You may stop and read the title in confusion. Is there a difference between working on your business versus in your business? If you cannot feel the difference between the two, then you must keep reading this article because most likely you are working in your business.
Let me play the mind reader a bit and attempt to describe your daily activities. Your schedule is so cluttered that you never finish all the tasks, even if you spend long hours at your office. You feel overwhelmed by all the things you have to do, and you are constantly reacting to situations instead of planning ahead of time.
Have I guessed correctly? Hey, don’t panic, I am not an actual mind reader, I’ve just met and helped many business owners stuck in this situation: working in their business, not on it. And, after understanding what keeps them from achieving their vision of success, I’ve devised a five-step process to help you stop working IN your business. I call it the 5P Plan:
Being capable of setting priorities is a must for every kind of professional, not just business owners. When you run a business, however, it is critical. You need to be able to identify those tasks which pertain to the core activities of running your business such as developing and improving your products, identifying new target customer groups, creating a sound marketing strategy and developing a scalable business plan.
Setting priorities helps you to have a clear and uncluttered daily schedule: not all tasks need be done on that day or by you.
Business processes are the fingerprint of each company. Why do we have successful companies selling the same type of product? Each of them has different business processes, appeals to other types of customers, and attracts different types of investors and employees. You must identify, write down and constantly implement your specific business processes and make sure that all your employees know and apply them consistently.
Without using these core processes throughout your business in every specific activity, your company stops being unique and original in its niche. You lose the business vision and you stop being relevant.
Employees… they are supposed to help you grow your business. But how can you entrust them with your business vision? How can you make them see the business the way you see it and do things the way you want them done? This is the main argument of business owners who are unable and unwilling to delegate tasks.
However, have you considered the fact that some people, whom you recruited, may be even better than you at certain tasks and they may bring creative and efficient solutions to your problems? This is the main reason why you hired them. So don’t be afraid to delegate tasks.
Projects are not important or unimportant. Treat them all as important. The only kind of proper classification is: started, ongoing and completed. Why is this type of classification important? Because it will help you clear your desk of folders and your computer desktop of files. By properly labelling your projects, you can prioritize them, archive them and follow up on them. And this will save you a lot of time and help you get a clearer view of your company’s workload.
Advertising is at the core of any successful business. If you don’t advertise, your business will dwindle away. If you don’t advertise properly, your business will lose money and dwindle away. The only adequate way of advertising is by delegating this activity to professionals who know how to do it for an affordable price for you.
Now you know the 5P Plan. Start using it and you will work ON your business, not IN it.