How to find time and space to work on your business, not just in it

It’s time to revisit a myth…

Most SME business owners will recognise the difference between working on not in their businesses intuitively.

Working on the business refers to the strategic, high-level tasks involved in growing and improving a business, whereas working in the business means the day-to-day operational tasks that keep the business running. It’s a phrase that was popularised by Michael E. Gerber in his well-known book ‘The E-Myth Revisited.’

Yet despite the many benefits of working on their businesses, most SME business owners will admit that they spend the vast majority of their time working in their businesses.

In fact, one of the most common things we’re told by SME business owners and directors at our ‘Ignite Your Business’ strategy workshops is that they value having the time out of the business to revisit their vision for the future, to refine their strategy, to start working on some of their challenges and to explore new growth opportunities.

But these SME owners also tell us that despite their best intentions, they know they’ll return to their businesses after the session and inevitably get caught up in the day-to-day operations of the business – whether it’s managing employees, serving customers, handling inventory, updating the website, fixing IT issues, or repainting the ceiling!

So let’s revisit another myth… This situation is not inevitable!

We do recognise that it is particularly hard for SME business owners who are heavily involved in all aspects of the running of their businesses to find time and to relinquish some control.

But there are ways for business owners – yes, even SME business owners! – to create the time and headspace to work on their businesses not just in them.

In fact, we’d argue that it’s even more critical for SME business owners to find time to extract themselves from the everyday operations of the business to focus on the high level, high return initiatives that will supercharge their business’s growth, because unlike in larger businesses, the business is relying on them to set the vision, strategy, and direction of the business.

That’s why we’ve put together these 8 practical steps for SME business owners who want to step back from the noise and daily tasks that don’t bring much strategic value, and instead find time and headspace to focus on process improvements, business development initiatives, investment plans and other key strategic decisions that will seriously increase the growth and value of the business…

1. Delegate Effectively

It might sound obvious, but effective delegation is the key to freeing up your time for strategic planning, business development and decision making. You cannot focus on the bigger picture if you’re constantly working on tasks that could be done by someone else.

And when delegation is done well, it not only frees up your time but also empowers your team, giving them a sense of ownership and responsibility.

But the truth is that many leaders are not very good at delegating!

Perfectionism, a fear of losing control and a lack of trust mean that many business leaders will still choose to do tasks that someone else could do equally well, if not better.

So how can you improve your delegation? The Eisenhower Decision Matrix – also known as the Urgent-Important Matrix – is a great place to start. It can help you to prioritise tasks based on their urgency and importance and to identify activities that could be delegated to your team members.

You also need to trust your staff and to drop your perfectionism.

2. Schedule Time for Strategic Planning

Another obvious point is to actively schedule regular time for strategic work with your leadership team, otherwise it is unlikely to happen.

Set medium and long-term goals, regularly review your key performance metrics, and brainstorm new business initiatives.

You need to make a conscious effort to focus on the long-term vision of your business, not just the day-to-day operations. This may require a shift in mindset from short-term firefighting to longer-term forecasting.

The business environment is constantly changing so regular reviews are essential to help you to stay on top of market trends. They also give you the chance to identify issues early and take corrective action before major problems arise.

3. Get out of the office!

As we see with our ‘Ignite Your Business’ strategic workshops, many business owners find it very beneficial to physically leave the business premises for a few hours – or even longer – to get the headspace and time for strategic planning. So our simple advice: get out of the office!

4. Develop your Leadership Team

A strong leadership team will significantly enhance your business’s performance and free up your time for strategic planning and growth initiatives.

Start by identifying potential leaders within your business who align with your mission and vision and then invest in their development through leadership training and ongoing development.

Similar to delegation, trust is essential. You have to let go and let your management team get on with leading the business! If you give people leadership responsibilities, then you have to trust them to deliver.

We know that this isn’t easy for many SME business owners who have often founded and run the business from day 1, but micromanagement and perfectionism will stop you from being able to hand over the reins effectively and it will also act as a significant demotivator to your chosen leadership team.

