The Number 1 Mistake Small Business Owners Make

Photo Credit - Saad Faruque

Photo Credit – Saad Faruque

When you are the owner of a small business, you wear a lot of hats.  You don’t always have all the different team members of the larger companies.   Therefore you do a lot of different things.  You make the products, deliver your services, sell, answer phones, complete the bookkeeping, update Facebook, hire employees, and clean the bathroom… All before lunchtime!
You are amazing!  It is this versatility and creativity that makes you great.  However, this strength leads you to the number one mistake that small business owners make.
What is this mistake you ask?  The mistake is spending all of your time working IN your business rather than working ON your business.

[inlinetweet prefix=”” tweeter=”@brianmininger” suffix=”#smallbusiness #entrepreneur”]The #1 mistake small business owners make is only working IN but not ON their business.[/inlinetweet]

What is the difference?  Working IN, just keeps the business running and the doors open.  Working ON, is an investment in improving and growing your business. When you work ON your business, you position yourself to have the financial freedom and time flexibility that business ownership can provide.  Otherwise you will find yourself overworked and underpaid with no way out.

I put together a little chart with some examples that help illustrate the difference.

Comparison Chart 2
Carving out time to work on the business can be difficult.  Start with a small steps like setting aside 30 minutes a day to analyze one area of your business, going to a conference, taking an online webinar, reading a book, meeting with your key employees to encourage them, joining a mastermind group, or taking a half day for goal setting. It is the little steps, taken consistently over time, that make the difference.

How do you carve out time to work ON your business?

Share your thoughts in the comments below

  • Brian

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