What Does “Working on the Business” Really Mean?
“Work on the business,” says every coach, consultant and guru, “not in the business.”
Up to a point, I agree.
I’ve helped hundreds of CEOs establish a vision for their companies, dare to set larger goals for growth, and innovate to stand out from the competition.
Every one of those things is foundational, and transformational, for a company that wants to accelerate growth.
I also agree with the idea that executives shouldn’t be stuck in the weeds: dealing with all the small tasks that chop up their time and prevent them from doing leadership-level work.
But here’s what I don’t agree with:
I don’t agree with using the concept of working “on the business” as a hall pass. Using it as an excuse to follow shiny objects and side projects.
As a way to justify distraction or a lack of discipline.
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Companies don’t move all that quickly. Even the most agile ones take 90 days to get things done (fully, completely, signed-off kind of done).
And teams can’t focus on too many initiatives at once. Remember that in general, especially at the middle manager level down to the front line, every OKR that gets created is a project someone needs to complete in addition to their daily work.
Throw too much into the mix, or try to turn on a dime, and things just stop. Instead of accomplishing more, faster, you accomplish very little at all.
That’s why focus is the name of the game. And why I think working “on the business” as a concept is a little overplayed.
If I’ve been working with a team for 18 months, and they aren’t undergoing some major strategic pivot in their business (that is well thought out and intentional), I should know what to expect from their quarterly meeting.
- A fairly successful previous quarter, with at least 80% of OKRs completed
- A limited number of new OKRs (3-5 max) as top priorities for the next quarter
- A good foundation for alignment within the leadership team (discussion on some of the details, but no major philosophical debates)
Some quarters, we’re adding in an exciting strategic initiative.
Other quarters, we’re basically eating green beans.
Hit your numbers.
Make sure your customers are happy.
Make sure your team is happy.
That’s what matters most.
And sometimes, what matters most is all you need to worry about.
Adding more doesn’t necessarily make things better.
It usually makes things harder.
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One of my clients just had an extremely successful acquisition.
I couldn’t be happier for them (or prouder of them).
I knew they would hit it big, because I saw how they worked.
Smarter, not harder.
Other companies are often shocked to learn that my largest clients tend to have the fewest quarterly goals.
Sometimes they set just one OKR.
And the whole team, the whole company, aligns around doing just one thing for 90 days.
They block out the noise. Say no to anything unnecessary.
And stick with the one thing that will move the needle in the business.
What could that kind of focus do for your company?
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What I’m ultimately trying to say is this.
Working on the business isn’t a bad thing.
But sometimes working on the business simply means: how can you think at a high-level about how the business needs to hit its fundamental targets?
There’s a time for inspiration, for innovation.
And there’s a time to keep it simple and stay focused.
Time and again, I’ve seen the companies who can do that…
Are the ones who win.
