Small Business

Get Out of the Daily Hassles and Make Your Business Work for You

Introduction

Without the right skill sets, it's nearly impossible to have a successful small business. Current estimates are that between 67 and 90 percent of businesses will fail within the first five years.  And if that’s not difficult enough to accept, 80% of those that succeed in the first five years will fail within the next five years.  This can be devastating for an owner who puts so much of their time and money into starting and running a business only to see it go under.  It can also be extremely difficult for their family, employees, friends, and the communities in which they live.  The time between startup and failure can be incredibly stressful, overwhelming, and take a huge toll on health, finances, and relationships.

The biggest reason businesses struggle is lack of the skills, attitudes, and habits necessary to make a small business succeed. Many people who  start small businesses are skilled technicians, producing a quality product or service that benefits their clients.  They fail to realize, however, that they need  different skill sets to grow and manage a business.  Instead, they struggle to get by as long as possible, failing slowly at first and then all of a sudden when the business ultimately collapses due to lack of attention to the skills that are crucial for success.  

In his book, ‘The E-Myth Revisited,’ Michael Gerber identifies three main skill sets necessary to sustain a successful business. The first is the Entrepreneurial skill set, the second is the Managerial skill set, and the third is that of the Technician.  Gerber’s work provides a simple and powerful framework for organizing and running a successful small business.  Using his terminology, here are the essential steps for successfully running a small business.

The Entrepreneur’s role is to create a clear compelling vision and strategic plan for the business and then clearly communicate this vision and plan down through all levels of the organization. The Entrepreneur must regularly monitor (not manage) business operations to make sure the products and services are in alignment with the core vision and values of the business.  This skill set looks into the future and steers the company in the direction of the prevailing trends and the needs of it’s customers.  

The Manager’s role is to implement the strategic plan in daily operations. The manager systematizes the steps needed to get the desired outcomes.  The ideal manager plans and organizes the work, positively motivates everyone to work the plan, and holds everyone accountable for following the proven steps that lead to success.

The Technician’s role is to work the plan. The technician produces the final work product or service.  The role of the technician is to produce quality outcomes efficiently and effectively and to achieve their specific goals detailed in the strategic plan.

For small businesses with many employees, the above roles are often distributed amongst various individuals.  For sole proprietors, it’s necessary for the same person to wear all three hats.  Regardless of the size of the business, however, failure to adequately address all three roles spells disaster or even the death of the business itself.

Our developmental coaching process draws from the best of the E-Myth and other small business development approaches to help you create systems for success that will make your business more positive, productive, and profitable.  If you're tired or stressed from working too hard in your business, let us help you work on your business in ways that will make it easier and more rewarding for you.

When you get your business running like a high-performance engine with each cylinder working at maximum power and minimum friction, and all cylinders firing optimally together, then you more quickly and easily move toward your goals and realize the joy and freedom of business ownership.