I've seen it all before. Probably so have you. People full of energy, full of dreams, who decide to give up their job, start their own business, become their own boss and become rich in the process. They know they are good at what they do, they understand the marketplace they are pitching their product at - why shouldn't the succeed?
They are full of enthusiasm and the desire to create wealth. That's their dream, usually to make a million or two, enough to live comfortably, with a beach house, a boat and a fast car...
It's not unusual. Many thousands of people set up their own businesses every year. They start a company, offer a product or service and wait for success to roll their way. All too often, it doesn't. The dream evaporates in front of their eyes. What goes wrong?
The new entrepreneur sees others succeed, so believes that he or she can too. It can't be difficult, can it? Michael Gerber examined the reasons why businesses fail in his insightful book the E-Myth, and concluded that many were due to a condition he called 'entrepreneurial seizure'.
People who succumb to entrepreneurial seizure are often those who are very good at their job. They are excellent plumbers, architects, pastry cooks, computer sales people...They are trained to do their jobs and acquire skills through years of experience. But being the world's best plumber doesn't mean you have the skills to run a business. In business you need to cope with employing others, to find a niche in the market place, to deal with the resultant paperwork, and to keep your vision alive and the business growing.
Running a business is a skill, one that must be learned, and all the budding entrepreneur's previous skills and experience may be worthless when it comes to this new challenge. It's usually far too late to start learning how to run a business when you've already made fundamental mistakes. But if you don't learn how to do it properly - and quickly - the business will fail!
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