At EMyth, we know one of the most important shifts a business owner must make is to see their business itself as their most important product. But you might be wondering: “What does that even mean?”
You know that making the shift from your Technician personality (the one who does all the work) to your Entrepreneur personality (the one who has the vision and decides the strategy) starts with shifting your perspective, the way you look at your business, and the way you relate to it. But what often happens is that your Technician tries to put on the Entrepreneur’s hat without relinquishing the Technician’s perspective.
On average, how much of your time is spent working in your business doing the day to day tactical work involved in producing, delivering or selling your product or service?
For most business owners, when we first meet them, the answer is usually: ALL of it.
Have you ever found yourself emptying the trash at the end of the day? What about printing shipping labels, cleaning dishes, packing boxes, entering receipts or customer data, or loading trucks? (Or maybe all of these things?) And all this is on top of the work you do selling, responding to customers, completing that design, or hiring a new employee.
One of the things we really care about at EMyth is helping business owners Work On it, not just In it. By “it”, we mean the business. Most owners spend most of their time and energy In the business—involved in the day-to-day “doing it”—when the most powerful thing they can do as leaders is work On it—things like crafting a vision for the business, empowering their team, etc.
If you’re one of the many millions of fans of Michael Gerber’s The E-Myth Revisited, you know that there’s no message that’s had a more universal impact on business owners than work on it, not just in it. Over the last 30 years, since The E-Myth was first published in 1986, this phrase has become part of the business vernacular.
Have you ever stepped back from your business for a few hours to think about what you want this company to give you? Maybe it's the dream you started with, the one that gave you the momentum and courage to quit a job and venture out on your own. Maybe it's the time and support you want to dedicate to your family and community.
When you really break it down, a salesperson who has the highest lead to sales conversions is doing one thing better than everyone else: leading the sales conversation.
If you, in your sales role, or your salespeople are not leading the conversations you’re having with prospects, then the only other thing that can be happening is that the prospect is leading. There are only two options.
Last week I covered how an operations manual can save your business (and your life), much like the operations manual on Apollo 13 saved Jim Lovell’s life. This week, I want to take you on a journey into systems strategy:
- Reality dictates you will be building systems while working in your existing business. We call this working in ‘Old Co’.
- Using the EMyth Seven Dynamics will allow you to prioritize which systems to work on and in what order, to get results.
- Creating a systems strategy helps you to prioritize working on your new business (what your business will look like in the future). We call this working on ‘New Co’.
During the last long-haul flight I was on, I re-watched ‘Apollo 13’ (the one with Tom Hanks as Jim Lovell). Perhaps not the best choice as I was hurtling through the sky at 500 mph in a tin-can myself, but there’s something to be said for the thrill. If you haven’t seen the film, it's based on real-life events and it’s gripping.