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By Garry Hojan
Thank you for this question; it resonates with me because of the many owners I’ve worked with that have expressed a desire to do exactly this, but won’t.
I chose the word “won’t” over “can’t” specifically because it’s the reality. I’ll explain that in a bit, but first let’s talk about what “in” and “on” mean.
Working “in” the business involves performing the day-to-day tasks that keeps the business running, such as making phone calls, preparing orders, or providing customer service.
On the other hand, working "on" the business means focusing on strategic, long-term activities that develop the company.
AI suggests this includes business planning, marketing strategies, business systems and product development, which is not a bad idea.
But here’s the first thing I look for when someone asks me about working on their business.
Have they chiseled crystal clear core values (who they are), mission (why/what), vision (future picture of their why/what), and goals (how/what to get to their vision) into foundational granite blocks to build on, or did they scatter some sand, or nothing at all, on the ground to build on?
There are many foundations. The granite one above, when completed with a real investment in getting it right, will statistically outperform every other competitor in the same realm that has not done this work. It has been studied, tracked, and proven.
Two-thirds of business owners (68.1%) do not work "on" their business to create the strategic foundation and work "on" that foundation. The same survey shows that 40% of business owners admit to either having an ineffective annual operating plan/budget or none at all.
Why is that? Especially when it’s statistically one of the best markers of successful businesses?
I study business successes and failures. I read studies from those who study it. I observe and work with those within my network and those outside it. I’m introspective on my own businesses and myself. I have been close to billion-dollar losers and billion-dollar winners, mom-and-pop shops, and nearly every size and type of enterprise in between.
The absolute number one differentiator between levels of success in all businesses, whether private or public, is the leadership's perceptions and beliefs. And the more isolated the leader, for instance, with no board or shareholders to answer to, the more profound the effect on the business.
Most who choose not to work on their business will say they are “too busy” to get unbusy, not quite like that, but that’s the most frequent response I hear.
“Garry, you have no idea about my business and how busy I am.”
“I’m already putting in 50, 60, 80, hours per week, I couldn’t squeeze out another minute if I tried.”
“My business is unique; it requires all my attention.”
Insert any other reason for not being intentional about working “on” your business.
And here we start getting into why I say “won’t” vs. “can’t.”
To the 68.1%, you could move from working in the business to on the business but choose not to.
That’s a tough message for me to deliver, mainly because I am also delivering it to myself as much as to you.
When it comes to your success, delivering sunshine and rainbows has its place and time, but I care too much about you not to deliver a dose of reality now and then if it will help move that needle towards what you truly want.
And you know what, you may have very valid reasons, but you must be honest about what you want and what’s important to you.
While working with many owners who want to make this transition, I've found that when I drill down to find the root cause, I often get myriad answers that boil down to simply not doing what is actually needed to make this transition, as it is not considered important enough for them to take action.
I’m not trying to be condescending when I say, “Life’s about choices.” We all must choose what’s important to us. Once we determine what’s important to us, we categorize where we spend our time by what is more important to us over things that are not important, less important, and even equally important.
Your faith is, or may not be, important; your family is important; your business is important. You can include things like community, hobbies, customers, money, prestige, sex, power, revenge, respect, and love - pick your priorities.
We could go through Maslow’s hierarchy of needs and unpack the psychological aspects of why we pick certain things as important and others pick different things as important to them and completely different from us, but that’s a book, not a newsletter.
The bottom line is we choose our “important.”
Is it important to answer those two hundred emails? Is it important to take customer calls? Is it important to make that order or provide that service? Is having a strategy for your business important? Is date night important? How about your daughter's recital? Is it important to give back to the community? Is it important to take care of yourself? Is it important to create a great work culture?
So which one’s the most important? For most of us, there are quite a few that we consider equally important.
Now, which one do you do on Tuesday at 3 p.m.? All of them? If you could, but here's the rub, you can't, so what do you do? You make choices. Including planning for those things that are important, or flying by the seat of your pants and reacting as they pop up, or some combination of the two. Most of us do the latter.
To work “on” instead of “in” your business means you must choose that it has more importance than some of the things you are working “in” the business and managing those “in” things better so you can take the time to work “on” the business…read it again.
