Lessons For New Entrepreneurs

For people who have either been forced out of their jobs or have always wished they could work for themselves, the idea of owning a small business, at first glance, may seem like a wish come true, an article in The Portland Business Journal explains.

This is the point, however, when a beginning entrepreneur needs to become familiar with the “E Myth,” which outlines what every business owner needs to know to be successful. There are a variety of E Myth books and seminars, but the one volume that explains “what every successful entrepreneur does” is Michael Gerber’s E Myth Mastery: The Seven Essential Disciplines for Building a World Class Company.

Gerber addresses the problems faced by people who are skilled in one particular area — say, baking, painting, web design — and then decide to make the leap from being an excellent technician to being an entrepreneur.

Gerber’s experience with thousands of fledgling entrepreneurs reflects his belief that anyone in any business can run a “world class company.” In order to do so, however, a neophyte businessperson needs to focus on running a company rather than letting the company run him or her.

In Gerber’s words “The truth is that knowing how to do the work of a business has nothing to do with building a business that works. The technician builds a business that depends upon him, around his skills, his talent, his interests, and his predispositions.

In the end, however, there is little equity to show for the investment of his time. The entrepreneur, on the other hand, builds an enterprise that liberates her, creates endless amounts of energy, and increases her financial, emotional, and mental capital exponentially.”

Photo by HarperCollins.

Leave a Comment

Your email address will not be published. Required fields are marked *