Consistently invest in the development of your leadership team and eventually you will be able to hand over much of the day-to-day management of your business, allowing you to focus on the bigger growth picture.

5. Have an Organisational Chart with Clear Roles and Responsibilities

Another way to free up some of your valuable time is to create – or update – your organisational chart.

It often surprises us how few SMEs have up-to-date organisational charts.

An organisational chart is a visual representation of your business structure and your people. It should clearly outline the roles and responsibilities of each department and each team member.

An ‘org chart’ can also help you to distribute the workload more evenly and to make sure that each employee’s time, skills, and knowledge are being used to their full potential and it should also help everyone in the business to understand what is expected of them.

Crucially, your organisational chart should help you to identify gaps in your team that need to be filled or to find people who could take on some more responsibility.

It should also help you with your succession planning and to plan your recruitment strategy to support your future growth ambitions.

6. Use Technology to Automate Tasks and Increase Productivity

Where possible, to free up some of your time, look for tools and software that can automate routine tasks, provide valuable insights, and improve productivity.

The rise of new AI tools – such as ChatGPT – should also help to increase productivity and automate tasks that would previously you would have to do manually.

One point we often make to SME business owners however is that it’s not about simply selecting the right software and technology, but you also need to train your team to use the technology effectively.

Choosing the tech is the easy part, getting your team to embrace and adopt it is much more difficult.

7. Get a Coach or Mentor

We know that SME business owners often feel that they need to do it all on their own and are reluctant to ask for help.

Here’s what we tell our business owner clients: it isn’t a sign of weakness to ask for help!

In our experience, the opposite is true. The best leaders seek out coaches or mentors who can provide them with objective advice, guidance, professional development opportunities and insights from their own experiences.

Scheduling a regular meeting with a coach or mentor is another great way to work on your business and also on yourself.

8. Outsource Non-Core Activities

Obviously, The Uncommon Practice have skin in the game, but we believe that SME business owners who want to free up time to work on their business should consider outsourcing certain key tasks or functions to external agencies or professionals where they can.

The best external partners, whether accountants, consultants, lawyers, IT experts or marketing agencies, should also help you to work on your business by providing strategic advice, knowledge transfer and fresh perspectives along with their specialised expertise.

Once again, we appreciate that many SME business owners can be reluctant to hand over the reins to an external partner – “I don’t need someone coming in to tell me how to run my own business!” – but remember, you’re not outsourcing your decision-making and it’s not a weakness to ask for help. Instead, you’re gaining insights and recommendations that can help you to make more informed decisions yourself.

Work on your business, not in it…

Even SME business owners can find time to work on their businesses, not just in them.

Yes, this can be harder for SME business owners, but by implementing some of the strategies we’ve identified it is entirely possible and sustainable.

It may require a shift in mindset, letting go of some control, delegating effectively, and actively setting aside time to work on your business strategy, but ultimately, if you want to achieve your bigger strategic objectives and consistently grow your business, you have to be able to work on it, not just in it.

Work on your business at our next Ignite Your Business Strategy Workshop

At The Uncommon Practice we are unashamedly on the side of SME Business Owners and Directors. We know what keeps you awake at night, and we know how hard it is to have the time to get out of the workplace, to work on your business, and to put together a plan of action.

That’s why we run ‘Ignite your business’, half-day strategy workshops, just for company leaders, to identify and prioritise what they need to do to grow their businesses over the next 12 months, and to plan how they’re going to do it.

Through open, judgement-free discussions with like-minded company leaders, participants identify the key issues facing their businesses and share ideas about how they might overcome them. They determine the key areas that will grow the value of their businesses and identify the growth strategies that have worked in other businesses that may help them in their own.

The workshop gives company leaders the chance to reflect, reset, and refocus, and to put together a clear plan to grow their businesses over the next 12 months.

Participants leave the session with a positive mindset shift, a clear roadmap for growth and the spark to ignite their business growth over the next 12 months.

If you are an SME business owner or director, you can book your place at our next ‘Ignite Your Business’ workshop here.