Today, we’re about to embark on a fascinating journey into the realm of e-myths. These misconceptions often lead aspiring entrepreneurs astray. We’ll debunk these myths, equipping you with the knowledge to avoid the e-myth trap.
First, let’s take a minute to discuss what an e-myth is. An entrepreneurial myth, or e-myth, is an assumption that anyone can succeed at business with:
- Desire;
- Some capital;
- A projected target profit.
Imagine starting a business as a long-distance race, like a marathon. Initially, everyone is full of energy, sprinting towards their goals. But as the race progresses, the initial enthusiasm wanes, and some even drop out. This is like building a successful business, which requires endurance and adaptability.
There are multiple facets to a successful business; none of them should be overlooked if you want to succeed.
Let’s reflect on the entrepreneurial seizure. Entrepreneurial seizure is the roller coaster of emotions that comes with starting, nurturing, and potentially failing a business.
The emotions that will be experienced, in order, are:
- Exhilaration;
- Exhaustion;
- Despair;
- Sense of self-loss.
Entrepreneurial seizure is usually caused by the e-myths and assumptions we outlined. You can get so caught up in the idea of instant success that even the most minor setback will send you into an emotional tailspin. This can also be brought on by the stark realization that you cannot do it all by yourself and will require assistance in areas where you lack knowledge. Now, as you are faced with limited choices, you may feel like you need to turtle, but it is essential for your business that you don’t do this.
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