As a small business owner, you can often feel like you do not have the chance to simply take a step back and evaluate your performance. However, it is critical to do so! If you feel like you’re struggling with an excessive workload, it could be that you own a job at the moment, rather than owning a business! Taking a step back and reassessing your position can help you to evaluate what changes need to be made.
Think about why you started a business, to begin with. What were your goals? Did you want to be your own boss? Were you looking for financial freedom? We all have different reasons for going solo! By re-evaluating why you went down that route, to begin with, you can determine whether you have achieved those goals. If you haven’t, it is time to make some changes to get yourself back on track.
HOW MUCH TIME DO YOU SPEND WORKING ON YOUR BUSINESS?
There is a big difference between working “on” your business and working “in” your business. You need to think about how much time you spend on both. You could even decide to time each portion of your work for the week ahead. Are you spending most of your time working on business tasks? Or, are you actually working on your business and moving it forward?
WOULD YOUR BUSINESS COPE WITHOUT YOU?
A good business is one that is able to cope without its leader. It may be difficult to wrap your head around the concept of your business not needing you. However, you want to get your business in a position whereby your team is the lifeline. The people working for you should have all of the skills and resources they need to be able to keep the business moving without your presence. So, if you want to take that family holiday, you’re able to!
DO YOU HAVE A GOOD WORK/LIFE BALANCE?
Finally, a lot of people want to be their own boss so that they can benefit from a better work/life balance. However, if you find that you’re constantly needed in the workplace, it is likely that you have no balance at all. The art of being a good business owner is knowing how to delegate and having the right people in place to delegate to!
So there you have it: an insight into whether you currently own a business or a job! We hope that this has helped you to take a step back and re-evaluate your position. If you feel like you’re falling more into the job category, think about the changes that you can make so you can get yourself back on track, achieving those all-important goals that caused you to set up a business, to begin with.