What I’m Thinking About: Hardworking Owners, NOT Working Businesses
Most small businesses don’t work, but their owners do--way too much and for far too little.
In a 2015 online article for Inc.com, Bill Carmody states that 96% of businesses fail in the first 10 years. Believe me, I understand their pain. For the first 10 years of my own small business, three words--frustrated, exhausted and stuck--pretty much described me--especially the word stuck! I thought I had to have all the answers, know how to run the whole business, and be everything to everybody.
Why You Might Be Thinking About This: Your Business Feels Stuck
The majority of our time in The Sandbox Group is spent with small business owners who find themselves frustrated, exhausted and STUCK! Many small business owners try to do everything and be everything to everyone. The result? The business gets stuck in a rut or, worse yet, fails. If this sounds like a feeling that you've had, or you're worried that you’re heading down the wrong track, how do you get back on the right track?
Why It’s Worth Thinking About: There Are Effective Ways to Become Unstuck!
As part of becoming unstuck, I humbled myself and sought out a business mentor. For a proud male entrepreneur, asking for help was not an easy task. I approached a seasoned small business owner, Keith, and asked for a little bit of help. Keith, shared his time, experience and expertise because he vividly remembered a time in his career when a mentor helped him get unstuck.
Keith helped me identify 2-3 areas in my business where I could create the most efficiency and effectiveness. He then helped me identify others within my staff who had strengths in areas where I continually struggled. Keith’s counsel? Go with your strengths and let others go with theirs. A simple solution to what seemed to be a complex problem. This worked like magic!
For the next 15 years, I spent 90% of my business hours doing the 2-3 things I was a "rock star" at and empowering others to spend 90% of their time on areas in which they could create efficiency and effectiveness.
What are the 2-3 areas in which you could become a “rock star” at in your own business? Are you putting 90% of your effort there? Shifting from doing trying to do 100% to spending 90% on your strengths may be the difference between Success and Stuck!
Does your work WORK?