Beyond the Grind: Work On Your Business, Not Just In It

Hey there, business owners! Are you feeling stuck in the daily grind of running your company? Do you spend all your time putting out fires and handling day-to-day tasks? If so, it’s time to learn about a game-changing idea: working ON your business, not just IN it. Let’s dive in and see how this approach can transform your business and your life!

Understanding the Difference

First, let’s break it down. Working IN your business means doing the everyday tasks – like serving customers, making products, or managing employees. It’s the stuff you probably do all day, every day. On the other hand, working ON your business means stepping back to look at the big picture. It’s about planning, improving, and growing your company.

Signs You’re Stuck Working “In” Your Business

How do you know if you’re trapped in the daily grind? Here are some clues:

1. You’re always putting out fires
2. You work long hours but don’t see much progress
3. You have trouble letting others handle important tasks
4. You never have time to plan for the future

If this sounds like you, don’t worry! Many business owners face these challenges. In fact, a study by The Alternative Board found that 72% of business owners would like to spend less time working IN their business.

Benefits of Working “On” Your Business

Now, let’s talk about why working ON your business is so important:

1. Your business runs more smoothly and efficiently
2. You have more opportunities to grow
3. You can achieve a better work-life balance
4. Your business becomes more valuable

For example, a survey by Salesforce found that small businesses that focus on strategic planning are 2.5 times more likely to experience significant growth.

The Covey Time Management Matrix

One powerful tool to help you shift your focus is the Covey Time Management Matrix. This framework, developed by Stephen Covey, helps you prioritize tasks based on their urgency and importance. Let’s break it down:

1. Quadrant 1: Urgent and Important These are crisis tasks that need immediate attention, like meeting a critical client deadline or resolving a major issue that could impact a client’s busine
2. Quadrant 2: Not Urgent but Important This is where you want to spend most of your time. It includes activities like strategic planning, relationship building, and personal development
3. Quadrant 3: Urgent but Not Important These tasks often feel pressing but don’t contribute much to your long-term goals. Examples include some meetings, phone calls, and interruptions
4. Quadrant 4: Not Urgent and Not Important These are time-wasters that don’t help you achieve your goals, like excessive social media browsing or unproductive meeting

By using this matrix, you can start to prioritize tasks that truly matter for your business’s growth and success.

Strategies to Shift Your Focus

Ready to make the change? Here are some strategies to help you work ON your business:

1. Time Management: Set aside specific times for strategic work. Maybe it’s two hours every Monday morning or one full day each month. Use the Covey Matrix to prioritize your tasks during this time.
2. Develop Systems: Create step-by-step guides for common tasks in your business. This makes it easier to train others and ensures consistency. For example, you could create a detailed process for handling customer inquiries or managing inventory.
3. Delegate Effectively: Trust your team to handle more responsibilities. Start small and gradually increase their duties. Remember, delegation is key to freeing up your time to work ON the business.
4. Strategic Planning: Set clear goals for your business and create plans to achieve them. This might include developing a five-year growth plan or identifying new market opportunities.
5. Continuous Learning: Invest time in learning new skills that will help you grow your business. This could be attending workshops, reading industry publications, or taking online courses in areas like marketing or finance.

Overcoming Challenges

Making this shift isn’t always easy. You might feel scared to let go of control or worry that no one can do the job as well as you. That’s normal! Remember, it’s a process. Start small and build trust in your team over time.

Some common challenges you might face include:

• Fear of delegation: Start by delegating small tasks and gradually increase as you build confidence in your team.
• Difficulty prioritizing: Use the Covey Matrix to help you identify what’s truly important and urgent.
• Lack of time: Begin by blocking out small chunks of time for strategic work and gradually increase as you see the benefits.

Success Stories

Let’s look at a real-life example. Sarah owned a small bakery and worked 16-hour days, doing everything herself. She was exhausted and her business wasn’t growing. After learning about working ON her business, she made some changes:

1. She created recipe books so others could bake consistently.
2. She hired and trained staff to handle daily operations.
3. She spent more time on marketing and planning.
4. She used the Covey Matrix to prioritize her tasks, focusing more on Quadrant 2 activities.

Within a year, her sales doubled and she cut her work hours in half!

Another example is Tom, who ran a small software company. He was constantly coding and dealing with customer support, leaving no time for business development. After implementing the strategies we’ve discussed:

1. He created detailed documentation for his software, making it easier for others to help with support.
2. He hired a developer to handle routine coding tasks.
3. He used the Covey Matrix to prioritize his time, focusing on strategic partnerships and product planning.

In just 18 months, Tom’s company grew from a solo operation to a team of 10, with revenues increasing by 300%.

Action Steps to Get Started

Ready to give it a try? Here’s how to begin:

1. Assess Your Situation: Write down all the tasks you do in a typical week. Be honest and thorough.
2. Use the Covey Matrix: Categorize your tasks into the four quadrants. This will give you a clear picture of where you’re spending your time.
3. Identify Improvements: Which tasks could be systematized or delegated? Look for patterns in your Quadrant 1 and 3 tasks that could be eliminated or reduced.
4. Create a Plan: Set goals for shifting your focus over the next 3-6 months. Be specific about what you want to achieve.
5. Start Small: Choose one task to delegate or one hour a week to dedicate to strategic planning. Build from there.
6. Review and Adjust: Regularly review your progress and adjust your approach as needed. What’s working well? What needs improvement?
7. Invest in Tools: Consider using project management software or time-tracking tools to help you stay organized and focused.

Remember, working ON your business doesn’t mean completely stepping away from daily operations. It’s about finding a balance that allows your business to thrive and grow.

Measuring Success

As you implement these changes, it’s important to track your progress. Here are some key performance indicators (KPIs) you might want to monitor:

1. Time spent on strategic activities vs. day-to-day operations
2. Business growth metrics (revenue, customer base, etc.)
3. Employee satisfaction and productivity
4. Your own stress levels and work-life balance

According to a study by the Harvard Business Review, companies that regularly engage in strategic planning are 12% more profitable than those that don’t. By tracking these metrics, you can see the tangible benefits of working ON your business.

Breaking free from the daily grind can transform your business and your life. By working ON your business, not just IN it, you can achieve greater success, enjoy more free time, and build a company that thrives even when you’re not there. It takes time and effort, but the rewards are well worth it.

So, are you ready to take your business to the next level? The choice is yours – stay stuck in the grind or rise above it. Remember, every successful business owner has had to make this shift at some point. Why not start today? Your future self (and your business) will thank you for making the change!

Kevin Toney is “the Marketing Coach” He helps small businesses and sales professionals attract new customers, boost repeat business, and generate a steady flow of referrals. Book your FREE 40-minute marketing strategy session today to uncover your business’s hidden growth potential. You could be losing hundreds of dollars in sales due to marketing blind spots. Don’t wait—visit MarketingCoaching.ca to get started.