You may ask yourself, “what is the difference between working in your business and working on your business?”
When you work in your business you are typically filling a role or position in the daily activities of the business operation, i.e. cashier, sales person, accountant, buyer, etc. You fill your day with activities that are position-focused.
Working on your business is when you are able to look at the big picture and remove yourself from the day-to-day operations and focus on the business as a whole. When you work on your business, you are analyzing past performance and identifying trends and evaluating new strategies to help the business run more efficiently. You are able to investigate ways to lower costs and increase revenue. You are able to do the things that allow you to build a sustainable business.
There are things you can do to help you work on the business more:
Staffing properly and having people you can trust and count on
Utilizing technology to streamline process and gain efficiency
Get help and advice from people who are successful in your industry or find a consultant that can provide guidance.
Do not underestimate the value of your time – When you are on the sales floor you may think you are saving the $10 hour you would be paying another employee, but it could be costing you because you aren’t getting the most value from your time as you could be.
Technology like a POS and inventory control system can substantially increase your ability to analyze your business performance and make better decisions. Check out our resource How to Choose a POS for more information about using technology to your advantage.
Start today and work on your business more than you work in your business. You will be amazed with the results and how much you can effect positive change.
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