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Pinellas Park, Florida, United States
I founded Core Business Solutions with the goal of helping business owners improve operating results, add value, and recapture the energy and passion that was present when the business was new. We also have the expertise to assist start-up companies create the foundational structure needed to provide the best opportunity for the business to grow and prosper in uncertain economic times. Our goal is to help the business entrepreneur/owner, through mentoring and coaching, develop or enhance managerial skills while providing that independent and objective advice and expertise usually provided by a board of directors.
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Wednesday, April 1, 2009

How Does Anyone Avoid The E-Myth?

First- what is the e-myth? E-Myth in the business vernacular refers to the Entrepreneurial Myth, and refers to the fact that most businesses fail because the founders are technicians that were inspired to start a business without knowledge of how successful businesses run. The mythic and often disastrous assumption is that people who are experts regarding technical details of a product or service will also be expert at running that sort of business. In some cases the business starts up ok but at some point a growth plateau is realized with no apparent reason.

What's happened? The business owner has become an employee of their own company and is working deep in their business. Doing $12-$20/hour tasks instead of delegating these to others and working on their business.
The solution can be stressful for the business owner as they have to learn to "let go" of activities they think no one else do or can trust to do properly. In my experience, the answer is a slow progression of business growth type tasks that the owner must commit to doing each day and leaving other smaller priority tasks to others. Hopefully, over time, the owner develops new daily activity habits that stick and the owner sees the positive impact of working on their business. Remember, we as business owners initially are the ultimate "do-it-yourselfers" which is why and how the business got started in the first place. We think we are all invincible and can do anything. Right? ........... Wrong! The sooner we learn that we can not do it all, the better off our company is and our business lives get better and miraculously even our personal lives become less stressful. Isn't that cool?

If the situation above sounds like you: Stop.....Look......and Listen! Take a deep breath. Think about what you do each day. Is there something you shouldn't be doing or can delegate to someone else? Are there things that are continually on the back burner that could really help you grow your business? Maybe you just need an accountability partner or an impartial third party to help you. No matter what you think you can not be and do all things and do all things well. You'll be spread too thin and less gets done right or on time!

Be a good business friend and if you know someone who fits this scenario talk to them about it.
You'll be helping them and yourself as well.

Until next time.....Here's Wishing You A Prosperous Week

Walt Morey


Marty Thomas said...

I'm Interested in your thoughts.. Does 37signals or E-myth have the right philosophy for business start-ups today? www.purlem.com/blog/?p=38

Waltmorey said...

I think E-Myth is better for businesses who have started but hit plateau early (1st 1-2-years). Not familiar with 37 Signals.
I like 'Start-Up Chat' by Eric Locken, published by Interview Books as it provides feedback from many different companies with very different demographics. There are more reasons not to start a business which are ignored as the propective new business owners typically look at things with 'rose-colored glasses' and they sometimes develop a false sense of safeness with their decisions. This happens more often now with the multitude of MLM's using slick marketing techniques to recruit new people. I think the biggest reason for these MLM failures is a lack of real sales skills.

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