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How to work ON your business and not IN your business

by ContractRight.com | Follow on X here

You have probably heard someone in the business community tell you that you need to work on your business and not in your business, but what does this mean for an entrepreneur? How can it be done? This video covers four ways: sales, differentiation, systems, and being more productive to help you work on your business and not in your business.

1) Sales: without sales, you cannot support contracting a workforce organically, meaning your company sales pay for labor costs within the organization. If your company cannot produce revenue organically, you will have to use external sources. Sales make the engine of your business go; without them, you can’t reach your next destination. 

2) Differentiate: showing the difference in your product or service will attract more sales and increase your margins. Higher margins allow you to produce more income, allowing the company’s capital to be put to work by contracting or hiring people to do needed jobs. More sales will help you free up your time as an entrepreneur / CEO to work on more executive-level work. I recommend more sales work. 

3) Systems: creating personal systems with your mission, roles, responsibilities, and whatever else it takes to make it easy for others to do that role. It will allow you to transfer the work to someone willing to get paid doing the daily activities you need to be done, like an independent contractor at ContractRight.com, freeing up your time to work on the business. 

4) Being more productive: figuring out how to make labor in your organization more productive will lower your cost and allows you to do more with less money. Maximizing labor will reduce project costs and allow you to produce more profit. 

See the video for a more in-depth explanation: 


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