Good morning 😊 , Entrepreneurs, Small Business Owners and Business Enthusiasts! | Sonu Goswami
Good morning 😊 , Entrepreneurs, Small Business Owners and Business Enthusiasts! Ever felt like running a business is like being in a prison? The business that was supposed to free you becomes your prison. It can’t operate without you. It becomes the work you love to do + everything else, and YOU are now your own biggest liability. Hmm 😐 the problem is not your business my dear friend : it’s 👉 you! You need to change your perspective. You need to start working ON the business, not IN the business! You need to build a business that works without you. Within the first year of starting a business, at least 40 percent of businesses fail. Then, within the first five years, more than 80 percent of these businesses will die and most of these failures are due to the E-Myth. Today my book 📗 review is a must-read for anyone looking to start a business or grow an existing one, providing valuable insights into the challenges and opportunities of entrepreneurship. Whether you are a seasoned business owner or just starting out, the lessons in The E-Myth Revisited book by Michael E.Gerber are sure to inspire and guide you on your journey to success and help you as a small business owner to break free from busywork and turn your company into a well-oiled machine that could run smoothly even without you. First, Let's Reveal *The Entrepreneurial Myth* and then explore further insights in the presentation. Do small businesses are started by true-blue entrepreneurs.? In reality, many begin with skilled individuals like carpenters or designers who, while proficient in their craft, often assume their technical prowess alone can sustain a successful business. We all have multifaceted personalities, with often-conflicting traits. Everyone who goes into business is actually with 3️⃣ different persons combined in one. 1️⃣ The Dreamer (Entrepreneur) 2️⃣ The Organizer (Manager) 3️⃣ The Doer (Technician) all bundled up in one. In order for businesses to grow and evolve, the business owner must be willing to change to meet the business needs. Michael explains the 3 growth stages of businesses. ✳ Infancy: In the Infancy stage, your business requires the same care and attention as a newborn, ensuring it takes its first steps toward growth. ✳ Adolescence: Much like guiding a teenager, the Adolescence stage demands structure and discipline to help your business navigate the turbulent waters of growth. ✳ Maturity: Mature companies like Federal, IBM, and Disney envisioned their future greatness from the start, setting the tone for long-term success. Successful companies like FedEx, IBM, and Disney start with a strong vision, operating as great companies from day one. Launch your business with growth and independence in mind, supported by a balanced model: Entrepreneurs drive, Managers sustain, and Technicians keep the work grounded. ✅ Lesson: You are Three People in One – Find the balance within and craft your business destiny. #entrepreneurship #smallbusiness | 106 comments on LinkedIn
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Good morning 😊 , Entrepreneurs, Small Business Owners and Business Enthusiasts! Ever felt like running a business is like being in a prison? The business that was supposed to free you becomes your prison. It can’t operate without you. It becomes the work you love to do + everything else, and YOU are now your own biggest liability. Hmm 😐 the problem is not your business my dear friend : it’s 👉 you! You need to change your perspective. You need to start working ON the business, not IN the business! You need to build a business that works without you.Within the first year of starting a business, at least 40 percent of businesses fail. Then, within the first five years, more than 80 percent of these businesses will die and most of these failures are due to the E-Myth.
Today my book review is a must-read for anyone looking to start a business or grow an existing one, providing valuable insights into the challenges and opportunities of entrepreneurship. Whether you are a seasoned business owner or just starting out, the lessons in The E-Myth Revisited book by Michael E.Gerber are sure to inspire and guide you on your journey to success and help you as a small business owner to break free from busywork and turn your company into a well-oiled machine that could run smoothly even without you.First, Let's Reveal *The Entrepreneurial Myth* and then explore further insights in the presentation. Do small businesses are started by true-blue entrepreneurs.? In reality, many begin with skilled individuals like carpenters or designers who, while proficient in their craft, often assume their technical prowess alone can sustain a successful business.
We all have multifaceted personalities, with often-conflicting traits. Everyone who goes into business is actually with three different persons combined in one.
1️⃣ The Dreamer (Entrepreneur)
2️⃣ The Organizer (Manager)
3️⃣ The Doer (Technician) all bundled up in one.In order for businesses to grow and evolve, the business owner must be willing to change to meet the business needs. Michael explains the 3 growth stages of businesses.
→ Infancy: In the Infancy stage, your business requires the same care and attention as a newborn, ensuring it takes its first steps toward growth.
→ Adolescence: Much like guiding a teenager, the Adolescence stage demands structure and discipline to help your business navigate the turbulent waters of growth.
→ Maturity: Mature companies like Federal, IBM, and Disney envisioned their future greatness from the start, setting the tone for long-term success. Successful companies like FedEx, IBM, and Disney start with a strong vision, operating as great companies from day one. Launch your business with growth and independence in mind, supported by a balanced model: Entrepreneurs drive, Managers sustain, and Technicians keep the work grounded.
Lesson: You are Three People in One – Find the balance within and craft your business
