There’s a lot of talk about how entrepreneurs work “on” their business, rather than “in” it. And it’s sometimes hard to get out of that mind space when we’re working long hours just to get by. Well, here’s a simple process for working on your business.
Step 1: Define Success
Most companies do it along these lines: make money and do rad stuff. But the real goal is do rad stuff, and then they find ways to turn it into money.
Step 2: Define “Rad Stuff”
Figure out what “rad stuff” is, and then talk about the things you do to make rad stuff. Maybe it’s products or classes. Don’t forget to list the things you hate or that are hard for you to do (ask me about how to offload those).
Step 3: Define Profit
Define how much money each one makes you. This will help you make the next decision.
Step 4: Prioritize with Your Gut
Prioritized, based on how rad it is and how much money it makes you. This is also called “Using Your Gut,” because this isn’t just about profit; it’s also about enjoying the process.
Step 5: Plan Priority #1
Make a specific plan around your #1 priority.
Step 6: Hand it Off
Once it’s going the way you want, hand if off to someone else. But make sure they have clear workflows and good benchmarks.
Step 7: Repeat
For priorities 2-7, simply repeat. When you’re done, you can either create new projects or start over with #1, optimizing it further.
Success comes from getting out of the day-to-day for a few minutes and thinking about opportunities that will improve your ROI and your satisfaction. It’s getting out of your business for a little while and working on it. And it’s really that simple.
Your typical business consultant wants this to seem complicated. Unfortunately, “complicated” doesn’t move the needle in your business. But clear priorities that work for you—your leadership style, the things you’re comfortable with, and things you like and don’t like to do—will push your business into new territory.
Feeling a little overwhelmed? Find out how to take control.