I read a very good business book many years ago, called the E Myth, and no, it did not have anything to do with recreational drugs. Rather, it was all about the mythlogising in modern life of the dream to own and run your own business. The book broke down the qualities needed to be a successful entrepreneur and identified the characteristics inherent in the other roles within a working organisation or business. The common misconception is that someone who is a great chef or cook should automatically be able to successfully run a restaurant or food business.
Is The Entrepreneurial Life Right For You
The E-Myth identified that good cook as a ‘technician’. You may be a highly competent technician fixing cars, plumbing, electrics or anything else, but it does not make you qualified to run your own business. Entrepreneurial skills are something else again, they are all about turning a good idea into a successful business. Entrepreneurs need good technicians to work for them, as all good businesses need good staff. Entrepreneurs must take calculated risks; and not all people are comfortable risk takers, especially in business. When the security of family and staff are on the line, it takes special qualities to bear up and prosper under the pressure.
Examples of entrepreneurial opportunities include: buying an existing business; starting a new business from scratch; expanding one outlet into many; and expansion interstate and overseas. Many modern Australian businesses have taken this route with success, and some have failed miserably. Some entrepreneurs, maintain a blog to record their journey of both success and failure. Sometimes these become best selling books, as the public love to share their triumphs and read about their dark times too. We cannot all be Richard Branson or Indra Nooyi, but we can thrill to their exploits.
Is the entrepreneurial life for you? Possibly not, but, often, the best means of ascertaining this, is to have a go, as we say Down Under. If this life has taught me anything at all, it is that you learn more from your failures than you do from your successes. This cliché is painfully true, I can testify to that. The idea of successfully running your own business, is a very attractive proposition to many. The reality is, that most entrepreneurs work much harder than the people who work for others. It is, however, a hundred times more satisfying to work hard, take risks and pull something amazing off, if it is your own business.