“Do You Spend Time Working on Your Business?”

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“Do You Spend Time Working on Your Business?”

Does your business feel like it has stalled? Has it plateaued? Or flatlined?

Reason # 9

Without a doubt time is our most precious, and our most perishable asset. How we use time is, I believe the greatest differentiator between those people who are successful and those that are not so successful. Focussing on what we do with our time will have a massive impact on our attainment levels and in order to have a really successful business we need to be even more diligent in what we use our time for.

Be clear in what you are trying to build 

Reason 9 reads “You spend too much time working in the business and not enough time working on the business”. This is a well worn cliché now, but it doesn’t mean that it isn’t true or that it isn’t important. Working in the business is about being involved in what the business does or what it makes. Working on the business is about developing that business to be what you intend it to be. Recruiting the staff, developing the systems, solving the problems, developing the people, analysing the numbers, planning the future. Probably not the things that fired you up to start the business in the first place. But if you aren’t doing these things the chances are they aren’t getting done. You are therefore likely to end up with a job rather than a business. Reason 9 goes on to say “Perm any of the first five points above and this will likely be the result” the first five reasons are; that you aren’t clear enough in what you are trying to build; you aren’t clear enough about how you add value; you spend too much time on the wrong things; you aren’t focussed on the important numbers; and you aren’t different enough. Any combination of these will likely result in you getting stuck in “doing the do” of the business rather than developing the business, which should be your number 1 priority.

Work on the business

Imagine, if you would, spending just one hour a day making widgets and compare that with spending the same hour a day figuring out how to make widgets cheaper, better, faster than everyone else. Now multiply the effect by the number of working days in a year and the number of years in your career. Which will yield the greatest results for you and your clients? If you choose to spend that hour making widgets you can calculate the cost of that decision. When you get to the end of your working life and find that you have had a job for the last twenty years and failed to build a business how will you view the cost of that decision then I wonder? Working in rather than on the business is a cliché now, I know, but avoid the temptation to dismiss the concept simply because you have heard it before. Take a piece of paper and work out how much time you actually dedicate to working on the business! Be honest! Is it part of your default diary or do you just try to squeeze a bit of time in here and there? Or can you honestly say that you insistently, persistently and consistently devote quality time to working on your business?-and on yourself for that matter? If you don’t, it may not be such a surprise that your business isn’t making the progress that it should.   

This reason may or may not apply to you. It is one of the 10 most frequent reasons businesses seem to stall or flatline.

I will be dealing with this and the other 9 reasons in my next seminar. Click here for details. Or Click here for details on the other 9 possible causes.