Should you ditch your boss and start a business? If you already know how to produce a product or service people pay for, why not build a business around it?
Let’s say you’re an awesome graphic designer and you work in a graphic design studio, you know people love your designs, so you decide to start your own graphic design company.
You start with a few existing clients, they recommend a few more clients, soon, you’re busy and you don’t have a boss anymore.
Life’s great, you feel like a kid on the first day of summer after a long school year, but soon you’re putting in 14-hour days to do the design work and all the other little things you need to do to keep the business running.
After a few weeks of work on these 14-hour days, you decide you need to hire an experienced administrative assistant to deal with all the administrative work you don’t want to do.
You also decide to hire an experienced marketer to deal with the marketing work you don’t have time to do.
You trust that these experienced people will know what they need to do because they’ve worked in similar positions in the past.
Now you’ve got people doing the work you don’t want to do, and you can focus on what you do best, producing beautiful graphic designs.
But just when you think it’s going well, your administrative assistant leaves, and what’s worse, she’s put all your financial data in a software program you’re not familiar with.
It’s a complete disaster, and on top of that, the marketing person you hired isn’t producing ads the way you want them, you decide to let them go and do the marketing yourself.
Now you need to put in 18-hour days to clean up the mess and do the backlog of design work, your projects start to suffer, deadlines get missed, quality drops and clients are getting angry.
You thought when you started your business you got rid of your boss, but now it feels like you have a boss again, and this boss treats like you a literal slave.
How did you get yourself into this mess? You’re in this mess because you built a business that relies on you!
In the book The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It. By Michael E. Gerber, says…
“If your business depends on you, you don’t own a business, you have a job, and it’s the worst job in the world.”
The top priority for a business owner is to create a business that produces a great product or service without them.
In other words, an entrepreneur doesn’t produce a product or service, an entrepreneur creates a system that produces a great product or service and removes themselves from the process.
If you want a bakery, you don’t want to make the best cakes in town, you want to build a system and hire people that bake the best cakes in town.
Your goal is to build a cake-baking system that allows ordinary people to produce extraordinary results.
How do you build a business of systems and hire people to operate those systems without you?
It all starts the moment you decide to start a business, you start by asking yourself, “What size do I see this business naturally growing to in the next five years? And what roles do I need to fill inside that business?”
For each position on that chart, you identify the result that position is responsible for and the standards to which they must deliver it.
Then you and your business partners decide which of your names will go into those positions, your name might be in four different positions at this point, but that’s normal.
Your goal is to start from the lowest level position and build systems to replace yourself in each position.
If the lowest level of your company is a widget maker, and you put yourself in the widget-maker position, you need to develop a reliable and repeatable system that anyone who fills that position can execute and successfully produce a result to the standards you’ve said.
Only after you’ve built a reliable and repeatable system do you move into a higher position like widget-maker manager and create a reliable system for that position.
You replace yourself with a system by documenting everything you do to achieve the result that you want to the standards you’ve set.
You document your process in an operation manual.
An operations manual contains checklists, templates, and scripts, you test your system by following your operations manual exactly as you’ve written it.
Once you verify that your system produces the results that position is responsible for, to the standards you’ve set, it’s time to hire someone to execute your system.
To hire someone to execute your system, put the following ad on Craigslist or LinkedIn…
“Looking for people who believe in our company’s vision, who have an open mind and want to learn new skills, no experience necessary.”
You see, if you hire someone with experience, they won’t fully buy into your system because they will have already developed the habits of someone else’s system, and if your business success relies on hiring experienced people who have their way of doing things, then the business not only relies on you, but it also relies on each of them.
If they show up, you succeed, if they don’t, you’re doomed, it’s better to have the success of your company rely on the quality of the systems that you’ve built for the company.
When a company with high-quality systems loses a person, they can quickly be replaced by a wide variety of people who are eager to learn.
When taking a systems approach to your business, think of yourself as a writer/director for a musical, you start by writing the script and the lines for each of the actors.
Then you pick out the costumes and design the sets, then you hire enthusiastic actors who haven’t played the roles before, you hand in the script, also known as the operations manual, and you ask them to memorize their lines.
These actors won’t feel like they’re part of a bureaucratic system, because the actors know that by mastering their role, they’ll be able to put on a performance with the other actors that will wow the audience.
And once the actors master their roles, you foster an entrepreneurial spirit in your people, you encourage them to improve upon their roles.
Eventually, they come up with better lines to help improve the set, once everyone is in their roles that you designed and are executing the script you wrote, you can go off on holiday or start writing something else, because the musical you just wrote is being performed night after night, without you having to be in the theater, that musical is making you money and it continues to get rave reviews from its audiences.
If you want to be a successful entrepreneur, it will require more than just knowing how to produce a product or service that people want to buy.
To be a successful entrepreneur, you need to know how to build systems inside of your business that can produce an extraordinary product without you.
In that way, you no longer are trapped by your business because your business is working for you.
That was the core message from the book The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It. By Michael E. Gerber.
This book I’m about to recommend to you is a classic business book that any entrepreneur no matter how big or small can get some golden nuggets of value from.
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Here’s A Tiny Fraction Of What You’ll Find In This Book…
✅ Your Shortcut On How To Stay Profitable And Sustainable Even In Times Of Economic Chaos?
✅ How You Can Rapidly Create An Even Bigger And Better Business During These Crazy Times
✅ Uncover How You Can Boost The Chances Of Reaching Your Goals Faster Than You Imagined Possible
⛔ Eliminate Having To Shrink, Or Close Your Business
⛔ Without Taking Advantage Of Others
⛔ Without Taking On Too Much Debt
⛔ Without Getting Rid Of The Things You Love
And
⛔ Without Stress Or Risk.
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