Are You Aiding & Abetting E-Myths?

Posted by Small Business Connecticut on March 27, 2014

We are going to embark upon a journey through the world of e-myths and debunk them to help you avoid falling into the e-myth trap.
First, let’s take a minute to talk about what an e-myth is. An entrepreneurial myth, or e-myth, is an assumption that anyone can succeed at business with:
• Desire
• Some capital
• Projected a targeted profit

This sounds great, but it just not realistic. Think of starting a business as a marathon. Sure, everyone starts out of the gate at record pace, but after a few miles people start slowing and some drop out entirely. Building a successful business takes stamina and agility.

The reality is that there are many different facets to a successful business and none of them can be ignored if you plan to find success.

Let’s take a minute to talk about entrepreneurial seizure. This defines the roller coaster of emotions that comes with starting, nurturing and the potential failure of a business.
The emotions that occur, in order, are:
• Exhilaration
• Exhaustion
• Despair
• Sense of self-loss

This is usually cause by the e-myths and assumptions we talked about. You can get your hopes so high on instant success that even the smallest lag and you are sent into an emotional tailspin. This is also brought on by the stark realization that you can’t do it all and will need help in the areas where you don’t have the knowledge. Now, faced with limited choices you may feel like you need to back out and hide, but don’t do this. Remember, success comes in the form of a marathon.

Small Business owners feel alone. This is very normal. Whether you use Small Business Connecticut to help you or hire an advisor, be sure to find the right partners to help you when emotions kick in. More importantly, finding the right partners to support your strategy and business goals is even more important.

Feel free to use our free 4 video test drive to get some of the business coaching you need (SmallBusinessCT.com) and help avoid feeling overwhelmed and defeated.

You are NOT alone.