The stored program concept
In a Von Neumann computer, instructions and data are stored together in the same main memory, both as binary. The processor can't tell them apart by looking — a byte is an instruction only because the program counter pointed at it and it was fetched into the CIR.
Instructions are fetched from memory one at a time and executed in sequence, unless an instruction (such as a jump) changes the program counter. Because instructions and data share one memory and one set of buses, only one can be moved at a time — the Von Neumann bottleneck.