All business owners know they should be working more “on” the business than “in” it, but most never find the time as they are just too busy.
Some believe they must do everything and wear the martyr label as a badge of honour. They tend to do it all, even if they have staff. They may have tried delegating but end up doing most of the work themselves. They say “If I give the work to others it’s turns into a mess. It’s quicker to do it myself”.
Others have terrible work/life balances and tend to spend all their waking hours working, often to the detriment of home life.
This is not the way a brain surgeon operates. He has nothing to do with the running of the hospital or the operating theatre, he doesn’t even open the patient up - a junior surgeon does that.
Business owners need to identify a similar scenario in their business. That is, what is the most valuable part of the business for them to stay focused on? For example, effective marketing, improving customer relationships, etc – not bookkeeping entries. Virtually everything other than what adds real value to the business should be delegated.
The way you make this happen in the real world is through management systems. If policies, procedures and standards are in place, your staff know what is expected of them and are trained to do their work, then they are ready. This takes some work, but for a small investment of your time, the dividends are huge.
The problem with spending all your time “in” the business means the business will not grow because you are too busy to plan for growth.
When you know what is valuable to your business, and you place a value on your time, you will have more control over yourself and your business. You will spend more time with your customers, and more time working “on” the business. Ultimately, you will have a business that can run without you, and a better work life balance.
HOW CAN RSM HELP?
If you have any questions regarding your business, contact your local RSM office.