The first in a six-part blog series about how to work 'on' your business rather than 'in' your business, this post shows you how to create a thriving business while achieving your personal financial goals.
Instead of working harder, we'll show you how to ask yourself the right questions and put together a strategy for success.
To ensure your business continues to flourish into a profitable company, a growth strategy is essential. A deep understanding of each aspect of the operation, which areas need to be focused on, and having a long-term vision, are all key elements of success.
While it's straightforward enough to understand these concepts, stepping outside of your day-to-day role and redirecting your focus in this way, can be difficult.
The thing is, you can't grow your company and reach that elusive next level, if you're involved in every detail of its daily operations. Working harder yourself will not improve your business, instead, it will simply leave you exhausted and frustrated.
If you know your business goals, but don't have a plan to get there, or are struggling to find the support and information you need, this is the blog for you.
Our newest infographic provides a helpful approach for business owners preparing to implement a growth strategy.
On vs In: How to grow your business without working harder yourself, includes key ways to step back and progress your business, including; better marketing, finding new opportunities and even how to make more time to relax with those you care about most.
In the infographic's first section, "Think you need to know all of the answers vs Hire to bolster your weaknesses", we look at how trying to do everything yourself can limit opportunities to gain new perspectives, ideas and approaches.
All too often as a business owner you feel like you have to portray the image that you have all the answers. In fact, it's much more productive to honestly appraise and admit your weaknesses and hire staff who strengthen them.
Some simple ways to start this process are:
- Developing a talent for introspection. To move your business forward, you first need to know your abilities as a owner and leader.
- Hire a competent business leader who will give you an accurate and honest reflection of yourself, your strengths and weaknesses.
- Weaknesses don't need to block success. Focus on your strengths and bring in employees and advisors who can take over your weaknesses.
Remember, you need to be willing to put your ego aside. Instead of feeling threatened by those who have different skill sets to you, trust them to lead you in certain areas.
Creating a successful and profitable business is a process that takes time and a willingness to try new things and experiment. Doing so will open you up to all kinds of possibilities. Your business is unlike any other so what works for someone else isn't necessarily right for you.
What's important is to create a space where you can truly understand what your organisation needs and use all of the resources available to build a strategic plan that will get you there. So step outside of your daily role and start focusing 'on' rather than 'in' your business.
Making this transition will allow you to grow a thriving, profitable organisation.