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

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Think about how you will become a successful small business owner, says business consultant. A couple of terms that may help you and a very useful topic to explore when starting a new business is the minimal viable product, and batching tasks. So, what are these two terms?

Minimal viable product is a product or service that will allow you to become successful. Think of something that people en masse will actually gravitate toward your business.

Batching tasks is the method of putting many small tasks together and “batching” them all in one and finish them either at the same time or in close succession. This will make you far more efficient and save you more time.

Do you believe in the fact that time beats talent every time. It in fact is true. What that means is that time and effort will supersede raw talent every time. No one is born a successful entrepreneur. You need to educate yourself, and take the time, and that means a lot of time at work to learn the business and learn how to be a proper small business owner.

Do not make the mistake of leaving your full-time job, recommends business consultant, because now you have started your own business. Consider now that you have two full-time jobs and a part-time job. That’s approximately how many hours you will need to dedicate to your jobs in order to succeed proper. You will be working more hours, not less. Yes eventually the option of time freedom may in fact be there for you. After all, isn’t that why you got into the small business game to begin with? But for the fruit first few years it will take a lot of hard work and a lot more hours to make your dream of time and financial freedom reality.

With that, suggests business consultant, when you are at work make sure that all of your efforts are devoted to work. When you are at home with your family or out socializing with your friends, make sure that all of your attention is dedicated and devoted to those that have missed you and the care about you. Consider unplugging during the day and in the evenings when you’re with your family as they tell you about their day, ask to help them with their homework, make dinner, or other such relationship building conversations and tasks.

Life is all about making choices, says business consultant. Make choices that will best inspire and work for your family, yourself, and your friends. Yes, the dream of having time and financial freedom can potentially be there. However, you need to adopt a very regimented routine schedule for the first few years. Consider that you will not be bringing in any revenue or a paycheck for that matter from your new business for the first couple of years. In fact, don’t fall in to the statistic that most businesses fail within the first five years of opening. Stay the course, and you will eventually be able to enjoy much free time.

If it’s long hours that you love at work, says business consultant, then maybe owning a small business is definitely for you.

This is great, says Business Consultant. however, I’m sure that you want to think about time freedom eventually and financial freedom for yourself and your family. This can be attained, however, it is not without a lot of hard work, dedication, and sacrifice away from your friends and family. Your new business will be your new home.

Consider, suggests Business Consultant, as a way to relieve some of the monotony of always being at work, to surround yourself with the things that you love and the make you happy. For instance, and bring in to work some posters that you enjoy, some articles on your desk that make you happy and smile, or consider bringing in the people that you love to work alongside you. This will alleviate a lot of the pressures of you always being at work.

Start making choices about what’s actually important, the concept of blocking off time for personal and professional emergencies is also a good idea. If you block off time then you will still be able to get all the work done that you need to for your small business, and you will be able to make all of the required appointments and meetings.

Consider talking to your friends, employees, and family and adopt the same regimens and routines. This will keep everybody on the same routine and moving the same direction. You can plan around a rigid work schedule. If that is the case then people will always know where you are, your family knows when to expect you day in and day out, and the guesswork is taking out of your schedule. You won’t be missing in action if you regularly schedule some social time with your friends and your family as well.

In that, advises Business Consultant, turn off your technology and devote your full attention to the moment and situation at hand, be it at work or at home with your family. If you devote your time with your family as much as they miss you, they will enjoy the time they have with you. And if you devote all of your time at work to your employees, they will show devotion to you, and your business will be successful that much quicker.

Don’t fall into the pitfall of leaving your full-time day job or any day job for that matter. Your paycheck equals stability for your bills and your responsibilities to your friends family and yourself. Consider you will be working a lot more the first few years, and not less. In the long run, this will be well worth it as you eventually sustain and make it towards financial and time freedom and security. All of the hard work will be worth it in the end as you have a lot of time with your family to do whatever you like.