Are You Working IN Your Business or ON Your Business?
Business Owners should learn to work ON their business. Recently, I met with a new client to talk about what he should expect with our business coaching relationship. Before I could share my coaching goals, he shared that he’s working 12-hour days, six days a week. He said that he misses his family due to working so many hours. His business has not grown, but his time at work continue to increase just to keep the company afloat. This business owner is a typical example someone working IN their business.
I knew that I had heard this story many times before. A strong-willed aggressive employee of a company works hard, learns the trade, and gets promoted to a management position. Eventually, that person decides that he start his own business. His goal was to work for himself, so he could set his hours. He wanted to make more money and be in control of his destiny.
Are You Working ON Your Business or IN Your Business?
Unfortunately, this guy had no idea how to start or manage a business. Therefore, the first couple of years was a real struggle, and it only gets worse as time goes on. In most cases, it is not a hard problem to fix. This owner lacked knowledge in areas that are vital to managing a business. Examples are: Accounting / Finance, Marketing, Hiring the Right People, Insurance, Income, and Payroll Taxes. To overcome these shortcomings, the owner needs to work ON his business.
These problems are resolvable if the business owner established goals for himself and his business. He needs to allocate time for himself to professionally grow as the company grows. He should take time to learn more about how to “manage” his business rather than his business managing him.
Are You Working ON Your Business or IN Your Business?
The key to change your lifestyle is to want to do it. There are plenty of training classes available to learn how to:
- Read a financial statement,
- Market your business efficiently,
- Good management procedures,
- Learn the best techniques for hiring the right person.
There is another solution, hire a Business Coach! If you own your own business, take the time to work on your business. You need to invest in yourself to become a well-rounded entrepreneur. Good luck!
My name is Robert Curry, and I am an Author, Business Coach, Keynote Speaker, and Turnaround Specialist. Over the past 20 years, I have worked with more than 70 companies taking their businesses from Loses to Profits.
Please click on the links below to read my other articles like Are You Working IN Your Business or ON Your Business?
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Employees are Your Greatest Asset!
Recently, I recently published two books about turnarounds: “From Red to Black – A Business Turnaround” and “The Turnaround.” Both books are true stories about turnarounds of real companies that I have turned around during my career. In both books, I have shared all my Profit Improvement Recommendations (“PIR’s”). PIR’s helped to grow sales, reduce expenses, improve cash flow, and most importantly, strengthen the management teams.
“The Turnaround“ & “From Red to Black”
