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If you are asking "Work what?", the answer is your business. You have all heard how easy it can be to become so immersed in the details that you lose sight of the big picture. In other words, you can't see the forest for the trees.

Now, we all know it's tough not to get involved in the day-to-day operations of your business. It just can't be helped when you're the key decision maker. Even if you expertly delegate responsibilities, some of the decisions are going to wind up on your desk. On the other hand, someone has to be guiding the ship with a goal in mind.

Perhaps the best way of expressing this concept to CEOs or managers is: "You have to work the business and not work in the business." In other words, you have to work the big picture if you hope to achieve your goals. With the New Year in front of us, now is the time to allocate some time to a serious planning effort.

What you need to know to get "working"

"Working your business" means doing an analysis of where you have been, making corrections, then planning out your next year or business cycle while always keeping the end goal in mind.

Looking at this another way, you always want to be in a position of strength in case an offer is made on the company, or your family has to execute the terms of a buy-sell agreement. So put on your investment banker or consultant hat, and view your business like they would if you hired them to make the company as valuable as possible.