Business owners often find themselves caught up in the day-to-day operations of their businesses, struggling to prioritise tasks and work on strategic growth. However, shifting focus from working in the business to working on the business is essential for achieving exponential growth. In this article, we will explore four tips to help you identify what tasks you should be working on to build a valuable business.
Transition from Technician to Business Owner
To achieve business growth, it is crucial to transition from being a technician to becoming an owner. While being good at what you do is important, your ultimate goal should be building a business. This shift may present challenges and push you outside your comfort zone, but it is necessary to fundamentally change the way you operate and step away from day-to-day management.
Understand the Difference Between Urgent and Important
Dwight D. Eisenhower once said, “I have two kinds of problems, the urgent and the important. The urgent are not important, and the important are never urgent.” Successful business owners understand the importance of focusing on important tasks rather than getting caught up in the urgency of everyday activities. Spend 95% of your time on the “important but not urgent” tasks that contribute to long-term business value.
Do First Things First
To ensure that important tasks get done, prioritise them and tackle them first. Many business owners fall into the trap of working on urgent and important tasks, which can lead to burnout and neglecting strategic activities. By dedicating time to high-value tasks early in the day, you set the tone for productivity and make progress towards achieving your long-term goals.
Think Ahead and Set Goals
To create a valuable business, you need to think five or ten years into the future. Don’t just show up to work and wait for things to happen. Instead, set clear goals, audit your activities to ensure they align with those goals, and prioritise tasks that contribute to your long-term vision. By mastering the art of working on your business, you unlock its full potential for exponential growth.
It’s important to remember that building a valuable business requires dedication and focus. By understanding the distinction between urgent and important tasks, dedicating time to strategic activities, scheduling your day in advance, and transitioning from a technician to an owner mindset, you will empower yourself to drive growth and achieve your business’s full potential.
Please note that the information provided in this article is based on the source article from MYOB. For additional details and specific advice, it is recommended to consult relevant professionals and sources such as SMG Accounting Services.