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E-Myth – “Why most small businesses don’t work & what to do about it”

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Business Boot Camp Intro Part 4 | Edmonton Business Consultant

50% of all marriages end in divorce, but there’s arrogant entrepreneurs out there thinking that their employees are going to stay forever. Sorry to break your hearts right now, but the average length of stay for an employee in 2019 is 2.3 years. So you better have an absolute HR machine behind you. Um, so you can a extend that 2.3 years and be not be susceptible if somebody does leave. Mm.

Yeah, I can see why I couldn’t cause it’s mad.

I’m going to real break some hearts here that employees will stay forever, that employees will stay forever. There’s your myth that employees will stay forever. 50% of all marriages end in divorce, but there’s arrogant entrepreneurs out there thinking that their employees are going to stay forever. Sorry to break your hearts right now, but the average length of stay for an employee in 2019 is 2.3 years. So you better have an absolute HR machine behind you. Edmonton Business Consultant, so you can a extend that 2.3 years and B not be susceptible if somebody does leave. Okay. The other one is that employees will always be happy with you, that employees will always be happy with you. Progress, hope, friction is fiction. So lyrical miracle, I ripped that off from somebody. Progress without friction is fiction. They are not always going to be happy with you. Um, another one is that people tell the truth on resumes.

People tell the truth on resumes that boy, he is value their rate of pay the malls. It doesn’t matter if you’re a jerk. If I pay them the most, they’re going to stay. That’s not really going to work out so well for you either. Edmonton Business Consultant, the other one is the number of people you need to interview to make a good hire. Most people, their first hire is going to be a friend of a friend who got recommended to them and they, or they did eight interviews and they’re going to try to hire someone from those eight interviews. Right now I’m going to tell you a number that’s going to blow your mind that I don’t want to hire anybody until I’d seen 100 people will show you how I do that versus 100 people in person. I’ll show you how I do that. Edmonton Business Consultant, that’s coming up in section eight.

Um, the also that skill is as important as attitude or your adversity quotient. And a lot of people, probably no one in this room is, or maybe you only want it to, people have heard the term adversity portion before anyone ever heard that term? Everyone’s heard attitude over skill. I’m sure you’ve heard that, but adversity quotion so Chris, I’ll give you two graduate door installers. Cool. Do you have a one garage door installers got 20 years experience. Ease is a, he knows everything that you know. Am I give you another guy? He’s only got a year experience. Okay. He’d serve serverless ball. He can go off when he has questions. He’ll make a mistake once in a while. The Guy with 20 years experience, the minute it gets cold, the minute apart doesn’t come in. He’s going to go home. But the guy with one ear, let’s say out there, when it’s minus 30, he’ll, you know, he’ll figure it out, no run or the parts store himself, he’ll get it. Which one are you going to hire?

So, uh, the law, Edmonton Business Consultant, the former, uh, we call him door divas. They are, they are, there are guys that have been in the business for a long time and they think they know everything and not only that, they know more than you and blah, blah, blah. And the other one is a, is the calm Greens there. They’re great. They’re, they’re agreeing to it. I will take the green guide every time,

every time that your employee desires will always align with the business goals. You know, as entrepreneurs are going to shift, you’re going to determine different directions and you’re coming in super motivated on a Monday and you’ve got this plan worked out in on where we’re going, we’re going to grow this business. Can all your employees, that ain’t the sitting there. And they were fighting with their spouse on the weekend and their kid was up all night. And they could care less what’s happening and work today. But today, this was the biggest day in your business career, so your employee’s values won’t always align with the business, is that employees only need to be told values and objective once to be effective. That they only need to be told values once to be effective. If anyone’s been in our office, Edmonton Business Consultant, we have white boards and written at the top of every one of our whiteboards every single time, every single day.

