Have you really got what it takes to run your own business

A number of years ago I bought a copy of the e-Myth Revisited by Michael Gerber – I found the book and the whole concept to be a real game changer as far as my coaching business was concerned. If you have not read the book I urge you to buy a copy this weekend and make plenty of notes.

Michael Gerber says it as it is, he does not hold back with his ideas and thoughts – one of those was all around what he called the Entrepreneurial Myth where most businesses fail because they are not founded by a true Entrepreneur but by a Technician who suffered what Gerber described as an ‘Entrepreneurial moment or impulse’.

The problem is that for most the ‘Entrepreneurial Moment’ is literally just that – the business founder who is probably working for someone else comes up with an idea which turns into a business, sadly there the Entrepreneurial spirit dies. What happens to the individual is when reality hits home the dream begins to fade, in turn they lose their vision and they fall back into their comfort zone of either being a Technician or a Manager. Now there is nothing wrong with that because every business needs not only the Technician and the Manager on board but they also need the Entrepreneur. Let me explain the various roles:

• The Technician
  This person represents the present and all that needs to be done for the physical aspects of the business building process. They are the “doer”. This is usually the most visible person of the entire operation.
• The Manager
  This person represents the past and works to fix problems through learning from past mistakes. They are the practical side of the business, craves order and are in charge of putting together the business and overseeing the planning.
• The Entrepreneur
  This person represents the future and the vision for the business. They are responsible for the creative side of the business and are always considering ways to enhance products/service, improve the business image, processes, people, branding and more.

All three of these characters are essential for the success of any business and to build a solid foundation from the start. If you as the founder of the business do not possess all of these skills (and you probably won’t) you need to work harder to find the right people to put in these roles. Obviously, you need to be one of these key people, but ensure you find the role that fits your skills and talents, not necessarily what you THINK you should be doing.

As the person who started the business, this may be a hard process for you as you will need to relinquish some control over the business and instill trust in people to allow them to do their jobs. The true entrepreneur builds a business that runs itself in the hands of the successful manager.
Remember your mission from day one is to build a better business not a bigger business

What every start up needs and in fact every business needs is what Gerber describes as ‘3 people in 1’ Business Founder or a complimentary team of people, each taking responsibility for the various functions needed to run a successful business.

If you are struggling with any areas in your business why not let us help you through this entire process and teach you how to avoid falling victim to the e-Myth why not contact me: Howard@kentconsulting.ie for some friendly advice.