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

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Edmonton Business Consultant | Entrepreneur Myths – Part 2

Um, that you could only work four hours a week and build a visit. Who’s read a Tim Ferriss this four hour work week here? Anyone read? Tim Ferriss says it’s going to teach you some great principles batching, but I’m going to tell you for the average entrepreneur, it’s like trying to coach a hockey team and pretend all of your players skate like Connor mcdavid. It’s not gonna work statistically working four hours a week, like since it, yeah, if you’re, Tim Ferris is going to work for most of you in here, sorry to break your hearts, it’s not going to work for you. If I tried that, as an Edmonton business consultant,  or you try that, you’re going to go out of business. Um, number three that you can change your schedule whenever you feel like it.

Chris, how did your suppliers and your customers feel like when you change your schedule? Oh yeah. Big. A big bathroom. We’ll probably get to that a little bit later. Is that yet, Edmonton business consultant, uh, is that when you’re the boss, you can do whatever you want right on one of the company? Uh, it turns out when you’re the boss, you do have a boss. And that is every single person that comes into your door at one of your business. So therefore you have to operate, uh, to fit their needs because they will find someone else who will. That’s cool. [inaudible]

and a lot of people, this is the reason why they get into business. They get into the business because they’re working at a job. And then it’s like, well, if I work for myself, I can have the most flexible schedule and work less. And that is just not, the trajectory is this hustle businesses, successful businesses start with a very intense schedule and they’re able to over time, get back to the original schedule, they’re working. And then over time you get to an even better schedule. I’ll, you know what that last one happens. So that’s really what successful entrepreneurs, you know, pretends to happen. We’re going to pull up some schedules and know, I’ll give you some examples of that after that. Um, that things that don’t appear in your schedule will get done in your free time. Chris, how good are you at knocking out the strategic initiatives?

They’re known in the calendar. Oh and I am the worst at that and I don’t, I don’t think there’s anyone here that’s very, uh, that, that, that could be good at that. The thing is, when you have so many things on your plate, if they’re not in front of you glaring and Shit and, and saying, hey, this needs to get done, chances are because your mind is so set on building, did I get to this customer? Did I do this? Did I do my paperwork? Kansas are little things that you did not put on a, on a list or on a calendar aren’t going to get done. It’s just, that’s what a good Edmonton business consultant can show you. We tell ourselves is that you can sleep in and do the work later, that your Edmonton business consultant can sleep in and do the work later. There’s a lot of statistical evidence that the successful entrepreneurs start earlier. It’s not that there isn’t some night hours out there. I’m just saying if you want it to be the car counter and improve your chances of success, you’re going to start earlier with people that you genuinely need to coordinate. A lot of times you want to coordinate with bankers or insurance agents or your accountant or your lawyer. Guess what? They’re not going to pick up the phone when you call them at eight o’clock at night. The average per average person who works to five and therefore you’ve got to accommodate that. And then if we’re up everything else that like that doesn’t about students working starts before eight or nine o’clock or eight o’clock

and you are not prepared to meet with them when you meet with them. And then there’s someone else, one of your competitors, they’re prepared before they go into that sales presentation. They are up at five, they have a four hour head start at you. That’s if you started at nine. Um, you have to be prepared for that, that that’s what your competition who are winning are likely doing. Um, this is one that Saturday is not a regular work day. I think everyone in here in this room knows that that true cause they’re here [inaudible] right. Why do you think I have this at ADM on a Saturday?

I, yeah, sorry.

That’s right. I know more people would show up if I did a lunch and learn. I know more people show up every day at 10:00 AM, but I don’t want those people to schedule a consult with me after because they’re wasting my time. Like I know how many people are going to fail. Like I, I don’t want to, you know, I don’t want to know that. Like, cause I think if you can’t get up at 8:00 AM on a Saturday, you know, if I’m running a seminar at noon on a Saturday, I think it should be about how to write your resume, not how to build a business. It’s not, it’s also goes back to what you said. Like you’re competent. Everyone’s working in your nine to five, Monday through Friday. So Saturdays at your key book, uh, uh, ace in the hole to get those things done that you couldn’t get done because you were out there earning the actual money that’s going to generate your business. So a lot of times, for me, example, I use Saturday as my admin day. Um, for events like this networking, I’m not a very religious person, but anyone ever heard that on the seventh day he rested there and heard that stuff. Everyone’s like, oh, the seventh day he rested, you rested, you’re missing the point. The other six days of the week, he was busting his ass. He was doing the other six days of the week. Everyone’s missing the point to that statement. Um, so yes, mister Edmonton business consultant, you can effectively multitask, that you can affectively multitask. Everyone gets this image of the entrepreneur getting interrupted in their phone all the time, sending texts, doing social media updates all the time. One call coming in there, employee interrupting in there who’s seen this image, who can picture this image in their heads right now is wrong. Successful entrepreneurs are like cave dwellers. They lock doors, they work on projects, they make them great and then they come out and that’s what they do and they don’t get interrupted.

