Working in your business, particularly in the early stages, can be essential and, in some cases, preferable. However, there are scenarios and reasons why you might want to avoid working in your business and consider working on it instead.
Here are some reasons why working in your business might not be the best approach in certain situations:
1/ Lack of Scalability: If your business model relies on your personal skills, expertise, or labour, it can be challenging to grow without significant limitations. In such cases, working in your business may seem to be the only option, however finding the right solution will allow you to grow.
2/ Time Constraints: In a small or start-up business, you might wear multiple hats, including handling day-to-day operations. This is often necessary due to limited resources and personnel. As your business grows, you may be better positioned to delegate and shift your focus to working on the business.
3/ Expertise and Passion: Some business owners are deeply passionate about the core activities of their business and are experts in their field. In such cases, working in the business is not only enjoyable but also ensures a high level of quality and authenticity in the products or services. In order to grow or scale a new mindset will need to be adapted.
4/ Quality Control: In industries where quality control is of utmost importance, business owners may prefer to work in their business to maintain direct oversight and ensure that their high standards are consistently met. Introducing standard operating procedures can over come this scenario.
5/ Client-Centric Businesses: Businesses that rely heavily on personal relationships and one-on-one interactions with clients or customers (e.g., consultants, personal trainers, therapists) may find that working in the business is essential for maintaining strong client relationships. Adapting a different approach and implementing systems and standard operating procedures will combat this.
6/ Limited Budget: Small businesses with tight budgets might not have the financial resources to hire employees or contractors to handle specific tasks. In such cases, business owners may have to perform those tasks themselves. By shifting to implementing relative marketing activities can help to expand the business.
7/ Initial Stages of Business: Owners often need to be deeply involved in day-to-day operations to gain a deep understanding of the business, its customers, and its challenges. By putting systems in place can help claw back time needed to spend on the growth of a business.
8/ Hands-On Learning: Some entrepreneurs prefer to gain hands-on experience in various aspects of their business before delegating or outsourcing tasks. This can provide valuable insights and skills that can later be applied when working on the business. By setting up policies and procedures early on can save a significant amount of time later on.
9/ Industry Regulations: In regulated industries, business owners may need to be directly involved to ensure compliance with industry-specific regulations and standards. By adapting a strict policy and procedures with a standard operating procedure can and will save time down the road.
10/ Personal Fulfilment: Working in the business can be personally fulfilling for some entrepreneurs who take pride in their craft and enjoy being directly involved in the work. However this can lead to burn out and frustration due to the repetitiveness but also halt the expansion of a business.
It’s important to recognise that the decision to work in or on your business is not one-size-fits-all. The best approach depends on your business model, goals, resources, and personal preferences.
In many cases, a combination of both, where you work in the business when necessary and on the business to drive strategic growth, may be the most effective approach. As your business evolves, you can reassess and adapt the necessary mindset for your role accordingly.
If any of the above is something you need help just shoot me an email firstname.lastname@example.org or connect on FB https://www.facebook.com/barrylynchs and I will share some free resources.
To your success.