Working on Your Small Business VS Working In Your Small Business

A Balancing Act

Small businesses must balance many things. At Comprehensive Consulting Solutions for Small Businesses, we view each area that a small business owner must balance as a piece of a larger puzzle. If a small business owner’s opportunity cost of completing a task or set of tasks is too high or if the business owner just doesn’t have the time, drive, or capacity to complete something, then the small business must hire someone to do that role because it is still an important piece of the puzzle.

Some small business owners work in their business and others work on their businesses – if small businesses hire the right team, they are able to work on their businesses not in their businesses.

This doesn’t mean that the small business owner isn’t setting an example and therefore completing tasks that show the business owner is not expecting staff to do things that the owner wouldn’t do – such as making a sales call to show how the call should be handled, speaking with customers, networking, cleaning the break area, etc. Small business owners’ teams follow their leader – so whatever example the leader or small business owner sets – that is how the team will act.

This isn’t about tasks related to setting an example, but focused more on how you optimize growth and compensation maximization through specific strategies and hiring the right team. Working on your business means more of a small business working on the bigger picture – like driving growth, growing revenue, hiring key staff, prospecting high value clients, overseeing and leading through day to day activities, and overall structure and processes to drive efficiency to name a few.

Working in your business means that as an owner, you are doing the day to day activities that drive your revenue such as servicing or selling a policy or activities that hold you hostage to the office – you can’t leave to prospect for the high value clients because its only you and one other person at the business and both of you are at max capacity answering the phones, selling, and servicing.

What is the opportunity cost of the business owner performing those tasks compared to building a marketing plan or building centers of influence for the long-term pipeline? If the small business owner is caught up performing the day to day, they don’t have enough time to plan for the future and the continued success of the business – there are ONLY so many hours in the day.

Just a few questions for small business owners to think about –

  • - What is your opportunity cost for tasks that you may be doing on a daily basis?
  • - How much would it cost to hire and train someone to handle the day to day?
  • - Do you work in your business or on your business?
  • - What example do you set for your team?

If your small business has opportunities with an area or puzzle piece, please call Comprehensive Consulting Solutions for Small Businesses at (479) 935-2488 or text us at (479) 439-8844.

Comprehensive Consulting Solutions for Small Businesses

Northwest Arkansas

Fayetteville, Arkansas

Call: (479) 935-2488

Text (479) 439-8844