We are going to embark upon a journey through the world of e-myths and debunk them to help you avoid falling into the e-myth trap.
First, let’s take a minute to talk about what an e-myth is.
E-Myth
An entrepreneurial myth, or e-myth, is an assumption that anyone can succeed at a business with:
- Desire
- Some capital
- Projected a targeted profit
This sounds great, but it just not realistic. Think of starting a business as a marathon. Sure, everyone starts out of the gate at the record pace, but after a few miles, people start slowing and some drop out entirely. Building a successful business takes stamina and agility.
The reality is that there are many different facets to a successful business and none of them can be ignored if you plan to find success.
Entrepreneurial Seizure
Let’s take a minute to talk about an entrepreneurial seizure. This defines the roller coaster of emotions that comes with starting, nurturing and the potential failure of a business.
The emotions that occur, in order, are:
- Exhilaration
- Exhaustion
- Despair
- Sense of self-loss
Usually, this is caused by the e-myths and assumptions we talked about. You can get your hopes so high for the instant success that even the smallest lag and you are sent into an emotional tailspin.
Likely, this is brought on by the stark realization that you can’t do it all and will need help in the areas where you don’t have the knowledge. Now, faced with limited choices you may feel like you need to back out and hide, but don’t do this.
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