How To Spend More Time

I recommend The E-Myth Revisited to all my business coaching clients.  The author, Michael Gerber, makes a valuable distinction about a business owner’s use of time in a business.  He breaks it down into time “in” the business versus time “on” the business.  Time in the business is the time you spend hands-on delivering the product or service of your business.  Time on the business is the time you spend building and supporting the business itself.  Most of my business coaching clients are spending entirely too much time working in their business when I first begin coaching them.  It’s something we usually work on early on.

Why would you want to spend more time working on your business than you currently do?  Because:

• As the leader of your company, your job is bigger than just working in the business.
• It’s hard to build a business when you spend all your time working in it.
• You will not be able to sell your business if all your time is spend working in it, because it won’t be able to survive without you.
• You are likely to burn out if you work in your business all the time.
• You will have a hard time seeing the big picture if your head is always  in the business.

Here are some business coaching tips to help you spend more time working on your business, rather than in it:

Business Coaching Tip # 1: Track your time for a week. No one wants to do this, but it’s really valuable.  Track your time and see your ratio between working in versus on your business.  Many of you will be shocked at how little time you spend on your business.

Business Coaching Tip # 2: Be willing to move outside your comfort zone. The reason most business owners cling to working in the business is because that is what they know how to do.  They know a lot more about how to deliver their product or service than they do about how to build and run a business.  So, they stay where they are comfortable.  I tell my business coaching clients that to build a successful business, and not kill yourself in the process, you will need to move outside your comfort zone and take on some things you have never done before.

Business Coaching Tip #3: Hire good people and trust them to do their jobs. You have to replace your time working in the business with other people working in the business.  Hire good ones.  Train them well.  Teach them to do things the way you want them done.  Teach them the philosophy behind the decisions they will need to make in their job, so they can make decisions without you.  Then trust them to do their job.  Course correct as necessary.

Business Coaching Tip #4: Get your priorities straight. Where are you taking your business and what will it take to get there?  If you don’t have a strategic plan, get one.  Based on that plan, what are your priorities as a leader?  If you aren’t clear about what you need to be doing working on the business, then you will never let go of working in the business.  Give yourself some big “on the business” goals.

Business Coaching Tip #5: Grow your wingspan. You are going to have to grow as a person and as a leader, if your business is to grow.  Expose yourself to new ideas.  Read good business books.  Talk with other business owners.  Hire a good business coach.  Challenge yourself.  Grow yourself.  Become the leader your business will need you to be five years from you.

I hope this has given you some useful food for thought.  Consider where your business really needs you to be long-term and move toward it by spending more time on your business.

noconnor@mindspring.com

www.nanoconnor.com