“The E-Myth Revisited” by Michael Gerber is a business classic first published in 1985.
Gerber’s essential message is that it’s a myth that entrepreneurs start businesses, instead technicians start businesses. For example, the engineer starts an engineering business, the baker a bakery, and the truck driver a trucking business.
The reason most businesses stay small or fail is the business owner is too busy doing the technical work to properly manage the business and/or create growth opportunities.
For a business to succeed it has three needs – technicians to do the work, managers to manage the work, and entrepreneurs to spot opportunities and create winning strategies.
Understanding strategic (entrepreneurial) work versus operational (managing and technical) work is vital, especially in small businesses where the owner usually juggles all three.
With the current Covid-19 disruption and tough financial times, technicians and managers may be made redundant and their roles absorbed by remaining staff, including the owner.
Such downsizing may force the owner to do more managerial/technical work, at a time when the business needs careful governance, bold leadership, and entrepreneurial thinking. During uncertain times such as now, the natural inclination is to retreat, play it safe, and stay in our comfort zones.
However, investing time, energy, and resources into business recovery planning helps avoid this trap.
The discipline of systematically analysing risks/opportunities and creating an action plan for each of the 10 departments in the business forces the business owner into a strategic/entrepreneurial role. We call this process “leaving no stone unturned”. Allocating time to this important work at this time of crisis is critical to ongoing success.
Register now for Q2’s “Embracing the New Business as Usual” webinar at 2pm on Tuesday 28 July 2020 where we’ll take you through the process of leaving no stone unturned and the mindsets that help implement effective change in your business. Click here.
“Even if you are on the right track, you’ll get run over if you just sit there.” – Will Rogers