Working in vs working on your business

Many small businesses begin as one person operations.  Someone is led to leave their job to begin their own company, and often that company consists of the entrepreneur.  Much of that person's time is spent working in the business.  That is understandable, but as long as the owner is simply working in his or her business that business is not likely to grow.  It is very important that the owner of a small business spends as much time as possible working on the business.  What does working on one's business consist of?

• It involves developing a vision for the future of the company.  Such a vision will give you a preferred picture of what your company will look like 5-10 years from now.
• It involves doing strategic planning that will take your business from where it is today to where you envision it will be in the future.
• It involves keeping a close eye on your financials and responding quickly to any negative changes you find happening.
• It involves developing and improving your relationships with vendors, customers, and the stakeholders in your company.
• It includes you becoming involved in community activities that will provide your company with good exposure and provide you with an opportunity to give back to the community that is supporting your business.
• It involves you getting to know your competitors better than they know themselves so you can differentiate yourself from them.
• It involves you providing leadership to your team.
• It involves just about anything that will help your business go to the next level.

Obviously, if you are the person who stocks the shelves, cleans the restrooms, answers the phone every time it rings, runs the service calls, writes out the checks for the bills, files the invoices, installs the new equipment you are working in your business and unable to spend much time doing the above activities.  You may have to do all these things when you are starting out, and as a small business owner you will still do these things occasionally, but you must move from working in your business to working on your business as quickly as possible or your company will never become what you dreamed it would when you started it.  For more information on how to work on your business I encourage you to read my latest book on your NOOK or NOOK app.