The Merriam Webster dictionary defines innovation as "the introduction of something new; a new idea, method, or device." This is a fine definition for linguists, but we at E-Myth scoff at this definition, as it applies to business! Just because something is "new" doesn't mean that it's good for the company. Pain...
Unfortunately, there's no great alarm that sounds when the time is right to leave your cozy, home-based business environment for a commercial building. It’s a decision that should be the result of a strategic plan, and not simply a reaction or the desire for a change. In this article, I’ll discuss some of the crit...
Your starting point: Developing a clear vision The starting point of designing, or redesigning, a business to be something exceptional, vital, and profitable in the marketplace is to develop a clear vision of what the business will look, feel, and act like. This includes developing brief descriptions of your uniqu...
The approach
We recently received a request from one of our readers to write about how to take the first steps toward becoming a franchise. I immediately thought of my friend Dino Dakuras, a restaurateur who has taken the EMyth principle of the Franchise Prototype to heart in the process of franchising his own business. Since ...
Have you ever played that game where you repeat a particular word over, and over, and over until suddenly, it just doesn’t sound right anymore? At a certain point, it stops making sense. The phenomenon is called semantic satiation and it happens in business all the time! We have a tendency to overuse terms until, ...
Anything that can go wrong, will go wrong.
I read a statistic the other day that said on an average day, you will be interrupted every eight minutes. Every eight minutes your attention will be taken away from what you’re supposed to be doing, and directed toward something else. Every eight minutes you’ll lose focus. You’ll shift gears. You’ll have to start...
A family business is any business in which a majority of the ownership or control lies within a single family and there are two or more family members directly involved. We've also heard it summed up in one word: complicated.
In 2009, almost 560,000 new businesses were started every month. Interestingly, however, a large number of these were classified as “non-employer” businesses – in other words, sole operators with no employees. Many consider these individuals to be freelancers as opposed to “business owners” although the distinctio...
One of my clients, a veterinarian, recently questioned me about an article he’d found on the Internet written by a business coach (not affiliated with EMyth in any way). This article implied that the EMyth perspective mandates that the Technicians of the world: the plumbers, the doctors, the contractors, the desig...
If one advances confidently in the direction of his dreams, and endeavors to live the life which he has imagined, he will meet with a success unexpected in common hours. —Henry David Thoreau What defines “success” for an entrepreneur? Success means different things to different people. There's no clear cut, univer...
If you’re familiar with EMyth, you already know a bit about what we affectionately refer to as “the EMT,” or the three roles every small business owner plays: the Entrepreneur, the Manager, and the Technician. Defining the business is entrepreneurial work, doing the hands-on work is technical work, and managerial ...
In order to create an EMyth'd business, you have to create a systematized business. It's absolutely critical to the future growth and success of your business.
Time management skills In these modern times we are turning to more advanced tools - such as automated machinery and advanced software applications - to increase productivity. But as our use of these tools grows, the more responsibilities and activities we are able to add to our day, which results in the need for ...
It's important to understand that from my point of view, the entrepreneur is not a "person" but a part of everyone's personality. The entrepreneur is our visionary, the creator in each of us. We're born with that quality and it defines our lives as we respond to what we see, hear, feel, and experience. It is devel...
A good coach will make his players see what they can be rather than what they are.