So many really talented entrepreneurs and business professionals toil in their businesses without ever experiencing the prosperity and success that they deserve.
Because they are toiling in their businesses, and never really working on their businesses.
Michael Gerber describes the typical set-up for this brilliantly in his book, The E-Myth Re-Visited:
A future entrepreneur (perhaps an accountant, physician, attorney, coach or consultant) comes out of school with a wealth of knowledge and information, goes to work for an organization…and excels. The organization derives extraordinary benefit from the effort… and the would-be entrepreneur wakes up one day and says: “Why am I doing this for someone else, when I could be doing it for myself?”
The now excited entrepreneur goes out, hangs up a shingle, and starts to toil…only to discover a roller coaster ride of feast and famine, insecurity, inconsistency, uncertainty, and lackluster returns on the monumental investment of time and resources.
The now demoralized entrepreneur can’t figure it out. “I’m so good at what I do; I can’t understand why I’m not making the money I deserve.”
Here’s the rub: Just because you’re a good x (x = doctor, lawyer, accountant, coach, consultant…); or just because you’re a good technician; or just because you’re an expert at the top of your game, doesn’t mean that you’re going to be a good business person. They are two distinctly different skill sets; two different jobs. And you actually need to work them as if they are, in fact, different jobs. (more…)