Working ON the Business vs. IN the Business by Steve Gross

Working in the Business

1.  Where we all start
   1.  Had an idea, wanted to go out on our own.
   2. In the beginning did everything.
   3. One office, our customer contacts, wrote all checks watched collections and cash flow.
   4. Added employees as we needed to help us do more in each area, but still maintained control.
   5. Worked long hours and as business grew, felt more and more stretched out.
2.  Where it goes, as business matures
   1. You begin to build management levels of function that handle:
      1. People / HR
      2. Sales / AR / Collections
      3. Vendors / AP Payables
      4. Sales and Marketing
      5. Financial Performance (CFO)
   2. They all have direct reporting to you.
      1.  You look over management’s shoulder
      2. You build sales
      3. You solve problems
      4. You push for performance / keep up dynamic tensions / constantly challenge
3.  The next step – build value
   1.  Can’t do it working in the business exclusively.
   2. Must build management team that can survive you.
   3. Must replace yourself in functions – in the business
   4. When that is accomplished – you have transferable value.

What does working ON the business mean?  Look Like?

1.  You are in a strategic role – with time to think, reflect, challenge yourself (and the plan) and reinvent the business.
   1.  Think – learn from others – books, consultants, seminars of SME’s (seminars, trips or events).
   2. Reflect
      1. Where is your industry going?  Where will it be in 5-10 years – next year?
      2. What’s happening in business, generally?  Globalization, on line marketing and distribution, virtual back office, remote work force, collaboration.
      3.  How can you build, empower or strengthen your team?
      4. How can you serve your customer better?
   3.  Challenge Yourself
      1.  Personal Goals – where do you want to be in 5 years?  Who do you want to be in 5 years?  Are you fulfilling your destiny, personally and professionally?
      2. Have you become the best you can be?  Business skills, people skills, physical health.
      3. Has the business become the best that it can be?
      4. How can you create “wow factor” for customers?
      5. How can you create “nurturing growth environment for employees?
   4.  Reinvent the Business
      1.  World is changing, how do you take advantage?
      2. Customer is changing, how are you meeting his needs?
      3. Communications are changing, how do you reach the world?
      4. Employees are changing, how do you use changes for good?
      5. Take a blank sheet approach every 5 years – if starting today, what would I do to build business?

When you are involved in working ON the business, more will be accomplished for you and the company and the employees and the customer than if you work IN the business.