I recently asked a friend of mine—someone who runs what most people would call a very successful business—what he does for fun.
His answer was a little depressing.
He didn’t have much of an answer because he’s simply too busy to have much fun. As he elaborated, the picture became clearer: he works more hours than any of his employees, handles the most complicated technical jobs himself, and covers the weekend calls just to keep overhead down.
I didn’t have the heart to tell him right then, but the truth is: He doesn’t actually own a business. It owns him.
Put another way, he owns a job, not a business.
Working “IN” vs. “ON” Your Business
So many business owners think they are building an enterprise when, in reality, they are just the highest-paid (and most overworked) employee in the building. Their business doesn’t grow without them, it doesn’t make money without them, and no matter how big the team gets, nothing can be finished without the owner’s direct involvement.
If you feel like you’re stuck on a hamster wheel, here are three areas to take a hard look at.
1. Working Hours: Are You the First and Last?
If you are the first one in and the last one out most days, chances are you own a job. This usually stems from one of two issues: you haven’t trained your team, or you don’t trust them.
These issues are actually two sides of the same coin. A lack of training means you know for a fact you can’t trust them to do the job right. By setting clear expectations, creating systems, and training your team to perform, you’ll develop trust in them to do the work and allow them to be the first and last through the door while you focus on high-level growth.
2. Expectations: The “Mind-Reading” Trap
If your team fails to meet your expectations on a regular basis, you’ve likely found yourself doing their jobs in addition to your own.
The culprit? Most owners expect their team to know what is required without ever writing it down or measuring it. Expecting people to achieve results without a defined process is a surefire way to own your job forever. They simply cannot help you if you don’t tell them exactly what that help looks like and how it’s measured, and talk about your expectations on a regular basis.
3. Systems: Is the Manual Stuck in Your Head?
The easiest way to tell if you are working on your business or in it is to look at your systems.
- Working ON: You are documenting processes, creating systems, and training the team on how to use those systems to deliver quality work.
- Working IN: The systems are all “up in your head.”
When the knowledge is trapped in your brain, you are the bottleneck. You can’t escape the hamster wheel until you start documenting, measuring, and training.
Break the Cycle
Is it time to transition from a job-owner to a true business owner?
If you want to learn how the ActionCOACH Business Operating System (ABOS) can help you get off the hamster wheel and start enjoying your weekends again, let’s talk. Schedule an intro call to get started.
Author: Mark McNulty, Business Coach in Louisville, KY