- Delegate:
Identify tasks that can be delegated to capable team members or outsourced, allowing you to focus on strategic initiatives.
- Identify Key Priorities:
Determine the most critical areas that need your attention for growth. It could be marketing, product development, customer acquisition, or expanding into new markets.