How To Start A Business The Right Way? Main Lessons From EMyth Revisited Work The System

This Post: How To Start A Business The Right Way? Main Lessons From EMyth Revisited Work The System

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and welcome to this brand-new video where I’m going to be talking about how to start a business the right way this is me talking from my experience in the past year I’ve just gone past the one year mark where I’ve officially started a business and here are just some of the things that I would recommend to you guys that I’ve learned in this past year and more importantly talking about two books two books that have absolutely changed the way I’ve thought about running business and I truly believe without these box and there’s a reason why you know ninety percent or the majority of small businesses fail because these two books which I’m going to be discussing in this video which one is the e-myth revisited and the second is work the system and these two books have given me so many valuable lessons but I want to talk individually about them and more importantly you know the main lesson i got from each of them i truly believe if there’s anybody there that’s anybody watching this that wants to start their own business you have to get these books you know these are the books are that would really make you think differently about the operations that you are starting you know being a business owner is far different from having a job you know when your business owner you have to think of all elements from you know the the management of your business to the the legal side e-business to your account in there’s so many things to think about and these two books I can truly say that I’ve got some two extremely valuable insights from these books that can potentially prevent your business if you think in a scion from failing or at least you can start it the right way you can start it in a way you know you’ve got things in place that are setting you up for success so they the first book that want to talk about is the e-myth revisited this is a book by Michael E giver and if I if I butchered his name I apologize and this is the out of the two I would say this one is more recommended than the other although the both just is valuable but what I learned from this book the main lesson I want to share with you is the e-myth revisited talked about business and the you as the business owner you are three roles and basically as a business as a business owner when you’re starting a business you have to be three different roles what is the entrepreneur you need to be the visionary you need to be the person that’s got the vision of the bigger picture what you want to do that’s the entrepreneur inside you the second role that you have to play is the manager the person that controls the systems that you have in place the people that work for you and you as a manager the different operations of your business so that’s the second role you have to play and then the third role you have to play is the technician the person that Eric that you have to be able to do the job itself so in the email it talks about there’s many examples in here but specifically I want to talk about let’s say a tradesman you know a typical tradesman like an electrician or a hairdresser or whatever it might be and a tradesman wants to start his own business or her own business she’s a hairdresser and she’s very comfortable being a hairdresser and now she wants to you know take that step one Thurber she wants to start her own business so she’s extremely good at being the technician you know she she knows all the skills it takes to be a hairdresser she can do anybody’s hair she knows exactly how she wants it done so she starts a business but what the hairdresser or the electrician then found is to business the so many different things yeah for then no your accountants you need to know the legal side of your business you need to know how to manage people and you know and be able to deal with issues that come about from just managing different people and the hairdresser the technician what you find is you can get into a trap on you want everything done your way so the people that you employ if they’re not up to your standard because you’re an exceptional electrician are an exceptional hairdresser you employ somebody that’s not doing it to the standard you want you then feel like you have to be hands-on you feel like you have to take control you take charge in some in some instances you may even feel like you the employee that you have is not doing it to the same standard as you so you ask them to you know you saw storm in the situation and you say I’ll do it you know and this is a typical a trap that people fall into when they go from a technician when they go from a job to a business owner you know the technician inside you want to do everything but you have to realize that you can’t do everything is the same as the manager inside you you can’t control everything you know you need to you feel like you are losing control if you like if you know you know your task you knew you know your rolls inside out when you feel like you want to have control of everything but what basically you have to do you have to manage all three of them you know you as the entrepreneurs starting the job starting the business and you have this vision of the future what you want to build you need to be able to juggle all three and the e-myth is is brilliant in making you understand that you was the business owner you have to merge all three roles in together because if you don’t one aspect of your business whether it’s your legal you know your legal responsibilities is the direct to the business owner you know the taxes that you have to pay the you know the accountancy that you have to stay on top of you know if you don’t keep on top of any of these areas one of them is going to make your business fail you know that that’s just the reality of it and that’s why you know on the Pete on the front page you know the book title it says you know why most small businesses don’t work and what you can do about it and it’s understanding that you need to be all three roles and that is the main lesson that I that I took from it and um you know for the for the past 12 months if ever I feel that I’m the technician and I feel like I need to control everything you know I need to you know do every single roll that’s when I sit back and think know something you know I’m not doing it right you was the business owner you can take can tip it take control of each task you just can you can’t physically do it and you as the manager you can control everything you need to be able to delegate you need to be able to you know have different roles within your company within your business that you have things set up systems settle so you can delegate that role that task to somebody and you know that the standard is going to be met so that was the main lesson I learned from the email i highly recommend it that is the you know you eat there’s many there’s many different nuggets in here and you’re just going to have to go get it because it’s super bowl but that is the main takeaway that I’ve taken from there the second book I read which I actually read work the system by Sam carpenter the simple mechanics of making