If you run a business, you know there are periods when you wonder how you are going to get through it all. It often seems like the business owns you instead of the other way around. There is a better way.
In my early entrepreneur days (the mid-1980’s), I ran across an absolute game-changing book that helped me understand where I was not prepared to be a success in business. The book permanently changed my perspective on how to run a business. From the principles learned, I continued forward to build three successful and nationally recognized technology companies with 1,000’s of clients, in just about every industry.
This book, The E-Myth, “Why most small businesses don’t work and what to do about it”, has been named the #1 business book of all time. It presents powerful lessons about why people go into business and how they try to run them without a foundation for success.
The author, Michael Gerber, suggest that most businesses are started by “technicians” who enjoy the hands-on work more than the idea of building a successful organization. Because of the bias, these entrepreneurs set their attention working in the business when they should be working on their business.
There is a simple and effective way to counter the E-Myth tendency. Entrepreneurs should be building their business as a prototype for a large number of franchises that can be created over time. When the entrepreneur adopts this scalable mindset, they can participate in the business as a technician and can act as a manager (putting systems and controls in place) and as an entrepreneur (a visionary that can create a sustainable entity).
Businesses that are built by someone who understands the roles of the technician, the manager, and the entrepreneur will have a substantially greater chance of success than those who “think like a technician”.
Gerber explains businesses generally go through three phases:
- Infancy – when the technician is predominant and supplies most of the output
- Expansion – better management skills are required to supply order and build systems
- Maturity – entrepreneur perspectives are needed to supply the “vision”
McDonald’s, Walmart, Disney and Federal Express all have been built on a scalable model as sighted by Gerber. This is not to say every small business should seek to become another conglomerate but should seek to build repeatable business systems and processes that provide the foundation for predictable success.
In our Mastermind Group, we spend two weeks learning the principles outlined in Gerber’s book The E-Myth. The wisdom gained from The E-Myth has been a game changer for most all of the clients we have worked with.
I invite you to join one of our Mastermind Groups. Our weekly sessions are designed to coach you, educate you and mentor you toward new levels personally and for your business. You will learn how to build a sustainable business that works for you!
Contact the coach by selecting this link Mastermind Group. Positions are limited availability.