As a small business owner, it’s easy to get caught up in the day-to-day grind. From managing customer requests to handling inventory, there’s always something demanding your attention. But while it’s important to keep things running smoothly, focusing too much on the daily tasks can cause you to lose sight of the bigger picture. That’s why it’s essential to spend time working on your business, not just in it.
What Does It Mean to Work On Your Business?
We know you’ve heard that saying before, but what does that mean exactly? It means investing time and energy into building a business model and strategy, not just completing day-to-day tasks. After all, a successful enterprise needs both short-term goals (hitting sales targets) and long-term objectives (developing new products/services or exploring new markets).
But, this is particularly challenging for small business owners to accommodate. Without sprawling administrative teams, these leaders often have no choice but to put out fires and focus on the immediate rather than the important. With limited resources, escaping the day-to-day tasks and taking a more strategic view can be almost impossible: there is often no one else to take on the immediate tasks.
According to Rachel Siegel, founder of Go Figure Accounting, working in your business means handling the immediate tasks that keep your business afloat—processing orders, responding to emails, dealing with customer service issues, etc. These tasks are crucial, but they’re also reactive. You’re putting out fires as they arise rather than planning how to avoid them in the first place.
“You need to have systems in place that will allow you to step away from the day-to-day details and focus on the long-term,” she says. “This could involve delegating tasks to other staff members, outsourcing whenever possible, or utilizing software solutions that automate low-level tasks.”
Indeed, working on your business is about taking a step back to look at the broader picture. It involves strategic planning, setting long-term goals, and thinking about how to grow and improve your business.
This might include tasks like:
Developing a marketing strategy: Instead of just running ads as needed, take time to think about your brand, your target audience, and how to reach them effectively.
Streamlining processes: Look for ways to make your business more efficient. Are there tasks that could be automated? Are there better tools you could use?
Building your team: Consider your staffing needs not just for today, but for the future. What roles will you need to fill as your business grows? How can you develop your current employees’ skills to meet those needs?
Financial planning: Rather than just keeping track of your expenses and income, work on a financial plan that helps you understand where you want to be in five years—and how you’re going to get there.
Why It Matters
When you’re only working in your business, you’re stuck in a cycle of reaction. This can make it hard to see opportunities for growth or to pivot when the market changes. Working on your business helps you break free from that cycle. It allows you to be proactive, to plan for the future, and to build a business that isn’t just surviving, but thriving.
How to Get Started
Start by setting aside time each week to focus on strategic tasks. Even an hour or two can make a big difference. Use this time to assess where your business stands, identify areas for improvement, and set goals for the future. It might feel strange at first to step away from the daily hustle, but in the long run, this is the kind of work that will take your business to the next level.
Remember, your business should work for you, not the other way around. By investing time in working on your business, you’re setting yourself up for success and creating a foundation for sustainable growth.
