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

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Business Consultant | This Week’s Business Consultant

There are many wonderful principles and so many excellent top 10 business and small business accounting books to learn fromt. All of them, however, warrants that starting your own business is a very long hard road.

Eventually you will be start making choices about what’s actually important in your life, obviously your family and friends. Business consultant however says that the first step to being a successful entrepreneur is understanding that it will be a long, tiring, and arduous journey, both for yourself, your family and friends.

Second, when you start a new business, expect that before things get better, things will be worse, potentially not for weeks, but for years to come. Guard against leaving your full-time day job, says business consultant. You will need your full-time day job to have a continual revenue stream so that you can afford to pay your mortgage, and support your family and yourself. Eventually you will start making choices about what’s actually important, but not yet.

Next is talk your family. Tell them about what you want to do and the fact that this is going to be a very hard road however, this can lead to financial and time freedom for everyone. You will need everyone support as the proverbial work hours during the week for an entrepreneur of a small business are approximately 80 hours, not 40. Keep your family and friends in the loop as to what they may potentially expect from you and you from them. A good idea would be to plan and start a rigid routine together with your friends and family. That way everyone understands each other’s expectations. For example your family will know potentially why you will be late for dinner or where you’ll be in case they have questions or concerns and need to get a hold of you. Ultimately, keep everyone in your life moving in the same direction. Let them know that you don’t want to miss out on anythcing in them on you, and that you will regularly schedule them into your life.

A lot of business owners have a tendency to pushback on regimented, routine structure. However, that can be the enemy they say. Do not bring arrogance and ego into owning your first business. You cannot go into the business thinking that because you are a new proprietor that you can do what you want when you want where you want. Your job is to be the most disciplined of the bunch. You must lead by example and your subordinates will help you in achieving your time freedom in your financial goals. If in fact you become the most disciplined, through time you may be able to hire somebody to take some of those tasks away from you so that you will have the freedom to do what you like to do with your family and friends and begin to taste the benefits of owning your own business.

When one talks about owning their own business, says business consultant, many people don’t understand the time that it takes, the energy, and sacrifices that you need to make. Consider however that time and energy will always be done on talent every time. We know this because there are many examples in business already of people that have made it big to hard work and tenacity.

Business consultant guards against you leaving your day job however. You will not be able to work less when you own your own business. In fact, you will need to work more. In starting your own business, consider yourself not being able to collect paycheck as the new business will not be making any money and revenue for at least two years. Although it will be a very long, arduous two years, as mentioned, hard work will always win out.

Talk your family make sure they are on board with your goals and that they understand what your future will be like as you attempt to build the business and I natural and time success. Understand that you will be there for them as much as you can. However, small business owners tend to work double what a full-time worker will do in a week. As well, it is common that most businesses will ultimately fail in the first five years of opening.

Two reassure your family, when you spend time with them, make sure that you are unplugging all of your technology and making the time with them all about them, ask questions about their day, help your children with their homework, have a movie night, etc. You must be there in the moment for your family. As hard as you are working during the day, understanding your family doesn’t fact miss you and they want to spend quality time with you.

That philosophy,according to business consultant, can also be used to work as well when you are working, make it be about work. Be focused on your employees be focused of the task at hand and be focused on the growth your business eventually the long hours will in fact get easier and you will see progress.

Speaking of progress, we in fact develop motivation from progress. Enjoy the small win
in the small accomplishments, as you will find them in every day. Likewise, and still in the fact that the same things will happen to your family and your coworkers and subordinates. Allow your family, and your subordinates to learn and enjoy their wins.

Ultimately, everybody in your life be it personal or professional should be moving the same direction as you for, goal. Make sure to adopt a rigid, regimented schedule, and share it with everybody in your life, both professionally and personally.

The enemy and becoming a small business owner is thinking that you can do whatever you want, when you want and however you want to do it. That is a. It. You as the business owner should be the most disciplined.