The “Entrepreneurial Myth” is a very common misconception that someone who has an outstanding technical skill can then, in turn, manage a business that earns its profit by performing that technical skill. If you find yourself in this boat, you’ve got to read E-Myth.
The e-myth theory suggests that the founders of the organization remain “technicians” working inside their business instead of working on their business. They usually lack the growth and management skills needed to increase revenue and keep down costs.
During the E-Myth Mastery Book, Michael Gerber suggests what he feels are the “seven essential disciplines” to master in the process of developing a world-class organization.
1. The Enterprise Leader
2. The Marketing Leader
3. The Financial Leader
4. The Management Leader
5. The Client Fulfillment Leader
6. The Lead Conversion Leader
7. The Lead Generation Leader
Before I started applying the principles outlined in e-myth to my business, my thoughts remained unclear and a source of frustration for me as to how to properly develop and execute them. A specific quote in the book helped me channel my frustration into productive business decisions that have only increased the bottom line and customer satisfaction. These seven disciplines are the “means through which you articulate your vision” for your organization. For me, that quote changed my prospective forever about what I do as a business owner and leader.
After embarking on the journey to fully embrace, understand and execute the techniques developed by Michael Gerber and his e-myth staff, I have had multiple programs developed to help automate and further organize the processes that we’re impeding our growth. In my mind, efficiency is one key to optimizing costs. If a specific task is taking 10 minutes to complete but with the aid of technology, could take 3 minutes, then you need to assess the cost in producing that technology to reduce the time to complete that task.
However, if you have an in-house programmer like myself, the said cost is less than if were to have it developed externally. The result? Hours of saved time, thousands of saved dollars and absolutely no need to hire additional employees. The biggest gain is the ability to complete ten times the amount of work we could have without the implemented system.
The ability to derive and create technology to assist in my business has helped us phenomenally. Even if your business isn’t mostly centered around technology, there is a way to integrate it throughout your business to help optimize your operations and expand margins in places you thought we’re completely needed in the beginning.
It goes like this, a customer searches for a keyword on Google. You have written an article which targets this word and have rendered it to a website which Google likes. The client finds your clause on page one, reads it, clicks on your internet site link, and jaws your internet site. All release best, you will have about affiliate link click-throughs, and special sales in there! That’s the beauty of affiliate marketing.
Very good article and advice to other business owners. I am a great fan of Michael Gerber and his books, particularly the E-Myth Revisited. I have web site devoted to free information about some of the concepts he shares.
It is amazing how thousands of businesses have made progress with this information. As new entrepreneurs enter the market, whether young people entering technology or the baby boomer entrepreneurs restyling their careers, they need to know of this resource.
Shallie Bey
Smaller Small Business Blog
Thank You!
Well said