Pinoy Business Coach

Enriching one's business vocabulary can surely make the difference in the life of a new Entrepreneur. As business vocabulary increases, the chances of having a better bottom line also multiplies.

One of the concepts that many of us can try to grasp is the idea of working IN and working ON the business. These two concepts are very simple but they can empower the business person to build a business properly.

Working IN a business means, working on the day to day routine and the basic technicalities that normally run to make the business survive. This includes selling, clerical, accounting, logistics, janitorial etc. The mundane but essential skills that make the business make money in it's day to day operations constitute the WORKING IN the business concept.

Working ON a business on the other hand means focusing on systems that can help the business work without the Entrepreneur being there on a daily basis. It is the creation of systems that can help a business become good to great. It is the implementation of systems that make a Jollibee or a McDonald's restaurant run anywhere in the world using local and young manpower. Working ON the business also includes knowing what Entity you are placing the business IN and the Characteristic of the business as to what asset class in derives it's income from.

To be successful means focusing on the 2 aspects of the business. It is my opinion that 9 out of 10 business start-ups fail because the Working ON part is neglected. While the business owners focus on the everyday tasks of running a business, only few Create a system to make it run without them.