Do you sometimes get to the end of the week and feel underwhelmed with your achievements? Do you feel overworked? Underpaid? Unable to see how things will ever get any better?
One of the most important things is to make sure you look at the bigger picture and look at achieving a balance. By spending at least 25% of your time each week working ON your business can help you to think strategically for the long term and get you into the “idea” of expanding outside your current comfort zone.
I adopt the Pareto principle when working on my business which ensures that 20% of my effort gives me 80% results on return. But, it does raise the question - if you’re not evaluating what’s working and what isn’t, how will you ever know what your 20% is?
For me in my business, evaluation means sitting down on a weekly basis to crunch the numbers. So what model do I use to measure the success of my own business:
Revenue and profit: Is my business model serving my lifestyle and leaving plenty left over to re-invest in growth?
Creative output: Am I doing client work that challenges and inspires me?
Quality of life: Does my business support my health and wellbeing and enable me spend time with friends, and care for my dependent elderly family?
I need to be crystal clear on what ‘healthy’ looks and feels like so I am constantly evaluating and making changes as necessary to get back on track. I want my business to serve MY lifestyle, not the other way around, so its important that I measure its performance.
I have worked in education and training for over 35 years but whatever business you are in, we are all in the relationship-building business. Working ‘on’ your business means looking ahead, nurturing warm leads, and building great relationships with people before you need them. So, by spending 25% of my working hours on business development will help me achieve my business vision and goals.
As a business owner, I am 100% responsible for my training, education and personal development. Without investing in myself, my business or career cannot grow. As a business owner yourself, you will know that success doesn’t happen because your external circumstances get better, it happens because you get better!
Give yourself a regular reminder:
Working ‘in’ your business is spending time managing your business as it is today.
Working ‘on’ your business is investing time so your business can be better tomorrow.
#business #success #mindset #growth
