I’m all for blogs, podcasts, videos, and the like! But when it comes to long form content and quiet study, there’s no substitute for me for sitting down with a printed book.
Recently, I finished the popular business title “The E-Myth Revisited” by Michael Gerber; and I’m eager to recommend it to anyone who is thinking of starting a business (or in the middle of building one).
There’s some relatable content for anyone in The E-Myth, but those who would benefit most from reading it are:
Maybe this story sounds familiar: “A highly skilled technician (plumber, graphic artist, accountant, etc.) is tired of applying their craft for the benefit of someone else. Then one day, in a moment of frustration or inspiration they decide to start their own business.”
Sounds like a great idea, right! Perhaps it is.
But what most people fail to consider before striking out on their own is that the technical work of a business and running a business are two very different things.
For the aspiring business owner there are several pitfalls to avoid and solutions to avoid them, but I won't spoil the book for you!
The ideas that resonated most with me were:
To scale your small business, you need to constantly refine your processes (improving the way you do business). Even if you never intend to be a franchise, you should try to think like a franchise—having the goal that every part of your business could be replicated the same way 5,000 times.
Having accurate, up-to-date information on sales, expenses, profitability, time spent, etc. is an investment of time.
Owners frequently don't enjoy reporting—after all, they started the business to do more of what they love (the technical work), not to crunch numbers. But without data, they can never truly know if their innovations are working or if their business is profitable. So learn to love measurement, analytics, and data (or partner with someone who does).
Without a clear picture of the customer no business can succeed. Small business owners should ask these questions at every opportunity:
There is no risk-free path, and we all need to get comfortable with being uncomfortable.
Do the ideas and business challenges described in the E-Myth match up with your experience? Let us know your thoughts.
In our experience, most small business owners wear a lot of hats. They split their time between working in and on their businesses, and as a result some things fall through the cracks.
It's a shame too! Because marketing is usually one of the things that there's just never enough time to do. And regular marketing is critical so you can "dig the well before you are thirsty."
Harvest Media partners with busy, time-constrained businesses so they can keep their prospect pipeline full and attract right fit customers. Contact us about creating a tailored marketing package for you, and you can scratch marketing of your To-do list.
Give Your Business a Competitive Edge
“How to Differentiate Your Business” is a free guide and workbook, packed with helpful tips to boost customer loyalty and attract right-fit customers + clients.
Mike is the creative director at Harvest Media and loves to help clients grow.