So what stops so many businesses from achieving the financial and time freedom that they know they went into business for in the first place?.
In my experience, most business owners do not spend enough time doing the long-term strategic work, also known as ON your business.
They spend too much time doing the day-to-day activities, which is working IN your business IN versus ON ON versus IN it is a concept that’s been around for years It was made famous by Michael Gerber in his excellent book “The E-myth Revisited”.
However, the key thing that I wanted to address in this week’s video is what stops so many people from doing that?
Doing the ON the business stuff In my experience, it’s because as a business owner your job is to build the right team because at the end of the day the IN your business stuff doesn’t evaporate there’s always going to be stuff to do Invoices need to be sent, customers need to be dealt with suppliers need to be dealt with, there are going to be problems that come up on a day-to-day basis.
As the business owner you have limited bandwidth and if you aren’t putting the right people in place or even using the people that are there effectively then all of that stuff is coming back to you and you become the key bottleneck that stops your business from moving forward.So if you want better financial results, you must work ON your business if you want your business to be more successful.
The only way to be able to do that is by “A” getting out of your own way and stop being a control freak, use the people that you have learn how to develop those people properly and “B” put the right resources in place If you do not have the right people to offload all of the day-to-day activities then you need to do something about it.
You need to come up with a recruitment plan that’s going to give you a very clear road ahead on how you’re going to resource your company properly so that you can spend your time and energy in the right places So ladies and gents you do not need a magic wand to help you get the results that you want from your business What you need is the right people that are doing the right things to give you the bandwidth and space to do the strategic work.
If you’re looking for more small business tips, then we’d like to see you every week on “Mind Your Own Business,”
Marco Soares is an award-winning business coach in Sussex and is available if you’d like help implementing these tactics.