If you were out of the business for an extended period – whether this is going through the process of selling your business, seeking acquisitions – or taking a break, long would it take before the wheels fell off your business bandwagon?
As a business strategist who has helped hundreds of business owners to enjoy a work life balance without the wheels rattling – let alone flying off, I know that the secret of success lies in working ‘on’ as opposed to ‘in’ your business.
It also means setting in place the right systems, processes and people.
A good start is to identify the eight key tasks that only you can do – and which are critical to the survival of your company.
- Review business performance against the plan and decide the most appropriate options/ actions in light of the challenges and constraints
- Take on the role of executive coach. Conduct 1-2-1s with your key executives to coach and develop them to make better choices and decisions. Keep them focused on the strategic goals
- Walk the four corners of the business, see what’s going on and what requires reviewing in the 1-2-1s
- Regularly visit customers and listen to their thoughts and future plans
- Find out what suppliers are working on and what is happening in their markets
- Communicate with all your stakeholders (inside and outside the business) to ensure everyone knows what is happening and why
- Develop yourself by joining a peer group learning forum such as What If Forums
- Research future possibilities and attend conferences, exhibitions and events.
How many hours a week are you currently working versus how many you aspire to work?