Running a business or practice can be a daily challenge. Everyone else seemingly does it so easily, so why does it sometimes seem like so much hard work? Business owners don’t always have someone they can turn to for answers to daily frustrations, which is why more and more are looking to find a business coach. The most common issues revolve around people, money and time. In particular, the lack of it. This question and answer series of articles provides scenarios for practice and business owners to find answers to those frustrating situations.
For today’s question and answer article, I have taken one that focuses around leadership and management. Rather than being two different qualities, they are interconnected. Leadership is a part of management. Management is applying the skills and abilities that shape the business and controls its activities so that it can achieve its set goals. Management includes leadership and also administration, which is about organising and controlling the activities of the people and the systems. Is it possible for a business owner to have any one with out the other? Yes. You can be purely a leader as long as you have good administrative support and a strong management team. However, most small businesses don’t have that luxury and when they do, they are no longer small businesses.
Q: I’m beginning to realise that doing business and running a business are two separate things. However, I’m not really clear on how I need to be thinking to run the business and make it really successful.
You are absolutely right. On the one hand you have ‘the practice’ and on the other ‘the business’. One is about what the business does and how it does it and the other is about the business of running and managing a business.
Too many practitioners think they are running a business, but really all they are doing is keeping themselves in a job.
Start looking at the business management side of the equation. Stand back and see the bigger picture and determine what you want it to be, remembering that if the business depends on you to function, all you are doing is keeping yourself in work and won’t ever be able to get off that treadmill until you or someone else turns it off.
Ask yourself what you really want to achieve. How do you want the business to be perceived by its existing and potential clients? Employees? Suppliers? In other words put some thinking into the business of business.
Your role is to formulate the vision and set the goals; to build the culture; to motivate and influence your people. Once you have done that, you can begin to put your thoughts into action – always with the end point clearly in mind.
How much time are you spending doing that now?
My guess, and your answer if you are really honest with yourself, is ‘not enough’.
Watch for Part Fifteen…coming next week!
Until next time…
P.S. Learn more about working ON your business–talk to the coach! Click here to connect with me!