Finding the Right Balance: Working On vs. In Your Business

In this edition of the Whatif? Wednesday Thought Letter, we delve into a crucial question for any leader, be it a CEO, founder, executive, or frontline manager: do you have the right balance between working on your business and in it?

Understanding Your Role for Success

Success hinges on clarity in our roles and mandates, and understanding what excellence looks like. We all strive to serve our customers, internal partners, and stakeholders effectively in our day-to-day operations. However, an equally important aspect is contemplating the business’ future trajectory and the essentials for continued triumph.

The Challenge of Strategic Thinking

Leaders in today’s dynamic environment often express a common difficulty: the challenge to pause and reflect. Caught up in the whirlwind of daily operations, many find it hard to step back and ponder the critical questions that shape the future. It’s a classic case of trading future growth for present stability.

Beyond an Organizational Issue

This is not just an organizational-level dilemma; it permeates through departments, functions, and teams. Engaging in discussions about market trends, sector movements, and organizational directions naturally leads to vital questions about people, processes, and technology.

A Case Study in Strategic Planning

Consider an instance where, in collaboration with a client, we centered our discussion around four pivotal questions:

1. What will be our sources of future growth?

2. Is our organization structured to support this growth?

3. Do we have the financial resources to fund our expansion?

4. Are we equipped with the right talent and skills for our growth strategy?

These discussions compelled the leadership team to confront their reality squarely, leading to greater clarity on their strategic gaps and a commitment to re-evaluate these questions semi-annually.

The Ideal On vs. In Ratio

So, what constitutes the right balance between working on the business and in it? Leaders must tailor this ratio to their specific business, function, and team needs, integrating it into their operational rhythm.

What if you dedicated 20% of your leadership time to strategic thinking? How would that reshape your focus? Consider the impact of sensing market trends, technological shifts, and developing potential future scenarios. This shift in perspective is not just organizational but personal too – how much time do you devote to your own growth and relevance?

A Call to Reflection

As a leader, take a moment to reflect: How much time are you truly investing in the broader scope of your business, your team, and your personal development? If you find the balance lacking, the pressing question becomes: what are you going to do about it?

Let’s embark on this journey of strategic balance together.