Mantra for small business owners
Sunday, May 2nd, 2010 at 10:11 pm
One of the favourite mantras for small businesses in recent times has been that owners need to ‘work on their business not in it’. I love the simplicity of the statement, but for many business owners the simplicity is in direct contrast to the difficulty of actually being able to put this in to practice.
Taken too literally this approach has often led owners to feel they shouldn’t be working in the business at all. Many people start up in business because they love doing the actual job – making things, selling things, teaching things – and they don’t want to lose the enjoyment they experience by getting their hands dirty. A recent E-myth news article tries to dispel (amongst other things) the misconception that working on your business means giving up the enjoyment that many owners get from working at the coal face.
Read the full article here
I’d be interested to hear your thoughts.
Tags: e-myth, EMyth, small business
July 8th, 2010 at 11:54 am
A very good and very timely article. There are some people (and many I know in the accounting profession) that have taken the concept to mean that they should have nothing to do with their business at all!
Making sure that the business doesn’t depend upon you is critical whichever role you wish to take. It’s also critical in creating real value in a business that you wish to sell.