Working ON Your Business vs. Working IN Your Business: Let’s Break it Down

Ever caught yourself thinking, "I need to work more ON my business rather than IN it!"? You might've heard it from a friend, a fellow entrepreneur, or even from that little voice inside your head. Today, we're diving deep into what that really means and why it’s crucial for your success.

First things first, if this is your first time stumbling upon my blog, hey there! So glad our paths crossed. For the loyal returners, my heart feels so warm to see you back.

From Passionate Entrepreneur to... Glorified Employee?

According to the E Myth's Michael E. Gerber, “If your business relies solely on you, you don’t own a business; you have a job.”

Yep, you heard that right! A lot of us leave the 9-5 grind, armed with passion and a dream. But the trick is not to end up trading one job for another. And that’s precisely where the difference between working ON your business and working IN it comes into play.

The Big Difference

To put it simply:

• Working ON your business is all about stepping into the CEO's shoes. It’s about creating a strategy, being the visionary, setting the direction, and creating a flourishing ecosystem.
• Working IN your business, on the other hand, is the day-to-day grind, executing tasks, and handling operational bits.

Examples Time!

So, what does working ON your business actually encompass?

1. Business Development: Stay updated with industry trends, competitors, and everything shaping your industry.
2. System & Processes Building: Have a SOPs? Check. Workflows? Double-check. Consistent and clear processes? Triple check.
3. Financial Analysis: Monitor cash flow, revenues, and expenses, and basically know where every cent is going.
4. Marketing & Branding: Stay on top of your brand voice, and your target audience, and ensure you’re continually refining your brand strategy.
5. Sales Strategy: Have a sales funnel, process, and targets set.
6. Employee Development: Build a rock-solid team. Delegate, trust, and grow together.
7. Customer Service Strategy: After-sales is just as vital. Ensure client satisfaction and retention.
8. Legal & Compliance: Make sure your business is legitimate and protected at all times.

Now, in contrast to the above with tasks like opening the office, answering calls, or checking emails. See the difference?

Unchaining Yourself

So, how do we shift from being tied down to scaling? My personal trick?

The Golden Hour.

Dedicate an hour each week, preferably at the same time, to strategize. Look at your business from a bird’s eye view, and soon enough, you'll notice the shift. It might not happen overnight, but steadily, you’ll move toward becoming the CEO you're meant to be.

Tim Ferriss' Two-Hour Challenge

If you could only spare 2 hours a week for your business, what would you do? Most likely, not the mundane tasks, right? Focus on the big picture stuff - like team development and strategy.

If someone else can do a task, delegate it. Your role as a business owner is to work ON the business, leading it to success. So, challenge yourself. Pick one category, dedicate an hour a week, and see the transformation unfold.

Share with us in the comments below:

When is YOUR golden hour, and what's the first category you'll tackle?

Got questions? Ask away! Don’t forget to like, comment, and subscribe. Let’s grow together!

Until next time, keep going… I am here cheering for you! 🚀

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