This transcript was generated from the episode audio and may contain minor errors.
[Music]
So there's a classic business book called The E-Myth Revisited. It was written by Michael Gerber many years ago. I remember reading it, I don't know, 15, 20 years ago. I forget the exact publication date. But he really highlighted this concept of working on your business versus working in your business.
And I've talked about it or referred to it a couple of times throughout the years of the podcast here. And so today a listener is like, what does that actually mean? And sometimes I really appreciate you, our listeners, to call me to account. If I mention a concept without defining it or make some assumptions, I would love to correct that to make sure everybody knows what we're talking about. So working on your business, it actually is a super important distinction.
So let's talk about it with some examples. Examples of working on your business versus working in your business. And especially for those who are really busy and have limited time to work on their side hustles, this is why it's so important to understand that distinction. So Roman's got the question. My detailed answer will follow.
It's all coming up in just 30 seconds. [Music]
Hey, Chris, this is Roman. I've been listening for a while and have heard you talk about the difference between working on your business and working in your business. But I'm not entirely clear on what that means. Could you break down the distinction between these two concepts and why it matters for side hustlers or small business owners?
What are some of the examples of activities that fall under each category? And how can I make sure I'm striking the right balance between the two in my own side hustle? [Music]
Roman, I remember when I first read this book, "E-Myth Revisited," as I said, at least 15 years ago. I was living in West Africa, working as an aid worker and then also kind of running a freelance side hustle on the side, like back in the States doing online business. And I read this book and it made a big difference to me because I learned, okay, working on your business is kind of taking a step back from daily operations to focusing on strategic planning, growth, and improvement.
Whereas working in your business is like the day-to-day tasks and operations. You've got to produce your products, deliver your service, handle customer inquiries, manage finances. All that stuff is working in your business, the immediate needs and demands of your business. You're basically acting as an employee in your own company. That's a key point.
Whereas working on your business, you're thinking more like an entrepreneur or CEO. You're making decisions, taking actions that will drive your business forward in the long-term. So that's developing new products and services, creating marketing strategies, analyzing data, optimizing something, maybe networking or building partnerships. So the key difference is that working in your business keeps you busy while working on your business helps you grow, so important. And you might just understand, if all you ever do is work in your business, you're never going to grow.
You have to be able to work on your business to be able to grow the business. And this is something you have to kind of revisit time and time again. And you may not always want to grow your business. You may come into some seasons where you're like, I just want to work in the business, and that's okay. I do that myself.
But it's also good, normally, especially in the beginning, to set aside dedicated time for working on your business. It also helps prevent burnout in the long-term as well. So lots of good reasons why you should do that. That's the main distinction, working on versus working in an operational approach versus a strategic approach. And wherever possible, choose strategy.
That's pretty much it. Listeners, let me know what you think. If you have questions, you know where to go, www.sidehustleschool.com. This has been episode 2,741, back with you tomorrow, or the 4th of July, at least, for those listening in real time, 2742. And a new episode after that, the day after that, and beyond.
Thank you so much for tuning in. I make this podcast for you every day. My name's Chris Guillebeau. This is "Side Hustle School." [Music]
From the Onward Project.
