Archives for posts with tag: Entrepreneur

E-Myth

I don’t know why I always have some skepticism for the bestseller lists, perhaps it’s my natural penchant for going against the grain, so books that have “More than one million copies sold” on their covers don’t really catch my interest that much.  However, being in convalescence, The E-Myth Revisited (Why Most Small Businesses Don’t Work and What to Do About It) by Michael E. Gerber was lent to me and when I had to stay away from fiddling with my smartphone and chatting with friends, I finished reading this book and I would have to say that it makes a lot of sense.

Perhaps if I hadn’t gone through the failure and subsequent of our small business this year I would not have appreciated the book as much since it seemed to be common sense and sound theory at best but having gone through the actual experience of starting a business and it not working out, I would have to say that the author Michael E Gerber shared nuggets of wisdom which I wish we would have known before even starting the business.  However, we cannot turn back time even if we wish to cry over spilt milk.

It is in this light that I wish to share that anyone who wishes to start a business with their talents and hard-earned money would benefit from reading this book as a primer even before starting out.  The instinctive mistakes many neophyte business owners commit are discussed in the book.  Most of the time when we start a business, we tend to be over-optimistic and let our dreams of success carry us away, and Gerber shares how we can fine tune our perspective and approach towards the business.

A must-read!

(c) Niconica 2015

We might not all have the luxury of time or resources to pursue an MBA, yet there are many occasions where we learn by doing.  This is the case with learning the ropes of business and reading books which are relevant to business is invaluable.  It may be that we cannot stop working in order to pursue an MBA and are unable to devote limited resources to fund our education.

With this being the case, we must read voraciously and apply what we read in our business practices and see whether it bears fruit.  There are cases where one has not pursued a degree in business and therefore feels that one is lacking in this area and there are many books which help us learn more about business related areas such as finance, economics, marketing, sales, and branding.

It is very helpful to scour through used bookstores in order to find various titles which are may already be out of print or titles which come at bargain prices.  It is also beneficial to acquire books which are updated from updated bookstores.  Having grown up during a time when the Internet has not yet been created or widespread, it is almost too easy to forget that the internet also provides invaluable resources to learn more about any topics we wish to learn.

If we feel ill-equipped to conduct business without an MBA, we must remember that many of our forefathers have not had the benefit of completing their education and yet managed to survive and even thrive.  We have all the resources that we have at our fingertips if we are determined to move forward and be able to fill up the areas which we feel that we need to learn more from or where we feel that we are vulnerable.

With all this being said, experience proves to be the best teacher, second or equal to having a great mentor in the field.  Not everyone has the good fortune of having a mentor, and if this is the case, we must rely on balancing experience with spirituality and reading or self-research.  We must remember that business ethics are not separate from daily human ethics as it may be relayed to us.  We must always remember that thriving and competing need not be a ruthless game where someone gets hurt.

I would like to believe that in business, the commendable Buddhist principle of non-violence applies.  We must not profit at the expense of others, yet we must not allow people to take advantage of us as well because this gives them the wrong idea and encourages their bad habits.  It can be tricky to apply what we learn in theory in real life, but we must constantly reflect upon how to bring to life book learning and spirituality with our daily business practices. Having a healthy concoction of business, spirituality, and knowledge which is effective in securing business success without harming others can be considered a de facto MBA.

(c) Niconica 2013