The importance of working on the business rather than in it

It’s an exciting time at FM HQ, as we’ve finally announced Freelance Mum Micro Business Retreat 2020!

We know just how hard the juggling act can be and why it’s important to take a step back out of life and gain perspective again. We firmly believe there is no better place for it, than at Tractors & Cream and with The Freelance Mum Micro Business Retreat, there is something for the whole family.

 

 

 

 

 

 

We take a look back over this brilliant blog from Rin Hamburgh as she looks at some of the best approaches, when it comes to working ON your business and how it can be of benefit all round.

The importance of working on the business rather than in it

If you had to break down your working week into hourly chunks, what proportion of them would be spent on working in the business versus working on the business. By that I mean, how much time do you spend doing the do – making your products, working with clients, sorting the admin – versus planning, strategising, clarifying your vision, setting goals.

Working on the business is vital but too often it gets pushed down the to do list as we frantically try to meet client deadlines and get orders shipped. All the while juggling the million and one other things we Freelance Mums have to do – the cooking, the washing, the cleaning, the ferrying of children to music and drama and football.

No wonder taking a break to plan where your business will be in five years feels like a luxury! But of course, it isn’t. In fact, without taking a step back and looking at the big picture, you’re likely to drift and either not achieve those goals you had back when you launched, or at the very least get there via a much longer and more complicated route than you need to.

 

How I learn to be more on and less in

Next month will be three years since I launched Rin Hamburgh & Co. Back when the first website went live in August 2016, I didn’t have a clue where it would all end up. I didn’t even call the business an agency, that’s how unsure I was of what I was doing!

The best thing that ever happened to me was chatting to the lovely Claire Stone, who I met at Freelance Mum, over a coffee one day and hearing all about the Entrepreneurial Spark programme. A business incubator with a focus on growing and developing the business leader not just the business itself. I applied that day.

It was the smartest business move I ever made. Previously I’d spent the majority of my time writing copy for my clients and editing the work of my small freelance team. Now suddenly I was being asked to explain my business model to my mentor. I was being challenged on whether I knew my numbers, not just now but for the future. I was pitching to a room full of strangers.

Why stepping back propels you forward

It was a huge challenge because it felt like a distraction when there was website copy to be written and blog posts to be proofread. But if I hadn’t stopped and looked at my numbers, for example, I wouldn’t have realised I could afford to bring on a part time assistant. If I hadn’t given some serious thought to my profit margins, I would still be underselling myself.

Today Rin Hamburgh & Co is a team of five with a six figure annual turn over. We’ve won a number of awards and been featured in Bristol 24-7 and the Bristol Post. We’ve worked with multinational clients and on five figure projects.

None of this would have happened if I hadn’t taken time on a regular basis to stop, reflect on what we’ve been doing, look forward to where we’re going, adjust the vision, set goals, make plans and learn new skills to keep propelling us towards my dream business.

Don’t get me wrong, I still have to challenge myself pretty much daily to make space and time for working on rather than in the business. Thankfully we’re back on what is now called the NatWest Accelerator programme, so I’ve got a new mentor to be accountable to!

How to be more on and less in

As I’ve already mentioned, having a mentor or an accountability partner can be hugely beneficial. That might be a coach like our very own Karen Cook, it could be a fellow Freelance Mum who you meet up with regularly or someone else in your industry. There are also accountability or mastermind groups, where small groups of business owners come together to help and encourage each other on a regular basis.

Carving out ‘on the business’ time in your diary and guarding it ferociously is important too. I have two hours on a Friday that I call my reflection time, and I really notice the difference if I don’t do it.

 

 

 

 

 

 

You can also set aside a special day every now and then – perhaps once a quarter – where you can really focus on all of that big picture stuff. Because sometimes it takes a while before you can relax and get into the right headspace where you’re not worrying about what to cook the kids for dinner.

But don’t forget the value of working on your business with others, which can be incredibly encouraging and inspiring. And if you’re looking for an opportunity, check out the Freelance Mum Micro Retreat. What a perfect chance to reflect, learn, chat and have fun with a bunch of other mums in a similar position to you. Not to mention being surrounded by beautiful countryside like you will be at Tractors & Cream!

Whatever time you can squeeze out of your schedule to work on rather than in the business, you won’t regret it. Yes, you might not be earning money directly by working on your vision, your financial forecasts or your customer journeys. But you’ll be laying the foundation on which you can build a business that serves you and brings you exactly the kind of success you’re looking for.

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