If you are a business owner who wants to grow your company, at some point you have to give up control. That means being willing to change the way you do things, including the differentiation between working on, not in, your business.

You’ve no doubt heard Albert Einstein’s famous line: “Insanity is doing the same thing over and over again and expecting the same results.” Spoiler alert: Einstein never said it, which just goes to show you can’t believe everything you read (or hear). Still, no matter whom the author of this famous quote is, the statement holds true. So you don’t go off researching who actually said this instead of learning more about why you need to change the way you do business, research by Michael Becker, an editor of the Bozeman Daily Chronicle, indicates credit should be given to Rita Mae Brown, the mystery novelist. Fun little trivia question for your friends — you’re welcome! Let’s get started.

Einstein quote - working on not in your business

Change is hard

Ready to move from startup mode to the next stage? You have to be willing to give up spending your day on smaller issues that take you away from building your business. Things like distractions (you know how easy it is to distract yourself). So what does working on your business mean? You’ll need to make sure you have the foundations in place to grow. Let’s cover what those actually involve, as recommended by Jeff Kadlic, co-founder and managing partner of Evolution Capital.

Start with these five essentials

  • Your financials. You need to know your daily and weekly financials to evaluate your business. As the owner, sign yourself up to: watch costs and expenses, do a monthly review, continue to evaluate and make sure to keep your financial records clean.
  • Planning. Make a plan that outlines your goals along with a strategy to get there. You can’t expect to get results without a plan.
  • People. Identify the right person to hire, either as an employee or consultant. This again is where setting your intention is important, and where many small business owners struggle. Think about whom you really want for the position: someone with experience in your industry, someone who will follow your direction with no questions asked, or a self-starter who may have his or her own ideas.
  • Transparency. This means you need to share with your team. If you want their loyalty, you also need to show that you trust them. Creating an environment that allows for mutual sharing can bring many new and innovative ideas to your business.
  • Accountability. Of course, it’s your business. You have to be accountable for your actions just as you hold your staff accountable for theirs.

Play to your own strengths — it’s better for you, your business and your team

By giving up what you can’t do well (or just plain can’t stand to do) and delegating it to someone else, you gain the freedom of time to set yourself up for successful growth. And, you should have a lot more fun doing it.

Need help working on, not in, your business?

As an entrepreneur, you don’t need to be an expert in every business discipline. Instead, surround yourself with a mix of experienced employee and consulting resources to get the job done.

At Lumen Marketing, we specialize in inbound marketing, websites and creative for B2B and B2C businesses. Our strategy-first marketing programs help clients generate demand, attract better leads, engage more effectively, and increase qualified sales opportunities that lead to measurable revenue. Whether you need to augment your team on a single project, or a completely turnkey, outsourced marketing solution, we can help.

Give us a call at 720-722-2987 or click the blue button below to get in touch with us.