It’s that time of year when business owners are pulled in many directions. The end of the calendar year has a way of doing that.
Some of us are focused on the year we’ve had, some on this month’s performance (which could make or break the year), and some on the future.
While all of those things are important, it’s a good time to remind you of the difference between “working on vs. working in the business” and how important ON vs IN is to getting your business out of what feels like survival mode.
Working IN the business
Almost all of us do this to some extent. What exactly does it mean?
Working IN the business is about taking care of today’s production and quite often, dealing with the crisis of the day – whatever that might be. It’s about making sure clients are happy, products and services are getting delivered – and in some cases, taking part in that creation/delivery.
In short – this is you, the owner/manager, working as an employee of the business. There are times when this is essential and in the smallest of businesses – the solo business owner – it’s how you generate revenue. The thing you need to be cognizant of is making sure working IN time doesn’t become a substantial majority of your work time month-in, month-out, even if you’re the only one there.
If you’re an employee reading this, I hope your employer’s owner and manager(s) spend more time working ON, than IN, but this isn’t always possible. Sometimes, everyone has to knuckle down and get work out the door.
If you’re an employee who thinks they’re doing this – see what you and your peers can do to take even one thing off their plate without being asked. Every little bit helps. If you’re worried about overstepping your bounds, ask.
If nothing else, asking the question should send the message that you have the best interests of the business on your mind.
Working ON the business
Working ON is what allows the business to worry less about what’s happening next month, much less next week or tomorrow.
Why worry less? Because you’re doing enough working ON to be pretty confident that things are booked for that day, week and/or month.
How does a business worry? When you wonder how you’ll make payroll next month, you worry – and it’s reflected in your comments and actions. When employees notice things that tell them money is tight (or really tight), they worry – and it’s reflected in their comments and actions.
These comments and actions reflect on your business. They send a message to your client, your banker, your family (and your staff’s families) and others.
Working ON includes planning and executing, but it’s also very much about communications. Making sure everyone understands what will happen next month and the month after, how those impact the rest of the year’s plans is critical to getting everyone on board.
Are you simply too buried in working IN to work ON this month? If so, take a minute to make an appointment with yourself in your calendar later this month or early next month. Spend that appointment time planning your year so that this time next year, you’re spending more time working ON more so than working IN.
Some examples would be worthwhile, eh?
Since I talk about this fairly often, some examples of “working ON” would be useful.
Spend time on asking yourself these things:
- What can be systemized?
- What should never be systemized?
- What can you do to take the risk of purchase off of your client by providing them with a meaningful, no “but clause” guarantee that they’ll trust?
- Who are our best clients, how do we keep them, sell more to them, and find more like them?
- Who are our worst clients and how do we get rid of them? You know who the painful ones are. Either fix what’s wrong or get rid of them. They can poison your business.
- How can we avoid having letting the market and your customers beat down what we do into a commodity?
- What upsells and follow up offers can we make at the time of purchase that make sense based on what the buyer bought. Remember, the hottest buyer in the world is one in front of you. Did you satisfy ALL of their needs and wants?