It’s a well known fact that most small businesses struggle to survive and cease to operate within the first three years of starting. From my experiences of working in insolvency, one of the biggest assumptions that business owners made was that because they knew and excelled at the technical side of their business that they were automatically qualified to run a business that did that kind of work.

But there is so much more to running a business than selling products or services.

In most cases many entrepreneurs and business owners have very limited knowledge or experience in running a business. They have an amazing idea and decide that they want to start their own business – doing the work they love and following their passion.

However, they soon realise that the freedom of being their own boss and earning a living from what they love doing is short lived when they find themselves working like a maniac and working longer hours than they did when they worked for someone else. By only focusing on the technical side of the business, creating their products/services and dealing with their clients they find themselves being chained to the business.

They become so involved with the day to day running of the business and working ‘in’ the business that they don’t take the time to step back from the hands on work and put their focus towards working ‘on’ the business.

Despite loving what they do, the long hours, overwhelm and stress takes its toll on them and not only do they struggle in their business, but it also has a detrimental effect on their wellbeing.

They’re exhausted, anxious and running around a hundred miles an hour. Their relationships with their family and friends are almost nonexistent. They are very rarely present in their company as their mind is swirling around with all the things they had to do, coupled with feeling guilty that they were not spending the time working when there was so much to do.

They have knots in their stomach because they have no idea of the state of their finances and in most cases have inadequate cash flow as a result. They are working the hardest they ever have but the bank account never seems to reflect this. They don’t have a strategy or plan in place and instead their focus is solely on what they do best and that’s generating as many sales as possible. In most cases, they are pretty much running their business on a whim and just hoping for the best.

If you can relate to this and you want to conquer overwhelm and boost your business’s bottom line then it is imperative that you start working on your business and start building strong foundations within your business. Taking time out of your business to sit down and start working on your business will not only take away the overwhelm and extra stress you’ve been experiencing but it will also allow you to take your business to the next level as you’ll no longer be bogged down by the day-to-day operations.

Here are some questions to ask yourself:

• Each day do you schedule in time to work specifically on your business?
• Do you know what your vision and goals are for the next 12 months?
• Are you taking discerning action and only working on those tasks that will help you achieve your goals?
• Are there any tasks that you do repeatedly in your business that you could systemise?
• Do you have the right support and people working in your team? Whether that be employees, contractors, strategic partners, mentors, coaches etc?
• Do you regularly review and track your numbers?
• Do you take time to rest and reflect or are you spending all your days hustling and striving, feeling exhausted and on the brink of burn out?

By working on your business, you’re not only going to be able to take your business to the next level but you’ll also have control and direction in your business without the overwhelm and stress you’re currently experiencing.

Here are 3 Actions To Help You Get Started

1. Schedule time in your day to work on your business – this time is non negotiable and must happen each and every day! Check out my free guide: 3 Steps To Be More Intentional and Productive With Your Time and start getting the most out of your day.
2. Plan – you can’t grow your business without a plan in place. Start with outlining your 3 BIG goals for the next 12 months and then breakdown these down further and work out a plan for the next 90 days. What smaller goals can you set for the current 90 day period that will move you closer to achieving your 3 BIG goals? You will then attend to these activities during your scheduled ‘working on your business’ time. Remember plans aren’t set in stone so revisit, revise and realign them when you need to.
3. Know your numbers – it’s imperative that as a business owner you regularly review your cash flow position and your financial statements. Having an understanding of what they’re telling you about your business is going to ensure you’re always one step ahead. The last thing you want are nasty surprises when you look at your bank statement.

Head over to the comments and let me know:

Do you feel like you’re constantly putting out fires instead of growing your business? On any given day, what is in your control? What actions are you taking that add the most to your bottom line and move you in the direction of your goals?

Leave a comment below and let me know how you go!

If you show up and do the work ON your business, you WILL see results.

PS: If you’re ready to bring your business to the next level, to conquer overwhelm and take the necessary steps to boost your business’ bottom line click here.