Working ON Vs IN Your Business

One of the most profound lessons I’ve learned in my journey is the importance of working on your business rather than just in your business. This concept, brilliantly coined by Michael Gerber, who I had the great pleasure of speaking with on stage many years ago, is pivotal for any entrepreneur aiming for long-term success.

Defining the Difference

Working In Your Business: This involves day-to-day tasks, the essential but often mundane activities that keep your business running. These tasks include administrative roles, meetings, putting out fires, and handling immediate issues—everything that demands your attention right now.

Working On Your Business: This, on the other hand, is about strategic planning and growth. It’s the visionary, long-term focus that drives your business forward. It includes business development, marketing, and strategic planning. It’s about building systems, creating efficiencies, and expanding opportunities.

The Pitfalls of Working In Your Business

When you’re constantly working in your business, you can get stuck in the minutiae. You’re attending unproductive meetings, dealing with delegation issues, and handling urgent but not necessarily important tasks. This can limit your long-term strategy and growth.

The Benefits of Working On Your Business

Focusing on your business allows you to concentrate on your vision, innovation, and scalability. This is where you build systems and efficiencies and empower your team through coaching and delegation. Working on your business means you’re focusing on business development, marketing, and strategic planning—tasks that ensure sustainable growth.

Striking the Balance

Finding the right balance between working in and on your business is crucial. Most people spend the majority of their time working in their business. My hope for you is to shift towards a balance where you can eventually spend 80% of your time working on your business and only 20% on the day-to-day operations.

My Journey from In to On

I used to be heavily involved in the day-to-day operations, overseeing accounting, editing podcasts, and managing the website. While these tasks were important, they weren’t the best use of my time. I realized that my role as CEO of All-Star Dental Academy needed to shift towards focusing on big ideas and visionary strategies.

Now, I spend my time on podcasts, creating educational videos, and engaging in strategic planning. I support mastermind clients and work within a mastermind myself, continually seeking growth and improvement. I cultivate relationships with clients, motivate and praise my team, and delegate effectively.

Overcoming Challenges

Transitioning from working in your business to working on your business can be challenging. You might face analysis paralysis, fear of delegation, or burnout. Here are some strategies to overcome these challenges:

Time Management: Prioritize tasks that align with your long-term vision.
Delegation: Trust and empower your team, ensuring you have the right people in place.
Self-Care: Prevent burnout by taking care of yourself and learning to say no to unnecessary commitments.
Clarity: Be clear on your goals and priorities, focusing on what truly deserves your time.
Growth Mindset: Embrace challenges and continuously seek feedback and improvement.

Embracing Change

Stephen Covey’s time management matrix emphasizes focusing on what’s important but not urgent—this is on your business time. By concentrating on your vision and empowering your team, you can overcome setbacks and maintain clarity on your big picture goals.

In conclusion, balancing working in and on your business is essential for sustainable growth and success. By shifting your focus to strategic planning and long-term goals, you can create a thriving, innovative business that stands the test of time.

Remember, continuous improvement and adaptability are key. Embrace change, foster a culture of innovation, and always strive to be an All-Star in your business endeavors.