When you know the difference, you’re better poised to move your business forward.

If you’re a business owner or manager that never seems to have enough time, you need to ask yourself, “Am I working on my business or working in the business?” When you distinguish the difference between these two activities, you give yourself the freedom to be more strategic with your time.

Working in the business

If the focus of your days is putting your skills or knowledge to work for clients, you are working in the business. If your working hours are consumed with making deliveries, paying invoices, staffing or dealing with conflict, you are working in the business. All of the above are important functions, but they’re not activities that will ultimately grow your business.

Working on the business

When you’re working on the business, you step back from daily activities and view your operation from a strategic point of view. This means making time for goal setting, financial projections and identifying opportunities. Working on the business also means making time for education and personal development, establishing systems and identifying tasks and processes that can be automated.

Managing time better

If you have employees, identify work you do that can be delegated. If you enjoy working in the business and don’t want to give it up, or if you’re a team of one, schedule time each day to work on your business. Many business consultants recommend dedicating one to two hours daily for business strategy and growth.

Remember you’re not alone

One way business owners burn through hours is by trying to do everything alone. Delegate as much as possible. Turn to a mentor when you need a fresh perspective or advice. And when it comes to banking, our experienced commercial loan officers are here to help you with lines of credit, payroll and more.

Do you have business banking questions? Contact our knowledgeable commercial loan officers online or call 800-991-2221. We’re also available to help in person at your local Consumers office.