It’s almost a cliché now: “Work on your business instead of in your business”
If that’s new to you – it’s quite an eye opener. The idea that as business owners, we’re so involved in everyday execution that we don’t spend time to work on the strategy and tactics that will drive our businesses forward.
Michael Gerber’s classic “E-Myth” books teach how to document business operations into systems – so that the day to day running of the business can be outsourced or delegated – allowing the business owner to concentrate on marketing and innovation.
Not all businesses are ready for outsourcing or delegation – but putting aside at least a few hours a week solely to work on your business is a good start.
But here’s an interesting observation…
Even when business owners are prepared to let go (at least in part) of daily execution – the ‘technician’ role as Gerber describes it – they often fall into the same role working on their business.
Working on your marketing is imperative; but for many business owners that manifests as trying to build their own website, learn how to manipulate code, configure email auto-responders and make all the technical aspects of the online and offline marketing work effectively.
They immediately submerse themselves at technician level, fighting in the trenches instead of planning the battle.
Perhaps some of this is due to the cost of hiring outside help. But is it the cost, or the price that’s the problem?
What’s your own time worth per hour?
What’s the Lifetime Value of a customer?
What does it cost to acquire a new customer?
If you can’t answer these questions – I’ll bet you’re in the trenches too.