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As an ukbusinessupdates.com you are always busy by nature. You’re constantly on the move, whether you’re trying to acquire new customers or put out fires for your business. Even if you come home tired from a busy day, check your emails and work a little more. Then you get up and do it again the next day.
Over the years, surveys have shown that business owners spend far more than a 40-hour work week – often 50 or 60 hours. And while you may have a lot of great ideas to grow your business, you probably have a lot less time to execute them. While it’s a true labor of love, it often feels like you’re on a hamster wheel.
Unfortunately, these are all symptoms of being lost in your business. It is something that all entrepreneurs feel at one time or another, but it is a sign to stop getting lost in the daily hustle and bustle and start working on your business. This feeling can sometimes bring fear, worry, and even a loss of motivation.
Spending time working on your business is essential and looks different for every ukbusinessupdates.com. Let’s take a closer look at why it works on your business is so important and how to carry out this practice.
Related: To level up, you need to take a step back
Why it is essential to work on your business
It’s up to the company’s leadership—probably you—to set goals, consider the future, and find solutions to company friction. You are responsible for the big picture. You will be more genuinely motivated to grow your business than anyone on your team. But if you focus on day-to-day tasks instead of strategizing for future success, the business may suffer in the long run.
Instead of handling the regular tasks, start delegating them to other team members so you can spend time on projects that lend themselves to the bigger picture. Having the ability to trust others to get things done is essential to the longevity of your business.
If you get burnt out, you can’t run the business! While it may take some getting used to, it’s a necessary step to keep your business on track.
Related: Work on — not in — your business
What working on your business looks like
Running your business looks different than doing day-to-day tasks like working with clients, managing employees, or updating your website. Instead you will:
- Step away from the daily grind and think about your business. Instead of spending all your time on project-related tasks, make it a habit to spend time strategizing for your business. Spend 10-20% of your time on business development. Use this planned time to think ahead and outline plans for success.
- Write down goals. What are your goals for the company? If you have yet to have short, medium and long term goals on your radar, now is the time to create them. Studies have shown that actually writing down your goals increases your chances of achieving them. What do you want to achieve in the next one to five years? From there, you can break your goals down into smaller, more achievable quarterly or monthly goals and set calendar reminders to keep yourself on track. Invite a person you trust to be a sounding board for your goals and hold you accountable for executing them.
- Think about your role. If you’re used to working day-to-day tasks, it’s time to reevaluate your position as a business owner. Your job is to keep the bigger picture in mind and work on business moves to bring the company vision to life. How can you make adjustments to focus on the bigger goals you’re setting for the company? I had a client who was involved in all day-to-day aspects of the business. He was stressed and felt trapped in his position because he had no one he trusted to take on some of his roles. I suggested he start by giving some of the easier, time consuming roles to his employees. Once they’ve shown they can do that, they take on more complex roles and deliver them. This process took time, but the result was fantastic. Within a year he had more time, the company was more productive and they had accelerated growth.
- Document and delegate. Write down all the tasks that each person in your company must perform in order to be successful. Review these tasks regularly with each employee to make sure they are on the same page. They, like you, want to be part of a winning team and could be an important contributor to how they can succeed. These will be your most important meetings of the year. Leave room for flexibility, because as the company grows, roles can change and communication is key to continuous development.
- Hold yourself accountable. Making changes is difficult for everyone, including entrepreneurs. It’s helpful to have people and plans to hold you accountable. Review your goals and make plans to check in with yourself on a regular basis, such as setting calendar goals. Meet other business leaders about their goals. Are you on track to achieve your goals? If not, what can you do to get there? If necessary, consider hiring a business coach to hold yourself accountable.
Related: Lessons From Famous Founders: When It’s Time To Take A Step Back
As an ukbusinessupdates.com, it’s not easy to keep your hands off what happens to the business every day. After all, you are the one who cares most about the company’s success. But in the long run, spending time working on your business – rather than in it – will lead you to a more fulfilling, profitable, and enjoyable business and life.
