Is it possible to start your own company and be your own boss in just one day? Is it really that simple? Well, it depends. Have you asked yourself all the right questions?
I often come across people who say, "Oh, you're an entrepreneur! How nice!" And I reply, "Indeed it is. I can choose which 12 hours of the day I want to work!" But talking about entrepreneurship and starting a business necessitates discussing the work of Michael E. Gerber, the Small Business Guru and author of The E-Myth and its subsequent revisions.
Michael introduces the concept of the E myth, also known as the "Entrepreneurial Myth." According to this myth, small businesses are founded by entrepreneurs who risk their capital to make a profit. However, that's not the reality. In truth, small businesses are started by individuals who already work for someone else, usually doing technical work they excel at. So, why not venture out on their own? They hang up their shingle and open their doors, but there are still many unanswered questions to address.
Michael Gerber further describes the entrepreneurial mind as having three distinct qualities, almost like three personalities within one person:
The Entrepreneur, who possesses the drive, dreams, and visions.
The Technician, who performs the actual work.
The Manager, who effectively communicates the entrepreneur's vision to the technicians to achieve the desired results.
You might wonder why I begin with Michael Gerber and his philosophy. Well, when considering starting your own business, you will find yourself wearing many hats and needing others to wear the ones that are necessary and complementary to yours. What does that mean, you ask? It means that all of us have elements of all three personality types, but we can't effectively perform all three roles ourselves.
Therefore, the first step towards success is identifying which personality type suits you best. Understanding your strengths and determining where you would best serve in your own company is the crucial first building block. You should strive to create your dream job and then hire capable individuals to handle the rest.
So, who are you, and what are you best at? Are you more suited for a desk job managing the back of the house (Manager), or do you excel at networking, sales, and marketing (Entrepreneur)? Perhaps you are skilled at running production, training, supervising, and developing processes (Technician).
It is essential to love what you do.
(To be continued...)