| One of the major reasons that so many small | | | | a business you know very little about. If you cannot |
| businesses fail each year is that people assume that | | | | make donuts, then open a donut shop. Why? |
| because they know how to perform a skill or trade, | | | | Because if you can't make a donut, you will be |
| that they can run a business selling that skill or trade. | | | | forced to hire someone who can. This will |
| Michael Gerber calls this the e-myth or the | | | | immediately free you up to run your business. Just |
| Entrepreneurial Myth. He argues that just because | | | | because you are good at something does not mean |
| you are a chef it does NOT mean you should open a | | | | you will be good at running a business. |
| restaurant. He believes that you can succeed or even | | | | So instead, put your energy and hard work into |
| increase business profits doing something you know | | | | learning the basic principles of running a good |
| nothing about. | | | | business. From management to advertising and |
| When we have all of these people running off trying | | | | budgeting to investing. If you do this, you will be able |
| to run a business in a trade that they are very skilled | | | | to run your business and also ensure that your |
| in, a few things happen: One is that they begin to be | | | | business succeeds. It doesn't mean you cannot invest |
| overly focused on doing the work and not running | | | | in a business that you don't enjoy, it just means that |
| the business. They slowly lose control and the | | | | your focus needs to be on the business and those |
| business begins to run them. Ownership turns from a | | | | that are talented in a specific trade will have a hard |
| freedom based life-style to a ball and chain. | | | | time sitting on their hands. Wearing all the hats is not |
| The answer is keeping yourself out of the inner to | | | | how you run a successful business. Being able to hire |
| do's of the business and maintain an outside view so | | | | the right people to do everything that is required well |
| you can run, operate and manage your business as a | | | | - is the secret to running a business that profits. |
| whole. And the easiest way to do this, is to get into | | | | |