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

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Business Consultant | Great Business Week

One of the reasons why you start your own business should be to eventually achieve and attain financial and time freedom, says business consultant. However, is a long road to achieve that. Here are some clues and some suggestions to keep you on track and on task as you try and achieve the ultimate goal.

There are two terms which may consider an infection consider when entering into a small business of your own. Those two terms are minimal viable product, and batching tasks. The minimal viable product is a product or service that you think is sustainable and that customers en masse will rush to your business to buy or inquire about, suggesting that you will very quickly be successful.

Batching tasks is a time efficiency skill where you take a whole bunch of small tasks and “batch” them together and attempts to do them either at the same time are in quick succession.

Do not make the mistake, says business consultant, of leaving your job, either part or full-time in order to start a new business. That can have huge ramifications on your paycheck and your financial responsibilities to yourself and your family. Do not expect to see any revenue or profit from your new business for at least two years. In fact, most small businesses will fail within the first five years of opening.

Start make choices about what’s actually important. Block off time either for work responsibilities or home responsibly’s. Likewise, when you are at work, unplug technology and devote completely your time to your work and your coworkers. Your coworkers will then respect you as they have your full attention when they require assistance.

As well, Business Consultant says, at home with your family be fully aware and attentive to their needs, their questions, and their stories. You are working very very hard, and they appreciated, however they still miss you.

Business Consultant suggests you attempt to keep everybody in the moving in the same direction. That includes your family, your friends, your business partners, and coworkers. If everybody adopts the same routine, and regimens there will be no surprises, and everybody knows where everybody is and whatever but he is doing, and working on. Your family, friends, and subordinates will know where you are in case they have the questions, problems, or issues. Remember, says Business Consultant, you are now a proprietor of a small business and people depend on you. If they don’t know where you are, they will not be able to instill confidence in you, ergo, you will lose them potentially as employees or partners.

A lot of business owners get very arrogance when they decide to start a new business, thinking that they can now do anything and everything that they want because the businesses now there’s. In fact, you need to be the model and the example for your partners and your subordinates. That means you should be working more, not less than anybody else. Consider that you are the model for success or failure within your business.

If in fact, you decide that you want to start your own business, and you open a business book to research and educate yourself, chances are you will find two terms, the minimal viable product, and batching tasks, says business consultant.

The minimal viable product, is the product or service that you’re going to offer that is “viable”, meaning that will keep your business sustainable, afloat, and making a profit and revenue coming in.

“Batching tasks” suggests that you take many little tasks and “batch” them together and do them at the same time or in quick succession. This is a time efficiency skill and might suggest that you save a lot of time in order to get more important things done.

Have you ever heard the suggestion that time and effort beats talent every time #this is in fact true and is proven with many other successful entrepreneurs that have worked a lot and has gone through the quote lien” years of their business. They did however put in a lot of hard work, and are reaping the benefits now of time and financial freedom.

This is a choice that they have made, says business consultant, however not without the support of their friends in their family. Business consultant says, that you should be having the same conversations with your family and friends as well as you endeavour to start your own business, work hard, and hopefully and eventually achieve financial and time freedom. Mention to your friends and your family that they are along for the ride as well and could benefit from all of your hard work eventually with their share of the financial and time freedom. However the support of them must be there as you endeavour to work long hours and are potentially very tired.

Further think about unplugging all technology, both when you are at work, and when you are at home. At work your subordinates, your partners, and your clients need your full attention, particularly if it’s a new business and they are attempting to learn the ropes. At home, your family misses you and wants to spend a lot of time with you, and don’t need your distractions. Consider watching a movie with them, helping them with their homework, making dinner, or just engaging in great conversation.

We develop motivation from progress happiness is potentially directly correlated progress, says business consultant. Make sure that you enjoy your small wins and accomplishments, as you will find them and every day. Likewise, make sure that you acknowledge and appreciate your families, your friends, and your families small wins and accomplishments as well. They will appreciated and, despite the fact that they are going through hardship by missing you they will appreciate the acknowledgement and the reminder that you still care and love them.

A lot of business owners get arrogant as they by and start a new business, thinking that it is theirs to do what they want with an when they want. Do not fall into this trap.