We bring it up all the time. And we have meetings every morning. We have meetings every week. We bring it up all the time. You have to repeat it over and over. If you have a strategy, if you have a vision to you, it’s, it’s real. It’s in your head all the time to your employees. They heard it once at one staff meeting a year. Yeah know and they’ve completely forgotten about it. Um, don’t be that employer, okay. That you can get employees to do what you want. I want you to be there at 8:00 AM. I’m going to roll in at about nine 30. How long do you think that’s going to last? It’s not going to last very long. Edmonton Business Consultant, that price is the number one consideration in your customer’s buying decision. Chris, have you ever gotten a job where you weren’t the cheapest? Oh, oh

man. So I’m my record, uh, for, Edmonton Business Consultant, for not being the chief business with alcoholics. That was $1,000 over what another person was quoted. And I still got that job. Reason being is because of my experience. That guy was hiring someone on Kijiji. He was going to put the door in a four and he had, he actually had a spare one, so he goes, ain’t gonna charge with the door and blah, blah, blah. The thing is, he was going to install the same door that the correct customer currently had. And I looked at him as like, you sure, because that door was rusted completely. I completely, it was, it was falling apart. And I’m like, so you’re going to make the same mistake twice. Uh, and that customer respected, especially when it had to say, Edmonton Business Consultant, I gave him my price and uh, he went with me because he saw the knowledge and the experience that would have brought to the table. He knew when I put that door in, it was in, in for a very long time and was guaranteed to yourself. I get huge push back on this when I’m doing business plans sometimes and, and unfortunately the answer is ruffles, a lot of feathers, you know, I have to be the cheapest. So it was like you only have to be the cheapest because your value proposition and your presentation sucked. That’s why you have to be the cheapest.

So, and if anyone doesn’t believe me, I’m going to do a little bit of an experiment here. Who drove here today? We’ve gotten a car and drove here today. Who drove here today in a Nissan versa.


Esau versus right year after year after year is one of the top five lowest cost of ownership vehicles and not a single one of you bought them because they’re ugly and they suck and nobody wants to drive. Then hold up your phones. Everyone hold up your phones. I want to see your phones. I don’t see a single Nokia gas store phone that I can get for 20 bucks, but that’s the cheapest. But everyone of you are running around in your business saying, I can’t get work unless I’m cheapest. Well, yeah, if you’re the new P at gas station phone, maybe that you can’t get work unless you’re the cheapest. Do you have to build that value into your service or product or service? Lot

can be said for that. Like there are people are willing to give you more money so long as they understand what that money is going towards and it’s your job to tell them that. That is the biggest Edmonton Business Consultant, biggest advice I can get down. Anyone here, they want to give you that one, but they will give you that money. So long as they’re getting there, they’re, they’re going to get the value at it.

Minimizing expenses will help you win business. But keep in mind, I’m a CPA telling you this right now, that minimizing expenses will help you win a business. When a business is a myth, minimizing expenses to win is an employee kind of mindset. Okay? Because when you’re an employee, you get a relatively fixed salary. Maybe you were a couple more hours, but there’s nothing much more you can do if you want to win and your personal financial picture, you minimize expenses and saved the most in business. Is your revenue fixed? Chris? Can you earn twice as much next month? Probably. Yeah, so we can change that number. Minimizing expenses. You know, often we have to buy back time and we have to buy systems that provide us more customers. Okay. That perfectionist win at business, that perfectionist win at business. I love that people come in and tell me, I’m a perfectionist. When people tell me that I’m a perfectionist, I hear this, I hear you don’t hit deadlines and you don’t complete projects. That’s what I hear. You got to get it done. Done is better than perfect every single time that your customers will come just because your product or service. We’re good. Chris was a second generation graduate door installer. He was the best, the best of the city. And when you open up your business, did anybody come?

No. No. Again, the same example I said before, nope. Nope, no one knows that. I know. I know many people who are excellent at their jobs. Edmonton Business Consultant, Matt for example, it is amazing at what he does. Kevin Halo Towers on my basement in my house and it’s fan tastic but you’re only as good as what people know. Let people know. So that’s the, that’s the hard part

that you can build a sustainable business or make major changes in one year. I’m going to go to $1 million in my first year. Yeah. Maybe you could win the lottery too. Um, you could also get hit by a bus while at the same odds as, as, as doing that. So you know, most people are going to completely overestimate what they can do in a year and underestimate what they can do in 10 that you can tackle only the types of projects that you like. I can keep having to take the garbage out at the firm. I haven’t been able to get away with it. I don’t like doing it, but I’m going to take it out. If it needs to get taken out. We’ve got a client meeting, I’m going to take it out. Okay.