As an EMyth entrepreneur, I find myself increasingly prepared to face the challenges of managing a law firm (and myself) through a recession and dramatic industry changes. Like all business owners, I have big dreams for my business.
Distraction has always been an issue for me because I am full of ideas, enthusiasm and energy. Beginning with the writing of my vision, values, passion and purpose, I was able to bring my dreams into focus and make strides toward my goals in an orderly and step-by-step manner. I now know exactly what I need to attack each day, week, month and year, and I can work my new ideas into the plan instead of letting the new ideas pull me off task.
Through EMyth I have taken the discipline of strategic planning into financial matters. As I build my yearly budget, I am simultaneously addressing the needs of my strategic plan. Included in my budget are earmarks for infrastructure improvements, the marketing plan, the community outreach plan, fixed expenses, a capital cushion for the unexpected, etc. The beauty of a thoughtful, strategic budget is that it enables me to say “no” and “not now” to all those wonderful ideas and opportunities that have merit but are proven distractors.
I now know in advance which charities and community organizations will benefit from my business in the coming year because they are in the plan and the budget. Saying “no” to additional requests is the right thing to do, and I am able to honestly tell the requestors that the answer is “no” because it is not in my budget. The same can be said for the numerous sales calls for marketing ideas and products. They simply are not in the budget, too. I receive the information for careful consideration, and the ideas/products can be worked into my strategic plan and budget in the future, if and only if they advance the firm in an orderly, affordable fashion. This skill alone has saved me enough money to pay for EMyth several times over.
Currently, I am working hard to separate myself from the business on a day-to day basis. Why? Two reasons. First, so I can fully devote my creative energy to my role as strategic leader of the firm, instead of having my energy siphoned off by daily tasks and responsibilities that are easily handled by others. Second, so the firm ultimately can exist in the future without me as a thriving institution where people have meaningful work and incomes. How? EMyth is teaching me to reduce business systems to writing and to build “employee positions;” thereby ensuring that everyone in the firm knows what their responsibilities are and how to discharge them. Could I accomplish this without EMyth? Frankly, no. EMyth gives me the structure to do what I know needs to be done but what I personally lack the discipline to do on my own.
In short, EMyth is teaching me valuable business skills and helping me manage my limitations. EMyth is accomplishing this while paying for itself. I have recommended and will continue to recommend EMyth to other business owners.
Topics: Client Stories