“Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.” – Steve Jobs
One of the most pivotal shifts in mindset a business owner can make is understanding the difference between working in your business and working on your business. This distinction is not just about delegation or management; it’s about fundamentally changing how you approach your role as a leader.
When Howard Schultz joined Starbucks, it was a small coffee bean store. He could have focused solely on sales and day-to-day operations. Instead, he envisioned a grander scale for the company. By working on the business, focusing on expansion and branding, he transformed a local shop into a global phenomenon.
What does it mean to work on your business? It involves stepping back from daily operations to strategize, innovate, and plan for growth. It’s about setting systems that allow your business to operate without your constant input, which is crucial for scalability.
For instance, imagine you run a boutique marketing firm. Working in the business might involve directly managing client accounts, creating content, and pitching new business. But working on the business? That’s where you design operational processes, develop long-term business strategies, and implement tools that automate or streamline your work.
This strategic approach ensures that your business can thrive even when you’re not there, making it more sustainable and less dependent on any single individual, including yourself.
Action Step: Take a moment to list down all your daily tasks. Which of these could be systematized or handed off to others? Identify at least one major system you can implement or refine this quarter to help your business run more independently.
This approach isn’t just about improving efficiency—it’s about making sure that your business is a well-oiled machine that generates value continuously. The satisfaction from knowing your business is functioning smoothly while you strategize its next big leap is profoundly rewarding.
To learn more about how you can effectively transition from working in your business to working on it, be sure to check out our book of the week: “The E-Myth Revisited”.