What is the main reason for up and coming businesses so splutter than fail? That is a question that many people ask themselves once they start a business, it becomes so rigorous and hard to maintain the business and to also excel that many people give up and they fail at what they wanted to do. Well there is a reason that people fail at running their own business and there is also a system to follow if you want to run a successful one too. In the next few paragraphs I will be talking about why small businesses fail and what can be done to keep this from happening.
At the very beginning of The E Myth, Gerber talks about the fatal assumptions of Entrepreneurs and that assumption is: "if you understand the technical work of a business, you understand a business that does that technical work."
English: Jagriti Chadha, Indian Designer, Entrepre...
Business Entrepreneur
business_routes(p. 13). This is never the case at all, and this is the problem that many people get themselves into when starting a business. Just being good at one your profession is just enough to get your business up and running but it is not enough to keep is successfully running for years to come. "The real tragedy is that when the technician falls prey to the Fatal Assumption, the business that was supposed to free him from the limitations of working for somebody else actually enslaves him."(p.14) This is what you do not want to get yourself into when starting a business because if you do you are destined to fail. There are three roles in every small business that takes place in the Entrepreneur that is: The Entrepreneur, The Manager, and The Technician. Being able to balance all these things out in yourself is what will make...
Good info.
I plan on starting my own business after college, so this information was very interesting to me. Well organized and written as well.
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