If you haven’t been living under a rock, you’ve undoubtedly come across the concept of working “on” your business versus working “in” your business.
Jim CastigliaAuthor and business guru Michael Gerber coined the term in his E-Myth series of books almost four decades ago.
He says that working on your business means taking a systems approach to building your organization. These systems, when optimized, enable an owner to build “a business you love leading and a life you love living.”
Wow! What a promise.
This article doesn’t go into depth explaining the difference between on and in but rather presents the idea of “thinking.” Specifically, thinking about your business (which is one way to work on your business). I’ve never met or worked with a businessperson who didn’t think about their business. They thought about it constantly.
But that’s not the kind of “thinking about your business” I’m referring to. I mean the kind of deep thinking… planned, structured, ritualistic thinking that applies serious brainpower to the core problems of your organization and their potential solutions.
So, my first question is, what’s your current thinking process? Is it proactive or reactive?
I have to say that most of the people with whom I’ve worked were reactive. Rather than anticipating problems, they dreaded getting blindsided by some sort of monstrous catastrophe. So, tell the truth (at least to yourself)… proactive or reactive thinking?
Could you and your firm benefit from a more proactive approach to thinking about the problems that beset your company? I’d be willing to bet a dollar to a dime that it could. If your answer is a strong “Yes, I (we) could be more proactive and enhance our thinking,” here are four steps to go about it.
1. Plan your thinking time.
If you’re mostly reactive, planned thinking time will suffer because “we’re too busy.” Planning means you calendar it. Pick a time, say once or twice per week, when you allocate an hour to formal thinking. You’ll discover your rhythm and needs. It might be a time during the weekend, outside of your regular work schedule, or it could be during the week. Whatever time you pick, it should be a time when you’re at your best. That means that your energy is high. One of the worst times is at the end of the day because research has shown that making decisions throughout the day (which we all do) tires us out. When we’re tired, we make poorer decisions, and the quality of our thinking decreases. So be sure to schedule a time when you feel great and can accept the challenge and demands of an intense thinking session.
2. Prepare for your thinking session.
What tools do you need? I recommend NOT using a computer because of the potential distractions. I prefer to use a yellow pad and the Pilot G—2 .05 mm Extra Fine or .07 mm Fine pen, all purchased at your local office supply store. You might consider using a journal instead of a yellow pad where you can formalize and capture your historical process. Next, eliminate distractions so you can focus.
3. Problem.
Present a problem whose solution would have a strong impact, something with a solid return on your time invested (ROTI). Look at these four dimensions of business where ALL business problems reside:
- Management
- Finance
- Marketing, and
- Economics (this is the stuff outside that impacts your firm, e.g., interest rates)
Pick a dimension where you have a problem. This is a good place to start your thinking. Identify the problem and create a clear problem statement in a sentence or two. What exactly is the presenting problem? This step is critical. Philosopher G. K. Chesterton nailed it when he said, “It isn’t that they can’t see the solution; it’s that they can’t see the problem.” And clinical psychologists have long observed that people define problems in ways that prevent their solution.
4. Perform.
Take action on your thoughts. Ask yourself, “What’s the outcome I’m looking for, and what’s the next physical action required to move this situation forward?”
This is a great way to get started on proactive thinking… four simple steps!
One of my mentors taught me that business is a thinking sport and that the best thinkers are likelier to have successful businesses. I agree. I challenge you to become more proactive and enhance, upgrade, and improve your organization’s thinking processes. I guarantee you’ll see the difference in your top and bottom lines.
Don’t hesitate to reach out if you’d like to discuss your situation. I’m devoted to helping seasoned business owners, leaders, and managers achieve their business goals. Contact me at my personal email, jvcastiglia@icloud.com, or call me at my cell: (949) 338-7141 from 7 a.m. to 7 p.m. Eastern Time, Monday through Friday.
Jim Castiglia is the founder of Business Street Fighter Consulting and supports entrepreneurial business owners in their desire to grow and maximize the value of their business. He can be reached by email at JimC@BSF.consulting or by phone at 949-338-7141. Visit www.BSF.consulting
