Business
I
f you own a small business or want to own a
small business, this article
is for you. More than 80%
of startup businesses fail
within five years. As an entrepreneur, business plan
writer and coach, I often
ask why businesses have
such a large failure rate.
I also ask what successful
business have in common
that allow them to succeed.
At the basis of every business is a root idea, a core
vision, a philosophy that
sets in motion how you operate, how your employees operate and how this
affects sales. For instance,
if you are a sloppy person
or unfocused thinker, your
business will be sloppy or
unfocused too.
Businesses that work know
the business. They develop systems and train staff
rooted in that knowing.
Successful
companies
hire managers employees who are aligned with
the company roots, its
core ideology, how everything works within the
business. Because of this
alignment, they are empowered. They are clear
about what they do because the foundation
is so clearly laid out. Michael Gerber’s book “The
E-Myth: Why Most Businesses Don’t Work And
What To Do About It” talks
about this in terms of how
success comes from developing a turnkey operation. This can only happen
if you know your roots and
develop a system that
supports expansion.
The problem is that most
people start businesses
not as entrepreneurs but
as people who have become fed up with working
for someone else. They believe that they can do the
job better than the company they were working
for. Some people go into
business because they
love to cook, sew, clean,
invent things, etc. But just
being a good cook, for
example, does not naturally extend to opening a
successful restaurant.
up with restaurateurs, thus
allowing each partner to
focus on their own root
skills. If we continue with
the restaurant example,
let’s assume the expert
cook does not have a
partner who knows about
running a restaurant. In
this case, it becomes very
important to hire staff who
can support this. I am not
suggesting that the cook
should not expand into
other roles, but I am suggesting that knowing your
root skill is akin to knowing
your core competence.
When you know your own
core competence, you
can build a business that
supports everyone aligning to his or her own core
competence. When everyone in the business is
aligned with their roots,
the business has a much
more solid chance of survival and success.
Good cooks who succeed in the restaurant
business usually partner
Since 1994, Rishi Gerald, founder and CEO of RishiVision and entrepreneurial
coach, has empowered thousands of businesses. Rishi has an 5 ???)????????????????????????????????????? ??????????????!?????)??????????????????????????????????????????????????????????????)?????????????????????????????????????????????????????)???????????????????I?????????????????????????????((0