How do I work on the business, not in it?
Tuesday, May 12, 2009/
I am a great fan of your advice column. I have a problem.
I have a background in sales. My business has taken a bit of a knock recently, but I think it is partly because I am still stuck working in the business. I know I should be working on the business but every time I move myself away, things go downhill.
How do I get my business to take the next step without risking the business?
Every fast growing business hits this barrier. Many never actually make it over, so congratulations on your determination!
The first thing you must do is replace the tasks you do with specialists. This takes time and resources. As you bring in more specialists, they bring in more processes and set the foundation on which to build the medium sized business.
This is often a painful time in the life of a business owner as there are more staff, increased costs, yet response time seems to slow down.
Also at this stage the business owner becomes aware of her/his lack of management skills. Running staff in a medium sized business is quite different to the job of founding a small business.
Hopefully you have been reading everything you can about running businesses, creating strategies and vision and reading the stories of how other successful entrepreneurs have built their businesses.
Many business owners also join groups such as the Executive Connection or CEO Institute to learn from other entrepreneurs. Or they find a mentor or group of business people who can give them invaluable advice and encourage them as they make difficult decisions.
Your Aunty B.
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