Do this to work on your business
When you analyze how you spend your time in your business, ask yourself: are you only working IN the business, or do you also devote time to working ON the business? This distinction is crucial for long-term success and growth. Let’s explore the difference and how you can strike the right balance to ensure your business thrives.
Working in your business and working on your business
Working in your business:
Managing Today: This involves managing your business as it currently stands. It's about maintaining operations, handling day-to-day tasks, and ensuring everything runs smoothly.
Working on your business:
Investing in Tomorrow: This involves dedicating time to activities that will improve and grow your business in the future. It’s about strategic planning, development, and innovation.
The Hamster vs. The Hiker
The Hamster: Imagine a hamster in a cage running on its wheel. The wheel spins, but the hamster stays in the same spot. This is akin to working IN the business—keeping things moving but not necessarily progressing.
The Hiker: Now, picture a hiker climbing a mountain. With each step, the hiker reaches a new elevation, gaining a broader perspective and making tangible progress. This represents working ON the business—taking strategic steps to reach new heights and drive growth.
Examples of tasks
Working in the business:
Studying the market
Prospecting
Posting content
Consultations
Showings
Managing contracts
Working on the business:
Goal setting
Developing plans
Education and training
Building systems
Analyzing results
The impact
Working in the business makes it go: It keeps the wheels turning and ensures that the business operates efficiently on a daily basis.
Working on the business makes it grow: It sets the stage for future success, fostering innovation, and laying the groundwork for sustainable growth.
Working on the business weekly commitments
To ensure you’re devoting enough time to working ON your business, conduct an audit of your weekly schedule. There are three specific meetings you need to have in your calendar every week at the same time:
Plan Your Week:
30 minutes every Sunday or Monday a.m.
Read your 1-year plan and 90-day plan.
Review closed and pending results.
Set weekly targets for listing appointments (LA) and buyer consultations (BC).
Plan your activities to generate opportunities from your database, existing listings, and content.
Review your calendar for the next two weeks and adjust for any conflicts.
Level 10 Meeting (Based on the EOS Model):
Review your scoreboard.
Evaluate your quarterly rocks (key goals).
Identify, discuss, and solve any issues.
Set tasks for the next seven days.
CEO Time:
Dedicate time to work on your quarterly rocks.
Ensure you have CEO time blocked in your calendar to move the needle on your strategic goals.
Are You Ready to Work ON Your Business?
Do you have all three of these meetings scheduled in your calendar to work ON your business? If not, now is the time to adjust. Prioritize these sessions to ensure you’re not just spinning the wheel but climbing the mountain towards greater success and growth. By balancing the immediate demands of working IN your business with the strategic importance of working ON your business, you’ll create a more dynamic, forward-thinking enterprise poised for long-term success.