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As an entrepreneur, you are always busy. Whether you’re trying to start a new business or put out fires for your company, you’re always on the go. Even if you come home tired from a busy day, you’ll check your emails again and work a little more. Then you get up and do it again the next day.
Over the years, surveys have shown that business owners put in more than 40 hours a week – often 50 or 60 hours. Although you have many great ideas to grow your business, you have very little time to implement them. While this is a true labor of love, it often feels like being on a hamster wheel.
Unfortunately, these are all signs of being lost in your business. It’s something all entrepreneurs feel at one point or another, but it’s a sign to stop getting lost in the daily grind and work on your business. This feeling can sometimes lead to anxiety, worry and even loss of motivation.
Making time to work on your business is important, and it looks different for every entrepreneur. Let’s take a closer look at why it works about your work is very important and how you can implement this experience.
Related: You’ll have to take a step back to level up
Why is it important to work on your work?
It’s up to the company’s leadership—most likely you—to set goals, think about the future, and find solutions to friction within the business. You are responsible for the big picture. You’ll be more motivated than anyone else on your team to grow your business. But if you focus on day-to-day operations instead of strategizing for future success, the company may suffer in the long run.
Instead of doing routine tasks, start delegating them to other team members so you can spend time on bigger-picture projects. Having the ability to trust others to get things done is essential to the longevity of your business.
If you burn out, you won’t be able to lead the company! While it may take some getting used to, it’s a necessary step to keep your business on the right trajectory.
Related: Work – Out of Your Business
What it looks like to work in your business
Working on your business will look different than doing everyday tasks like dealing with clients, managing employees, or updating your website. Instead, you:
- Get away from the daily routine and think about your work. Instead of spending all your time on project-related tasks, make it a habit to spend time strategizing about your business. It is recommended to spend 10-20% of your time on business development. Use this planned time to think ahead and start planning for success.
- Write down the goals. What are your business goals? If you still need to get short, medium, and long-term goals on your radar, now is the time to create them. Research has shown that actually writing down your goals makes you more likely to achieve them. What do you want to achieve in the next one to five years? From there, break down your goals into smaller, more achievable quarterly or monthly goals and set calendar reminders to keep yourself on track. Invite someone you trust to be a sounding board for your goals and hold you accountable to accomplishing them.
- Consider your role. If you’re used to working on day-to-day tasks, it’s time to reevaluate your position as a business owner. It’s your job to consider the bigger picture and work on business actions to realize the company vision. How can you adjust to focus on the bigger goals you set for the business? I had a client who handled all day-to-day aspects of the company. She was stressed and stuck in her position because she didn’t have someone she trusted to take on some of her roles. I suggested that he start his employees with easier, time-consuming roles. Once they’ve shown they can do it, take on more complex roles and give them to them. This process took time, but the result was fantastic. Within a year, he had more time, the company became more productive, and they accelerated growth.
- Document and representative. Write down all the tasks that each person in your company must do to be successful. Review these tasks regularly with each employee to make sure they are on the same page. They want to be on a winning team just like you and will have significant contributions to make to succeed. These will be the most important meetings of the year. Leave room for flexibility, as roles may change as the company grows and communication is key to continued growth.
- Hold yourself accountable. Change is hard for anyone, even entrepreneurs. It’s helpful to have people and plans to hold you accountable. Review your goals and make plans to check in with yourself regularly, such as setting calendar goals. Meet with other company leaders about their goals. Are you on track to reach your goals? If not, what can you do to get there? If necessary, consider hiring a business coach to hold yourself accountable.
Related: Lessons from Famous Founders: When It’s Time to Take a Step Back
As a business owner, it’s not easy to keep your hands off what’s going on in the company every day. After all, you are the one who cares most about the success of the business. But in the long run, taking time off from working on your business will lead to a more fulfilling, profitable and enjoyable business and life.