more and working less I read this book actually before the email and the main takeaway again how high-rez highly recommend it there’s so many different things that this covers but the main takeaway from me is the three documents three documents that any business needs what the three documents are is the first one is your main document which is your strategic objective this is a document you’ll actually see it in my background I’ve got it on my on my wall there there’s three documents there and the strategic objective is the objective of your whole business your strategic objective for your whole business what you need to realize is you and not your business you are not your company your company is a separate entity as you is you and you in your company you know you have your objectives in your life and the business that you are starting needs its own objective because we are we are emotional beings you know and then times of hardship you know whatever you know whatever situations you might find yourself in in the future after you’ve started your business you might be emotionally compromised let’s say so you might not make the right decision so you need a strategic objective that will make sure that decisions that are taken within your company within your business through the strategic objective everything that you do in your business needs to comply with the strategic objective like you have set out so that was the first one that was a great thing because that allows your whole the people that you bring into the business you know the employees that you take everything that you do is all facing one directory it’s all facing you know row in the same way if you like the second procedure the second document is what he calls and working principles these are your sets out working principles the rules if you like so for example I’ve got mine there it’s actually the middle document I believe we actually have 26 working principles again there’s examples in here of different working principle so you can adopt into your business but there could be for example one of mine is we are not firefighters you know if you’re going from every job if you’re going from task to task you know solving problems a you know firefighting something’s going wrong in your business so I have an operating principle saying we are not firefighters we are you know fire prevention specialists so that means we’re setting up systems to prevent problems arising in the first place because when a problem has arisen in your business that basically means something has been liking something for example from the email you’ve been missing something so immediately you need to have a system in place to prevent that happening so that is just one of my operating principles and I truly believe that a year having this philosophy having this belief and having these two documents to start with is set you know the my company my business going in the right direction and everybody that comes in it follows these these principles and follows these the strategic objective and the third in the third document it talks about is working procedures standing operating procedure whatever you’d like to call them and these are step-by-step procedures that anybody that comes into your business can follow so and you need to be aware that everything that you do as the business owner majority time you are starting the business so you are the technician y’all doing everything you need to understand that when you employ somebody you know that person is not going to know exactly how you wanted to him so you need operating procedures you need working procedures that will tell them step-by-step so I actually have a holder I have a folder printed out of all procedures screenshot step by steps no step is missed you know you the dummy sheets if you like you know it’s step one turn on laptop you know step to open word step 3 tight you make whatever it might be you need to do it step by step so anybody that comes into your business knows exactly how it’s done because the more you grow you know you have too many you can’t manage all the people that are in your business you know the more you grow and the more people that come into your business the way you manage them is not individuals you know you can’t go to it employee one and show them step by step you know physically hands on show them step by step and then go to employee to show them step by step what you can do is create a document create one document and then you can then share that document with everybody in your company anybody in you know you might have two people or you might have 200 people everybody’s working off the same procedure every and then if you make a change you don’t have to individually tell everybody you can make a change on your document and then everybody knows of that change and everybody’s following it because you managed systems not people you know the systems are managing people and you are in your managers in your management team managing the systems and that is what’s going to allow you to scale that’s what’s going to allow you to keep control and i genuinely believe those these two bolts the e-myth revisited and work the system and these are just two the two lessons that I’ve learned you know there’s so many more lessons but those are the two main arms and I can assure you these by implementing what’s in these books you have a potential to prevent businesses failing your business or you know if you are you’re an employee looking at helping your business owner out you know bring what you find out these books to that person RT self and i can assure you things are going to be great so that was my little 12 month anniversary since i started my business and you know I’m continue to try making the right decisions the right actions and anybody that start in their own business I hope I’ve been able to I hope I’ve been able to like provide my insight and my assistance you know the things that I’ve learned I’ve had had challenges we’ve had challenges in the business that we started but we started with the right philosophy you know and if you start with the right philosophy and you you learn you know there’s no failure you learn you know I have a my laptop here i have a win I’ll learn you know if the sort of thing that goes wrong you’ll learn from a you’re putting a system you prevent it from happening again you know you adapt you improve you update systems you you know you’re managing systems not you people so I hope that’s what I hope that being worthwhile if you’ve got any questions please let me know I will have a link go to the blog post you can go on to to Amazon I have put my you know my sort of referral links on there though I do get a small if you decide to purchase these from amazon you know I think they’re there about 10 10 or 15 pounds or dollars and i highly recommend them i have gotten paperback box there’s also kindle versions and just go check it out go check out the review uses you know the the so many reviews that you can you can start top you can read so I hope that’s been worthwhile please like the video please share the video with people that wanting to start businesses and I hope I provided some value with you so thanks again for watching and until the very next video I’ll see you again soon and good luck thank you