It requires you to be intentional. It isn’t going to happen by hoping, wishing, wanting, waiting for things to get better, or even believing it is the most important thing. It will require you to intentionally do the things necessary to make it a reality.
It requires you to make the decision to not only say “on” is important, but it also takes the time and resources needed to make it happen.
One last thing overall on the “too busy” thing. Do you and all your competitors have the same time in a 24-hour day? Yes.
Yet, I can pick any industry and point out the top dog in that space, and usually they have their poop in a group and a well-crafted plan that they are executing on.
Look, we’re all busy; most of us believe we’re somehow busier than the next person. So, how do you get anything done? You choose. It’s okay to choose not to, but don’t make excuses; choose to do it, then do it. (stepping off my apple crate now).
Okay, how?
All of the above was about importance and taking the time to cultivate it in a “too busy” environment.
Part of the reason that it's so hard for owners is because of their time management of what’s truly important vs what’s urgent and unimportant (in the grand scheme of their business).
The Advisory Board Business Pulse Survey reveals that business owners allocate only 34% of their time to activities that are both important and urgent. The activities that owners should spend the majority of their time on.
Owners were asked what activities they spend time on, and 32% of their time is spent on email/web browsing. This compares to 25% being spent on employee interactions and 21% on customer interactions.
Asked which areas they are wasting or losing the most time on, they responded with emails and administrative tasks, unscheduled communications (33%), waiting for information (22%) and personality issues (16%).
They were also asked to identify areas where they could improve to gain more productive time. The questions were asked on a scale of 1 to 10 (most important). Below are the percentages of respondents who rated that item at 8 or above.
- Spend more time completing truly urgent tasks: 77%
- Hold employees accountable to actual results: 68%
- Spend more time improving my skills as a business owner: 59%
- Delegate administrative tasks: 56%
- Stop working below my pay grade: 44%
- Prevent employees from “upward delegating” tasks to me: 41%
- Spend more time away from the business: 41%
The owners also believe they would be more productive by:
- Having fewer distractions: 45%
- Establishing monthly/weekly/daily tasks and deadlines: 28%
- Operating from a formal strategic plan: 19%
When asked what areas they would spend the freed-up time, they indicated the following:
- Marketing/PR/Sales: 32%
- Strategic Planning: 24%
- Product/Service Development: 15%
- Strategic Partnerships: 11%
Interestingly, the value, if owners were able to work more strategically on the business, they rated the following areas as having the greatest benefit:
- Creating New Opportunities: 33%
- Growing Revenue: 31%
- Achieving Better Work/Life Balance and Personal Growth: 17%
Can you relate? You may be saying nice stats, but how do I do that?
I’ve written before about what this looked like to me personally and practically.
I had a mentor who challenged me by saying it would be the hardest thing I would have to do, but if I wanted him to continue mentoring me, I would have to agree to do it.
He said I want you to pick a day of the week. Mondays are good, you're fresh and thinking about the business. Don’t go into the office. If you work from home, go out.
Start your week away from the business, go out for breakfast or coffee. Put your phone in do not disturb mode. Do not look at emails.
Let your associates know you are not to be contacted during this time. Let the establishment know you will be there for four hours (buy something).
If you get distracted easily, bring noise cancelling headphones. Bring a notepad. Only bring a laptop if you can do work “on” your business without being tempted to check email or any of the computer rabbit trail distractions.
Do this every week for at least a year. I blubbered on about being busy making tons of excuses. He reassured me this is important, and I have to decide to do it…or not. I begrudgingly agreed to do it.
He was right, the hardest thing for me to do.
Hands down, it was also the best thing for the business and funny enough, with all the clarity, improved growth, and profitability, it also kept paying compounded time dividends back because of the clarity and no longer wasting time “in” the business.
Need help getting to a place of working on your business instead of in it? Let’s chat.
Never any sales pressure, a no-charge initial consult, and a simple zero risk guarantee…you receive higher value over cost, or you don’t pay.
You can email me at ghojan@jhaero.com or call my cell at 208-627-2565.
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