Uh, anyone ever read the one thing? Gary Keller? Yeah. One thing. Gary. Oh Great. He is like the most un-distracted guy in the world. And it was so cool when I read it and I was like, oh, okay, he’s the most un-distracted guy in the world. But what the heck does he, do? Anyone know what Gary Keller does? He built the largest real estate firm in the world. Those are the people that you think would be the most distracted people on the planet. They built, you know, he wasn’t the least distract at first of all quiet and all of his competitors are. And that’s why he looked, he built the largest real estate firm in the world. Um, so it’s about time blocking. It’s about uninterrupted time blocking. Um, multitasking is an absolute myth. It takes on average 23 minutes to reach your peak level of intellectual performance once you’re interrupted by text message or a social media update.

And I love it. I want to find people who can text message and, and you know, find my competition, updating their social media all the time because then I’m competing and gets a fifth grader and then it gets easy for me. I love that. Um, that a business degree will prepare you to own a small business. Sure. Oh man, this one’s hard sometimes being in nature, but, um, I have a business degree. Who here has a business degree? One of my staff has a business degree. Um, how many things did you learn since you had the business degree?

Anyone ever show you a calendar in your business degree? What does successful entrepreneurs calendar looks like? When you took your business group? You know, did you ever have to do a sales presentation and sell something? Did you ever role play a sales situation and your business degree? Did you ever have to generate a single lead, a single customer inquiry? It business degrees teach you how to work in the business. They don’t teach you how to run the business. So, um, and I haven’t seen much difference between what school you’d go for. That’s not a, that’s not a thing. That’s just what they’re designed for. Um, and rightfully so. Only 4% of the population will ever own business. So why are they teaching the 4%? They’re going to teach the rest of the people who are going work somewhere. Um, that you can scale your business by hiring outsiders to fill key positions.

Everybody pushes back. I have made this mistake, I’ve seen my clients make this mistake. And you know, you win in business by doing something different, you’re doing something a little bit different than your competitors, right? And then you think, oh, the minute I’m going to go from one location to two or hiring or the manager, I’m going to hire me version 2.0 and statistically speaking, when you bring in that person, it is going to be an epic failure, then that’s just what’s going to happen. They’re not going to align with the culture. They’re going to be set in their ways of doing things. Edmonton business consultant, you’re gonna run up against a wall. So successful entrepreneurs know that when you’re hiring your frontline staff, your lower level positions, you need to have a certain number of those people that you’re hiring those low level positions that have the potential to be in charge one day.

And if you don’t have those people bringing on, like you won’t win. Um, and you know, I’ve seen this anecdotally, I’ve tried it and the research is very conclusive on it. Who’s ready to integrate by Jim Collins or a Jim good to great Jim Collins. Oh wait, he studied companies that outperform the market companies that outperform the market for a long period of time and they outperform the market not because of their industry. So they also perform their industry peers. He found 86% of companies that outperform the market had internally promoted CEOs was a very conclusive fact. So not only you can trust my buy a view of it, but there’s a lot of statistical evidence that supports that as well. Hear me out, an Edmonton business consultant, being a specialist in your field qualifies you to run a business in that field. Chris is a great example and this, Chris is a second generation garage door guy, right?

How long has your family been doing graduate? Over 30 years. Over 30 years. Right. Probably the best. Your ad’s door guy you will ever meet. And the technician, like if you were trying to hire a garage door guy who knows that he knows that Chris being a good technician, prepare to run a business. Yeah. No, not at all. It prepared me to do the job when I was on site, but everything else that comes before that and there’s a lot of steps to come before that before you get that lead, before you actually enter a job site. Uh, no, no, that, none of the skills that I had before that prepared me for that. It’s tough. It was tough. It’s uh, it’s been a huge steep learning curve. You’re just, I remember when I started my firm, um, I was an expert. I knew how to do tax returns and you know how to do complex tax work. I picked up on a very quick, I didn’t know how to get the sear h e file number and sign up for it and actually get the receipts from it. I’d never had to do it. Right. This is just small examples of the things that you run into. Not to mention how to build a marketing system that you’re actually going to market your business.