Many small business owners work on a technician mode. Meaning, they don’t do a lot of managing tasks, on a daily basis, to promote their business. That can be harmful to their business. They need to put on the manager hat, and fast.
Bloomberg research states that 8 out of 10 will close the business after only 18 months! Why is that? Forbes give you 5 good reasons
I want to elaborate about reason no. 4 – Founder Dysfunction – most founders never owned a business before. For their business to grow and be successful, they need to grow, too.
The first time I’ve heard about EMyth, was on a coaching conference I attended. I then read the book EMyth, revisited by Michael Gerber and I was blown away by the concept – “work on your business and not in your business” – be a manager not just a technician.
The entrepreneurial myth is the thought that being great at what you do will allow you to have a great business. NO! You also need to be a great business owner. That is "work on your business". The EMyth company vision is helping small business owners to succeed and not being part of the 80% failure pit hole.
One of EMyth’s core ideas is the three roles (hats) of a business owner:
The Technician does all the work and works all day long. The Technician associates money with income and asks himself) or herself(, “How can I produce more, so I can earn more?” In other words, the technician trades time for money
The Manager work is a mix of technical and strategic, but focuses on getting results through others. The Manager is concerned with developing systems that consistently produce great results, and trains employees to operate those systems. For Managers, time and money are resources to be carefully allocated.
The Entrepreneur work is visionary and strategic. It gives the business its shape. The Entrepreneur is a dreamer who focuses on the future, and is eager to achieve a vision. Success, to the Entrepreneur, is about building equity and getting a good return on investment.
Each of these three personalities, within any business owner, thinks differently about the business.
A business owner may be an expert at work, but if he acts like a Technician, the company’s potential will be severely limited, relative to what it could have been. Most small business owners find themselves spending very little time doing the work of the Manager or the Entrepreneur. In order for the business to grow and be on the right track the business owner needs to put the manager hat more often and work on the business. When they work on the business it can grow. EMyth = A great coach + Great system, for small business owners success.
That is why I joined EMyth Company as EMyth Business Coach.
EMyth also provides me great tools to work with my customers. More than fifty processes divided to seven dynamics: leadership, branding, finance, management, delivery, sales and marketing. It gives business owner all they need in order to grow as managers in the business, and to allow the business to grow. Every great leader and every business owner needs a coach in order to help them grow, see blind spots, mirror and ask difficult questions and help the, grow. (Take a look at what Bill Gates has to say about it.) Having a business owner act like a manager, have great vision, great people and superb system, will allow any business owner to take vacations, while the business is in good hands.