Tuesday, November 18, 2008

Fight the Economy; Take This Simple Quiz to Improve Your Business

Question 1: I need to work “in” the business because I pull in a lot of sales/profits/etc!
Rate yourself _____ (1 is you don’t believe it to be true and 10 is it’s true)
Explain: ____________________________________________

Question 2: No on else can do it as well as me!
Rate yourself _____ (1 is you desperately need help and 10 is you are great)
Explain: ____________________________________________

Question 3: I work “in” the business because I don’t really know how to work “on” my business.
Rate yourself _____ (1 is you don’t believe it to be true and 10 is it’s true)
Explain: ____________________________________________

Question 4: I can’t afford to hire someone, so I have to work “in” the business.
Rate yourself _____ (1 is you don’t believe it to be true and 10 is it’s true)
Explain: ____________________________________________

Question 5: I have a hard time delegating the petty tasks because I feel they won’t be completed or done accurately.
Rate yourself _____ (1 is you don’t believe it to be true and 10 is it’s true)
Explain: ____________________________________________

Question 6: I know what I am good at and hire others to do the things I am not good at or that I really do not enjoy.
Rate yourself _____ (1 is you don’t believe it to be true and 10 is it’s true)
Explain: ____________________________________________

Question 7: I know I need help, but I do not know where to start!
Rate yourself _____ (1 is you don’t believe it to be true and 10 is it’s true)
Explain: ____________________________________________
List some items you do when you work “IN” your business and circle the ones you would delegate if you could:
________________________________________________________________________________________________________________________________________________________________
List some items you do/would like to do when you work “ON” your business:
________________________________________________________________________________________________________________________________________________________________
The amount of time you spending working “on” your business will help it grow in efficiencies, effectiveness, organization and most importantly a profit.

Example of Working “in” the Business versus “on” the business.

Joe's Coffee Lounge: Working “in” the business….
Make drinks
Answer phone
Prepare food items for breakfast, lunch, dinner crowd
Clean bathrooms and facility
Talk to customers
Clean dirty dishes
Prepare outside of building (flowers up and watered)

Working “on” the business:
Meet with people that can help you grow your business, for example: members of the chamber, Downtown Biz Organization, newspaper reporters
Looking at financial documents to determine your profit margins on each item
Financial Documents to forecast future sales and to see existing sales
Lead the company to a new place… ex: open a new restaurant in the building
Create and Follow a marketing plan
Track your marketing campaigns
Manage the team… operations manuals, scripts, training, staff meetings, etc.
Develop your vision, mission, and brand yourself.
Find your niche market & market to them!
Set 90 day, 1 year, 5 year and 10 year goals for the company


Business owners often believe that they HAVE to work “in” their business to make the profits; but without the working “on” your business, you are just creating a job for yourself instead of a future.

If you are only interested in doing the day-to-day tasks, then a job is all your really need. If you seek to grow and explore new goals for you and your company, then you need to make every effort to schedule at least 10 hours a week of working “on” your business.

With persistence and perseverance you will see your business grow into the company you have always dreamed about!
Lisa Bredahl
Small Business Coaching Center LLC
www.SmallBusinessCoachingCenter.com

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