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You think it's simple don't you?

Written by: Michael Gerber

Article Overview: Well, creating an entrepreneurial business isn't simple at all. Nor can you buy one.

You think it's simple don't you?

Well, creating an entrepreneurial business isn't simple at all. Nor can you buy one.

In fact, businesses you buy are not built for entrepreneurs. They're built for technicians and managers.

They're built for people who want to work IN the business, not for people who want to work ON the business as true E-myth advocates do.

The truth is that very few businesses of the millions that are started every year are entrepreneurial businesses. Most are simply jobs for the people who own them.

So, if you are determined to own your own business, and are equally determined to do it as a true entrepreneur would, the following are the six rules of engagement:

1) Do not look for a business to buy. As a true entrepreneur you will rue the day you did.

2) Which means that you are going to begin the process from scratch. This is where the most fun is.

3) Start the process with nothing in particular in mind. Just because you bake "incredible, mouth watering pies" do not start a pie business. Do not, do not. You will rue the day you did. Instead, begin to look around at every transaction you see. In hotels when you visit one. In restaurants when you visit one. In a shoe store, a department store, at the counter at the airport, in a travel agency, at Walmart, at Starbucks, at McDonald's. Yes, everywhere. And ask yourself this question: "What's missing in this picture?" And then see what comes up. You'll begin to notice a lot that's missing. More than you can possibly imagine. Write down what you see in a pad you carry with you wherever you go. Create a headline on the pad which says: Opportunities Worth Pursuing.

4) At the end of every day review your Opportunity pad to summarize what you discovered that day. Mark whatever seems worthy of further scrutiny with a red pen. Review those marked the following morning and see what comes up. Write what comes up in a separate pad called Significantly Interesting Things. As time goes by you will begin to become more and more interested in the Significantly Interesting Things among the Opportunities Worth Pursuing. You will begin to discover (what a wonderfully entrepreneurial word that is!) what a wonderfully surprising world the true entrepreneur lives in. That there are significantly interesting things worth pursuing everywhere you look. And each of them will tell you more about what doesn't work in the world, about what's missing in this picture. And each and every one of those missing pieces in the puzzles called businesses are pointing to entrepreneurial inventions waiting to be created by you.

5) Gradually, your entrepreneurial imagination will begin to focus in on one or two or even three really interesting problems which need solving, some more than others. Those are the ones you are looking for. For example, my wife, Luz Delia, and I are on a Dreaming Room Tour. Luz Delia is just recovering from a herniated disk and needs to be met with a wheel chair at the airport. Of course, and despite the advanced notification and agreement with the airlines that a wheelchair be made available to us, the wheelchairs have failed to show up at any of our destinations. You can imagine how frustrating that is to someone who can't move without a wheelchair, as well as to her husband who is accompanying her! What's missing in this picture? I continued to ask myself as the problem appeared over and over again. Well, to make a long story short, what's missing is a dispatch system to provide the requisite number of wheel chair porters, the number of wheel chairs needed, with a real time projection of exactly what was needed, where it was needed and when. Plus a management system that is accountable for the on time delivery of wheel chairs where and when they are needed. How many wheelchairs do you suppose are needed at an International Airport? I have no idea. But the problem tells me that there is an opportunity waiting to be fulfilled, and, if so, a truly entrepreneurial business waiting to happen.

6) And, finally, once you have lined up your sights on Opportunity Worth Pursuing # 1, the next thing you need to do is to write your Concept Paper or White Paper detailing the opportunity as you see it, a thorough description of the opportunity, the business form it will take, and the investment needed to build your prototype. Once your White Paper is completed, dated and numbered, place it in a Binder called Business Opportunities Worth Pursuing and set it aside for a while. And begin the process all over again. As a budding entrepreneur you should find yourself with a binder bursting with wonderfull opportunities for new ventures waiting for you to pursue them.

More about this fascinating process another day.

Until then, come see me In The Dreaming Room. You can find dates and times elsewhere on this website.

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Article Tags: advocates, department store, e myth, entrepreneurial business, entrepreneurial businesses, interesting things, mcdonald, mouth watering, own business, pies, red pen, rue the day, rules of engagement, scratch, scrutiny, shoe store, starbucks, travel agency, true entrepreneur, walmart



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Re: Does a New Company need a "Big" PR firm? - I agree with SHri, it really depends on the target audience and how much service you really need. if you are doing National campaign than you want a firm that has the National contacts. Lots of smaller companies dont have as many resources or connections. Many firms are going to a pay for performance model which I think will do the PR and advertising industry good. no more $5000 retainers for sending out a couple of press releases - no matter how well written or targeted! if they dont get picked up, they dont get paid. J
Re: How to Promote a MLM Business? - In MLM a lot of it is hype. I know you like your product but you have to get people in like a circus does. Draw people in with attraction. Depending on your budget you should setup a tent in the parking lot of a mall/grocery store(with their permission or rent the space) and cook-out hotdogs and hamburgers, have a clown doing magic for the kids, make a nice presentation on projection screen. Show your prospects that you are larger than life. Sales is 90% attitude and 10% aptitude. With MLM it is usually simple to understand so make it so simple they cant resist. They should feel dumb if they dont sign-up on the spot. When you have a crowd it is like a feeding frenzy. They will sign-up just because other people are...especially if you have a relatively cheap MLM. You are not going to make any sales if your product in MLM is over $200. I know this part is self promotion but get a wireless credit card machine so you can take payment right on the spot. Dont give them any reason to leave without buying/signing up.
Re: help wanted in u.k. - Hi Brendan, Please dont apologize for feeling like you dont know or understand enough business. At least you know you have some things to learn and are willing to do that. One of the best things you can do write now is start studying business plans and learning about market research. You can find some amazing resources online and at the library. Before you spend the money on a patent you can be gathering crucial data and testing the viability of the product. One of my favourite resources is a book called "The Art of the Start". Guy K. (I dont know how to spell his last name). You can also visit a local enterprise centre/business centre. I'm sure you have one close by. They can help you on a personal level to know what steps to take to start. good luck. We are here - we just need to know how to best help. Thanks for writing back!
Re: Who did your logo design? - There are indeed a ton of those logo sights where you can get cheap work done. I have an inhouse design studio called Ripple, where we offer start up packages for business for $500. I think a lot of new entrepreneurs dont realize the impact that their logo does have on their branding and positioning. We take people through a complete creative process which I know they value. By using the $25 sites etc. you really have no claim on them if they do infringe on someone else idea.. But hey...to each his own.. I like to think that you get what you pay for - and while I dont think you need to spend thousands...you should research and really understand what you are getting into. Your logo needs to be something you can use for 5-10 years at least.....so it has to include your big vision..
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