We are going to embark upon a journey through the world of e-myths and debunk them
to help you avoid falling into an e-myth trap.
First, let’s take a minute to talk about what an e-myth is. An entrepreneurial myth, or e-myth, is an assumption that anyone can succeed at business with:
• Some capital
• Projecting their targeted profit
This sounds great, but it’s just not realistic. Think of starting a business as a marathon.
Sure, everyone starts out of the gate at record pace, but after a few miles people start
slowing and some drop out entirely. Building a successful business takes stamina and
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.
Let’s take a minute to talk about entrepreneurial seizure… Definition: Entrepreneurial seizure is the moment an entrepreneur decides it would be a great idea to start his or her own business. It’s when one believes that knowing how to do the work in a business is all one needs to understand in order to start and grow a business.
It 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:
• Sense of self-loss
This is usually caused by e-myths and the assumptions we talked about. You can get your
hopes so high on instant success that even the smallest lag and you are sent into an
emotional tailspin. This is also 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 or pivot, but don’t do this.
In my next post I will tell you the best course of action to take…
But if you can’t wait and need help desperately reach out to me immediately.