Mindset as a Business Strategy
3 things you need to know to build a conscious practice of working ON your business.
The Formula For Success
BE x DO = HAVE
WHY THE FORMULA FOR SUCCESS WORKS
BEING THE OWNER VS. DOING THE WORK
BEING = MIND
BEING a business owner is recognizing the importance of separating working IN the business, versus working ON the business. BEING a business owner is recognizing that time is a the limited resource. Intentionally making the time to analyze results, identify obstacles, and think strategically on how to continuously improve is an act of working ON your business.
DOING = BODY
DOING. These are the decisions and actions the owner takes, and the business implements, based on the owner's strategic thinking. Actions include, simplifying to determine what's most essential to the business now. Prioritizing to focus on only 2-3 strategies at a time. Executing consistently over time while measuring for results. Then as strategies gain traction and the business transforms, repeating this process over and over. With this practice your business will be on a trajectory of continuous improvement.
3 Tips For Building A Conscious Business Practice
YOU ARE NOT YOUR BUSINESS
Business owners must separate the BEING from the DOING. No matter how busy an owner is working in their business, they must recognize that business friction is usually an issue an owner must lean into rather than avoid. Devoting time to thinking deeper about problems facing the business and orchestrating changes needed to keep it healthy and growing. And as the leader of your business it’s your role to be strategic, analytical and forward thinking. BEING the business owner is not a task that can be delegated away.
SYSTEMS RUN YOUR BUSINESS
People execute the systems. Too often employees take the blame when most often the reason for business friction is the systems. Often it's because the systems have become the norm and changing them is hard. This is especially true when the owner works in the business daily. When they feel the strain of this friction they must recognize it's on them to search where it's coming from and refrain from placing blame. The owner must make quality time to understand the issue, analyze the situation, then decide what changes if any need to be implemented. Then hold others accountable to the new system and test and measure for results. It's here where emotions can interfere with the facts if the owner doesn't act accordingly.
THE TIME CONUNDRUM
While all humans have 24 hours in a day, time can be especially cruel to the business owner who also works in their business. Tired from putting in a full day's work, owners must now handle the things they and only they can do. The more they hold onto the less time they have to work ON what's most important for their business. An owner of a growing business cannot do it all alone. Whether it's delegating to another person in the business, or finding outside help, it's the best way for an owner to find the time to work ON the business, which only they can do. Another aspect of the time conundrum is that anything an owner discovers and chooses to implement takes time to implement, and then time to see the results. A business owner seeking to continuously get better and grow knows it's going to take more time than they want, and is committed to allowing that time, even when feeling the pressure to increase income.
Done By You
It's achievable to build a business all on your own. Using my resources and others you find, you might eventually breakthrough. DIY can save money, but it doesn't always mean it can help you make more money, and it's time consuming.
Done With You
This is for busy business owners still working in the business, and seeking solutions to improve their business knowledge. They know they don't have the time to learn all they need, and are open to exploring all resources to accelerate business growth.
Done For You
You may be able to hire and pay someone else to do the heavy lifting for you. While this is a viable option for some, it doesn't always translate into the best solution. Business growth strategies work best when the owner is engaged.
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By focusing on these 6 essential areas of your business, you'll simplify and clarify what your business needs most right now, and start a practice around improving those things.