Your Mindset Helps Position Your Business for Growth
09/08/2022
The E-Myth Revisited, by Michael E. Gerber, explains why 80% of small businesses fail. Gerber encourages owners to build firms based on more than the work of a single individual.
Self-Made
When people achieve success, the leader gets all the attention. But no one is self-made; accomplishment requires a community.
-Encouragement of parental figures or mentors.
-Investors or generous family members for capital.
-Trained workers to allow for project delegation and completion.
"If your business depends on you; you do not have a business — you have a job. And it's the worst job in the world because you are working for a lunatic!"–Michael E. Gerber.
Gerber's Quote Sounds Harsh
Truths are brutal. Namely, most successful companies have employees. Skilled workers make growth possible because:
-You get time to pitch new clients.
-You get to take breaks to avoid burnout.
-You get time to work on your business, not in the daily operations.
For growth, your business needs systems. With systems, you can hand over tasks to anyone and instruct them on what to do. Systems make you less dependent on any particular individual, thus you hire and fire your staff. Well-known brands change everyone - from the CEO to the 9-5 cubicle worker when targets get missed.
Delegation is a strength. Systems give you the courage to host interviews. Plus, change people if they are not the correct fit for your business.
Update Your Mindset
Teams achieve goals faster, and there's no need to do or figure everything out by yourself.
Avoid learning from failure. Instead, learn from the lessons of Michael E. Gerber by reading The E-Myth Revisited. View the book here.
This article is part of our Business Coaching blog series. At Dataczar we talk to a lot of small businesses. We’ve found a few books that we keep recommending time and again. To better help our customers, we’ve added a Reading List for Small Businesses to our website. We encourage every small business owner to read and keep these timeless business books on their office shelf.
