At a recent Chamber of Commerce conference that involved 300 chamber organizations of all sizes from the states of Missouri, Arkansas, Kansas & Oklahoma, one of our presenters spoke highly of the book The E-Myth Revisited by Michael Gerber. Mick Fleming, President of the American Chamber of Commerce Executives, said it was a pertinent book for our small businesses and entrepreneurs as well as our own organizations.
The E-Myth, or Entrepreneurial Myth, states that most new businesses are not started by entrepreneurs who set out to build a strong business but by technicians who enjoy the hands-on work themselves. Because of the natural bias, most business owners focus on working IN their business when really they should be working ON their business.
There is, however, a simple and effective way to offset the E-Myth tendency. Instead of looking at the business as a one-off operation, the owner should consider the business to be a prototype for a large number of franchises that will be added at a later date. By adopting that mindset, the business owner will not only participate in the business as the technician but will also act as a manager by putting systems and controls in place as well as an enterpreneur who has a vision of how the business can create sustainable added-value for key stakeholders.
A business that is built and managed by someone who combines the approach of the technician, the manager and the entrepreneur will have a far greater chance of future success than one guided by someone thinking like a technician alone.
For those who would like to explore the E-Myth concept further, check out their blog at www.e-myth.com/blog/
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One of the challenges I faced in the early years of our business was in understanding the need to let go and hire others. Just because I could do something did not mean that is the thing I should be doing. When money is tight it is tempting to try to wear every hat and be the technician, manager, janitor, computer technician, ad exec, etc. Hiring other small business professionals to help in specific areas provided time and energy to focus on the bigger things that were getting buried.
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