The E-myth was written in 1988 about the myths that entrepreneurs hold about success in business. And the cost of those myths on their lives, their, business and their well-being.
The book pointed out that many small business owners start their business believing these assumptions or myths. The feel that all that is needed for success is:
· Some capital
· Projected a targeted profit
This sounds great and then reality sets in. Running a business as a marathon. Not everyone pops out a Unicorn like Facebook or Uber. In fact while business start out fast and the owners have passion and are willing to do it ALL, there is only so long you can maintain that pace.
There are a lot of different factors to a successful business and you can’t ignore them if you want success.
Let’s talk about 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:
· Sense of self-loss
These feelings are the result of the assumptions, beliefs (e-myths) that we spoke to earlier. You can get your hopes so high on success that even the smallest lag can send you into an emotional tailspin. This is also brought on by the 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.