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Are you working ON your business?

Have you heard of the phrase “work on your business, not in it”? What does that mean exactly and why should you shift your business mindset in that direction? In this blog post we’ll talk about the obstacles and thought processes that are holding your business back from reaching its full potential.

What does working in your business look like?

When you’re working in your business, you’re focusing on all the daily technical aspects of your business that need to be done- you’re doing all the regular “job” work that involves the execution and management of your business.

  • Making the product
  • Delivering the service
  • Administrative work
  • Hiring and onboarding
  • Team training
  • Marketing management and execution
  • Sales management and execution

While it’s important to keep the business running, it’s also vital to know why and where your business is going.

While all of these are necessary in running your business- they are time consuming and require you to wear many hats. Eventually working day in and day out “in” your business will start to take a toll and you lose sight of your “why”. While it’s important to keep the business running, it’s also vital to know why and where your business is going.

You know working in your business is starting to weigh you down when:

  • You’re getting things done but you don’t feel like you’re moving toward something
  • You’re not clear on the big picture or the “why” behind your business
  • You’re constantly busy and overwhelmed

What does working on your business look like?

When you shift your perspective to working “on” your business, everything should change. Working on the business means you’re focusing on the vision behind your business and the strategy that will make that vision happen:

  • Strategic planning
  • Research and development
  • Creating systems
  • Alliances and partnerships
  • Scaling and Growth

Working ON your business requires you to think big and align your business with your “why”. When the stress of working “in” your business kicks in, remind yourself that your business should complement your lifestyle, not the other way around.

Passion and skill can only get you so far when trying to grow a business. 

If you started your own candle-making business because of your passion for making candles- you know the technical steps required of you to produce your product. But passion and skill can only get you so far when trying to grow a business. 

Running a successful business requires much more of you than just technical skill. Most small business owners start out with no knowledge of finance, marketing, lead generation and fulfillment, management, etc. All of these things start to overwhelm you as a business owner.

So, how do you work ON your business?

  • Evaluate your own performance consistently
    • Are your daily actions producing results in your business? Evaluate what works AND what doesn’t work to eliminate busy work.
  • Be clear on your vision
    • To make strategic decisions for your business and set relevant goals you need to know where you’re going and why
  • Business development
    • Working “on” your business looks like building great relationships with people before you need them. This can be relationships with other business owners, potential clients and customers, etc.
  • Invest in Yourself

Remember your WHY

When you’re feeling the burden of running your business- take a step back and remind yourself what your ultimate goal is. Most people start their own businesses so that they can be in control of their own lives while pursuing their passion. How can you make your business the product and not just the place you go to work everyday?

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