The E-Myth by Michael E. Gerber remains one of the best and most popular business books for businessowners. Recently at our Living North Phoenix business lunch networking meeting, Chad Librizzi, owner of Rapid Rooter Plumbing and Lincoln Air and Plumbing spoke about The E-Myth and how it has helped him create and build multiple very successful businesses.
Chad spoke about how the book challenges the notion that all small business owners are natural entrepeneurs. Thus, most small business owners are technicians who lack the business skills needed for success. It is hard to disagree with this. Many people have an entrepreneurial spirit and maybe even a desire to succeed and have a great business but do they really know what they are doing? Do they really know the basic skills to help them run a successful business?
Michael Conway of Conway Coaching & Consulting spoke about this at a recent meeting as well. The idea of having a glorified job or a business.
Work On the Business, Not In It.
Next up, Chad spoke about the idea of working on the business and focus on building systems and processes rather than getting caught up in the day-to-day operations. This allows the business to become scalable and a successful enterprise.
3 Essential Roles
What are the 3 essential roles every business owner needs to play? The Entrepeneur, The Manager, and The Technician. Gerber points out how you must balance these roles and how they are crucial for business growth and success.
The Turn-Key Revolution
As mentioned in Conway’s discussion and blog (link above) you have a job if the business can’t run without you. So, Librizzi pointed out how you must develop standard operating procedures and replicable systems for success. Furthermore, these systems will then produce predictable results, like a franchise. Love ’em or hate ’em it is hard to argue with the success of McDonalds as a franchise.
The Importance Of Franchising Your Business
Even if you don’t plan to franchise, thinking like a franchisor can help create a more robust business. This got me personally for the longest time. I don’t plan to franchise my businesses so I thought why bother? You must have the systems that can be replicated for consistent results.
A Few More Points
- The business development process. Develop a clear vision for your business and define its purpose.
- Understanding your customers. Define your target market and understand their needs and desires.
- Build your business prototype. Develop a clear model of how your business should operate.
- Working on vs in your business…I think we have covered this one enough 🙂
- The power of leadership and management. Be a visionary leader while managing a business.
- Create a customer-centric culture. Build a culture that revolves around customer satisfaction.
- Overcoming common obstacles. Learn from failure and use it as an opportunity to improve.
Looking for more details about how Chad utilizes the concepts of The E-Myth in his business? Looking for plumbing, heating or cooling help in Arizona (Phoenix) reach out to Rapid Rooter at 602-780-3676.
Interested in Living North Phoenix business lunch networking meetings where valuable business like these are shared? Reach out to Blair Ballin at 480-233-6433.