{"id":9684,"date":"2023-11-27T09:00:18","date_gmt":"2023-11-26T22:00:18","guid":{"rendered":"https:\/\/sumzplus.com.au\/?p=9684"},"modified":"2023-11-20T18:29:51","modified_gmt":"2023-11-20T07:29:51","slug":"work-on-the-business-not-in-it","status":"publish","type":"post","link":"https:\/\/sumzplus.com.au\/work-on-the-business-not-in-it\/","title":{"rendered":"Work on the business, not in it"},"content":{"rendered":"<p>The phrase \u201cwork on the business, not in it\u201d comes from Michael E. Gerber\u2019s book, \u201cThe E-Myth Revisited.\u201d Its core message revolves around the idea that there\u2019s a difference between an entrepreneur and a technician or worker within the business.<\/p>\n<p>Here\u2019s a breakdown:<\/p>\n<h3>Working in the business:<\/h3>\n<ul>\n<li>This refers to handling the day-to-day operations and tasks that keep the business running. Examples include serving customers, managing inventory, handling daily administrative tasks, etc.<\/li>\n<li>Business owners who constantly work \u201cin\u201d their business often find themselves overwhelmed with routine tasks, limiting their ability to grow or scale their business. They might feel like they\u2019ve created a job for themselves rather than a scalable business.<\/li>\n<\/ul>\n<h3>Working on the business:<\/h3>\n<ul>\n<li>This involves stepping back and focusing on strategic growth, planning, and business systematising.<\/li>\n<li>Tasks include creating standard operating procedures, developing marketing strategies, analysing the competition, seeking growth opportunities, and more.<\/li>\n<li>Working \u201con\u201d the business ensures it can operate and grow without entirely depending on the owner\u2019s daily input.<\/li>\n<\/ul>\n<h3>The key benefits of working \u201con\u201d the business rather than \u201cin\u201d are:<\/h3>\n<p>\u2022 Scalability: By focusing on systems, processes, and strategy, the business can be positioned for growth. A well-structured enterprise can accommodate an increase in demand without proportional increases in effort or resources.<\/p>\n<p>\u2022 Enhanced efficiency: Establishing processes and systems can lead to streamlined operations, minimising waste and redundancy.<\/p>\n<p>\u2022 Greater profitability: Efficiency often leads to cost savings, and strategic planning can increase revenue opportunities. Both can enhance the bottom line.<\/p>\n<p>\u2022 Value creation: A business operating without being entirely dependent on its owner is more valuable.<\/p>\n<p>\u2022 Innovation: By stepping back from daily operations, owners can gain a clearer perspective, allowing them to innovate, identify new opportunities, or pivot if necessary.<\/p>\n<p>\u2022 Improved work-life balance: Owners can better balance their personal and professional lives when not tied to daily operational tasks.<\/p>\n<p>\u2022 Empowerment of employees: Delegating responsibilities can empower employees, making them more engaged, fostering leadership skills, and improving job satisfaction.<\/p>\n<p>\u2022 Risk management: Owners can implement contingency plans by working on the business, ensuring the company can handle unforeseen events or challenges.<\/p>\n<p>\u2022 Flexibility: Owners gain the flexibility to take time off, knowing that the business can run smoothly in their absence.<\/p>\n<p>\u2022 Long-term vision: It allows business owners to focus on long-term goals and visions rather than getting caught up in immediate challenges or daily crises.<\/p>\n<p>If you would like to discuss these topics get in touch today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The phrase \u201cwork on the business, not in it\u201d comes from Michael E. Gerber\u2019s book, \u201cThe E-Myth Revisited.\u201d Its core message revolves around the idea that there\u2019s a difference between &#8230;<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/sumzplus.com.au\/work-on-the-business-not-in-it\/\">Read More&#8230;<span class=\"screen-reader-text\"> from Work on the business, not in it<\/span><\/a><\/p>\n","protected":false},"author":11,"featured_media":9685,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[1],"tags":[],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Work on the business, not in it - Sumz Plus Business Services<\/title>\n<meta name=\"description\" content=\"The phrase \u201cwork on the business, not in it\u201d comes from Michael E. 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