How many of you having been wearing all the hats of your business for too long, and it’s starting to weigh in on you?
You’re feeling the burnout. Like you want to quit.
Fun fact: did you know that almost 80% of small business stop being in business before they hit the 5 year mark?
It’s not because they failed as a business – quite the contrary. Most of the time, it’s actually because they got too busy and simply lost interest and got too overwhelmed, so they closed up shop for good for something easier.
And the ironic part is most of us get into business and start running our own business because we want a flexible schedule, and we want to live the life we want.
Yet more often than not, this business of ours seems to take over our lives.
We feel guilty for taking a day off. We have a never ending to-do list. We simply lose the motivation keep going.
Wanna know a secret that no one really talks about?
YOU AREN’T SUPPOSED TO WEAR ALL THE HATS.
Boom. controversial. crazy. Wow.
If you wear all the hats for 5+ years – chances are you will also be a part of that statistic. It’s simply not sustainable.
In the book the E Myth Revisited by Michael E. Gerber:
- Every business owner takes on three distinct personalities in how they think about—and work within—their business. The Technician lives in the present and is focused on doing the work of making it, selling it and delivering it. The Manager focuses on achieving results through people and systems, focusing on the present and strategizing for the future. And the Entrepreneur defines the business and focuses on closing the gap between where the business is today and where they want it to be.
- Entrepreneurial work is strategic in nature. It involves dreaming, focusing on the future and developing a vision of where the business can go. This vision is specific in terms of what the company will do to serve the wants and needs of the owner.
- Managerial work is both strategic and tactical, with a focus on the present and on achieving results through others. The Manager is the pragmatist, planner and organizer who turns the vision into action.
- Technical work is the hands-on work of the business—doing the production and delivery of the product or service. The Technician lives in the present and relies on the guiding structure of the company’s systems to get the work done.
- The Entrepreneur makes time each day for strategic work to ensure that the company is on course to meet the vision. This time is critical to the Entrepreneur’s future.
- The Manager sees time in relation to personnel and production, knowing the importance of using every precious moment to produce. Managers take the company’s strategic vision and plot moment-by-moment tactical action to accomplish that vision. Time for the manager has both long- and short-term considerations.
- The Technician sees time as the present moment and focuses on what can be done today. The Technician strives to complete as much as possible now, recognizing that more production equals more money.
So now that we know we need to play more of the role of the Entrepreneur, how do we do that?
We hire people to help us cover all the bases.
One: Here’s what to look for when considering to hire someone:
- What’s a mundane task that you dislike doing?
- What’s a task that takes up a lot of time, but doesn’t always NEED you to do it?
- What’s a job that takes up a lot of time and is tedious?
Two: How to hire someone
- Make sure they have great work ethic
- Host interviews, look at their previous work
- Find someone who genuinely wants to get to know you – asks a lot of questions
Three: Training them is important
- Create a specific job description for each person who is hired. Divide the tasks.
- Come up with a fool-proof system of how to do each task that is in their specific job description
- Make sure they have a clear understanding and training on how YOU do these tasks – make it clear, simple, but also thorough.
Hire hire hire hire!!
Make sure to include them in your annual expenses – figure out annually what it will cost to hire them, and include that in the amount of revenue you need to bring in this year to cover that.
Hiring help will help you go further, and help you be the entrepreneur you’re supposed to be in this business!