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

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There are many misconceptions that entrepreneurs have about being a business owner according to business coach. That learning what those myths are, can help entrepreneurs succeed.

And one of those myths is that business owners will be able to have immediate time freedom a soon as they open the doors to their business. And while time freedom is a great long-term business goal.

Time freedom is definitely not something that business owners are going to be able to have immediately. And is something that they are going to need to work at in order to succeed.

The first reason why business owners are not going to have time freedom immediately. Is because they are going to overestimate what they can realistically accomplish in the first year of their business.

While business owners tend to overestimate what they can accomplish in one year. They also underestimate what they can get accomplished in ten years. Which often leaves people falling short of their goals in the first year says business coach.

This is why new business owners should prepare for working longer hours than they would if they were an employee. When they first start their business, so that they can get everything done that they need.

It is also going to be important for business owners to understand. That since they will have a cash crunch in their business when they first start. They are going to have to do a lot of tasks in the business themselves.

That will leave a business owner with far more to do in their business. Then they may have initially thought. Including sales and marketing, administrative functions, recruiting and training staff just to name a few.

And not only do business owners not understand how many different tasks that they are going to need to do. Outside of working on the services that they offer in their business.

But those tasks are going to take them a lot more time than they assume. Such as the administrative duties for example. Business owners think that they are going to be easy. And while they are easy, they will also be time-consuming for business owners to do.

Therefore, business owners need to understand that just by having administrative tasks that need to get done. Mean that they are going to spend a lot more time on their business then they realize before they start.

It is also very important that business owners do these things consistently. An entrepreneur will not be able to do their administrative duties or there sales and marketing all at one time once a month. They need to set aside time every single week to do these consistently.

And when business owners start seeing how many tasks need to get scheduled in their business. They will start to see that it is not possible to get it all done in a five day work week. Which is why it is beneficial for entrepreneurs to have a six-day workweek.

The sooner business owners know that a six day work week can help them get everything accomplished says business coach. The sooner they are going to be able to have a work schedule that will help them succeed.

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While many people get into business ownership to work less says business coach. Working less is a goal that they are going to be able to accomplish later on in their business. But should not be a short-term goal.

There are going to be several things that are very important for business owner to work on in their business. On a regular basis in order to get everything done that they need.

Things such as recruiting and training staff. The reason whites important for business owners to put time into their schedule every week to do this. Is because if they do not work on this consistently.

They will find that when they need to hire someone. They will typically be very busy, which is why they need to hire someone. But now they do not have enough time to spend on doing this task effectively says business coach.

Therefore, they recognize that they need to someone, and start the process to advertise the position, and start receiving resumes. And by the time they have interviewed a few people.

They hire the best person that they interviewed. Which may not be the best person for the job. But they have run out of time, and need to get the position filled which is why they hire that person.

Instead, if business owners are searching on a consistent basis. When the opportunity arises that they have a position that needs to get filled. They will have likely met dozens of candidates if not more.

And that large pool of candidates that they have already met. Means that they are likely going to have met high quality candidates already.

And if any of these of the right fit for their business. They can call them and off them a job without having to start looking from scratch.

Business coach says by taking the same approach to staff training. Business owners can end up with staff that are trained on a regular basis. Instead of trying to train people when they are first hired.

And when a business owner is at the busiest point in their business. Regular training can ensure that all staff no not only the best ways to do their job.

But it also ensures that they know how the entrepreneur wants things done. And training can get done, even when the business is incredibly busy.

However, if a business owner thinks that they are going to be able to get all of these tasks done in their regular five day work week. They may find that it is not possible, and they end up feeling overwhelmed.

But if they schedule a six day workweek. Not only will they be able to get everything accomplished. They will be able to do so without feeling the stress of being overwhelmed. Because there is not enough time in their day to get anything accomplished.

The sooner business owners recognize this and set up a six-day workweek. The more likely there going to be able to accomplish all of the strategic priorities as outlined in their business plan.