Being an entrepreneur frequently means working without a template. Individual circumstances are always unique and, a result, one very common question is “am I doing this right?” This often arises in the context of day-to-day operations and the change in perspective that is required to move from working “in” the business to “on” it. Although it’s a transition that people often struggle with it’s also an essential shift to make. Otherwise, further down the line you may feel that – despite years of investment of time and money -, rather than growing a business, you’ve actually just been doing a job.
Doing a job vs. running a business
Doing a job, working within a business, is a key function but if you’re an entrepreneur it’s a trap. You may be used to being part of a wider infrastructure in a former role as an employee but it’s essential to break out of that mindset if you’re truly focused on success for your enterprise. Of course, this can take time. In the early stages there may not be much of a business to work on and all your time and energy may be spent working in it to build credibility, reputation and customer base. However, once a measure of stability is achieved it’s vital to begin consciously moving from working “in” the business to “on” the business. So, where do you start?
Four key questions
Although every situation is different there are four key questions that can help most owners to identify where they are in terms of working “in” or “on” the business.
1. Do you spend time planning? Working on the business means being its visionary, setting objectives and measuring and managing progress. This will necessarily involve an in-depth business plan but also ongoing strategising, such as regular forecasting and a 90-day plan, and setting metrics to quantify growth.
2. Could your business survive without you? If the answer is no then you are still very much integral to its day-to-day running and stuck within it. Although it can take time to get to this stage, the ultimate goal should be an enterprise that will still thrive even if you choose to take a step back.
3. Are you creating strategies? Two of the most crucial are marketing and recruitment. Defining the way that your business recruits and the type of team it builds will be key to growth and the culture you create. Equally essential is investing in, and defining, marketing strategy that will build reputation and drive sales. Both are key perspectives that someone working “in” the business simply won’t have.
4. Are you doing every task within every role? Delegation sets entrepreneurs free – if you’re micromanaging every single function then you’re stuck within the business. You’re also placing restrictions on what the business itself can achieve, as it will only grow as far as your own individual limits.
If you find yourself stuck “in” the business don’t panic. The perspective shift required to help you move to the next level is within reach. The support of a business coach can help you to identify the unique ways in which you may have been holding yourself, and the business, back and to start breaking free of old habits.