Working hard to resolve real-time challenges in your business is just part of being an owner – but sometimes, concentrating your efforts in the wrong places can potentially hold your business back.
Understanding the importance of working on your business, and not in it, will help you become a better leader and set your business up for growth and success.
Where Did the Day Go?
Falling into the trap of taking on every day responsibilities instead of delegating is easy to do. It starts with one or two regular tasks and slowly piles up until your to-do list overloads your week and doesn’t leave you any time to actually lead the company.
Building a successful business model and long-term strategy takes time and energy. To free up this time and energy, you must learn to trust other people in your organization to get things done.
The Big Picture is Your Responsibility
Without goals, plans to achieve those goals and a clear vision of what the future will look like, your business will stagnate. As the business owner, the responsibility for creating and implementing strategic planning falls squarely on your shoulders.
What Working on Your Business Looks Like
- You set short, medium and long-term goals. Then, you break the goals down into smaller, achievable, trackable accomplishments to set a course of action to make your goals a reality.
- You walk away from more day-to-day tasks by delegating these responsibilities, outsourcing or automating with technology.
- You purposefully allocate 10-20% of your time for business development.
- You focus less on immediate tasks/putting out fires and more on thinking ahead.
- You reevaluate your position in the company and take on more of a leadership role.
- You trust others to complete both mundane and complex tasks without supervision.
- You set up documentation and training protocols to assign responsibilities to employees.
- You hold yourself accountable for the business’s success in achieving your business vision and goals.
Ultimately, your end goal should be to reach a point where your business does not rely on you to do any of the day-to-day tasks that allows your organization to operate and deliver your product or service.
A Burnt-Out Leader Can’t Lead
Figuring out how to pull yourself out of the trenches and into a more strategic position at your business can be challenging, particularly at a small enterprise with limited resources – but if you don’t escape the endless stream of day-to-day tasks, you will eventually burn out.