Working In the Business Versus On the Business
Considering private business is the backbone of our country, when you look at the success rate from start-up to success or from success to sustainability, the numbers are pretty bad. There are lots of reasons for this high failure rate such as basing strategy on the wrong assumptions, poor execution of the business plan, not enough working capital. But according to the SBA the number one reason for business failure is a lack of planning. And we agree with this.
Planning while important is not urgent. As the business owner works in their business, it’s the urgent that gets their attention, whether it’s important or not. But the lack of planning usually leaves important issues unresolved. Many of these unresolved issues ultimately become major problems the owner is forced to address. And so the cycle of urgency continues and the important stuff gets left behind. |
Turning Intention Into Action
One key to breaking the “cycle of urgent” is to Work on the Business. Working on your business is about setting the right priorities. By setting the right priorities and then focusing the team on achieving them, you move from a reactive mode to an intentional one.
For many business owners this change in focus doesn’t come easy. It requires breaking entrenched habits. That’s where NextStep fits in. We’ve designed unique tools that help business owners drive change within their organization. Our tools have helped a number of business owners turn intention into action, improving the results their organizations achieve. |
Recommended Reading
This is A.G. Lafley’s guidebook. Shouldn’t it be yours as well?
Winning CEO A.G. Lafley is now back at the helm of consumer goods giant Procter & Gamble. If you want to know the strategy he’ll use to restore P&G to its former dominance—read this book.
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