refocus insight on small home business

I thought I’d share some information from a top business expert Michael Gerber and his famous book: E-Myth Revisited, Why Small Businesses Don’t Work and What to Do About It. I remember reading it a few years ago with some uncertainty. But I must say my current home business has helped to refocus my time and energy. Now I have different insights and thought they might help anyone contemplating a small home business.

First, the premise of the book is the belief that many businesses fail because the founders are technicians that were inspired to start a business without knowledge of how to run a successful business. A key component in that equation is how to market successfully...and that in itself, could involve years of training and practice.


The assumption that many people make is that because they are experts regarding technical details of a product or service, they will also be an expert at running that sort of business. If you are a great cook with special ethnic dishes, you should be great at opening up a restaurant. If you are a excellent computer technician, you should be able to operate a computer service business. But as it turns out for many, this can be part mythology and a bad assumption.

Here are some of the lessons that I learned to apply to my profitable home business:

1) Don’t only work in your business; make sure you also work on your business.

How many small business or home owners do you know who work 24/7 trying to handle every single technical detail day to day? At one time, I also worked hard “in my business”, often consumed by details.

Now I invest some time developing a long term plan and vision; in other words, I work “on my business.” You need to develop systems and business procedures to ensure the success of your company over a long term range. It's best to work with conscientious, like-minded people who engage in similar goals and support.

In the earlier years of my business, I kept everything in my head. Later on, I learned that I would need to create formal systems and write out formal procedures. A critical component was a simple, formalized marketing plan. This one strategy is essential to a growing, thriving business that people want to talk about.


Next time, more about refocusing on some home business "myths."

AnneMarie

amarie10@gmail.com

ps..drop me a note if you'd like to share some of your business "stories".