Are you strategic or tactical?
Don't get me wrong, a successful business needs both; strategies and tactics (among other things, of course), but what I would like you to ask yourself is this...from which perspective do you most frequently approach and run your business?
Many owners are gifted technicians, but may fall short and not approach their businesses as effective strategic leaders.
So, if you are not being strategic, who in your organization is? If you are not proactive, who is?
Ask yourself the following questions:
Do you see the big picture and have a long-term view?
Do you think more like a CEO or an employee?
Is your leadership purposeful, proactive and plan-based?
Do you focus on the entire business and not just the technical work of your business?
Have you shaped your business more by design than by default?
Did you answer "no" to most of these questions? You may be operating as a tactical, reactive business owner. Reflect on that…can you make some changes for the betterment of your company and for you?
Here's one more question to ask yourself: how much is your time worth per hour? Seriously, as the owner of your business, what do you honestly believe your time is worth?
Most owners undervalue their hourly rate. Some may merely divide their compensation by the hours they work. But this approach just tells you what you are paid per hour, not what you are truly worth.
It’s imperative that you assess an appropriate hourly rate for your time. Otherwise, you run the risk of not protecting your time as the valuable asset it is. And as a consequence you may frequently find yourself doing the wrong type of work.
Challenge yourself to approach your business with a strategic mindset, and assign yourself an hourly rate worthy of a big business CEO. This can be a very revealing exercise, and can help you realize why you may be prone to tackling low-value tasks too frequently.