Here’s why 90% of Business Owners Work For an Idiot!
Since Adam was a boy those of us that have some entrepreneurial streak in them have a belief that they know best and can do it better than anyone else. True story this is what happened to me. Was working for the man and thinking why should he make all this money and I do all the work and do things his way when I knew there was better way to do things.
It was at this point I suffered what Michael Gerber describes as an “Entrepreneurial Seizure” As I soon found out having great technical skills does not mean you know how to run a business. I was a technician and I was now working for an idiot me. However that soon changed and it had to Fast
There is more to being a business owner and if you are working in your business not on it you don’t even have business you have a JOB full stop.
See a business owner needs to “Work On The Business Not In It” so the technical skills are the last thing you need as it is easy enough to employ people to do those things.
A Business Owner Needs to Wear Three Hats
- The Entrepreneur the one with the vision of the future the innovation and the creator of things new
- The Manager the one who is pragmatic does the planning and creates order
- The Technician the one who does it and is only interested in the how to do it.
So How Do You Know if You Work for an Idiot
- Does your business work without you?
- Do your team work without constant supervision?
- Is your business systematized?
- Do you spend your day doing work you love rather than work you have to?
- Are you free of your business and still own it?
Answer No to any of these well all is not lost but there is work to do
A bit more than 50 percent of small businesses fail in the first four years.
In fact, of all small businesses
4 percent made it to the second year
3 percent made it to the third year
9 percent made it to the fourth year
3 percent made it to the fifth year