The Entrepreneurial Myth

        Most of my recent posts have been devoted to politics, so let’s look at the business today.  It is my hope that real common sense political change in 2017 will promote business, the economy, and entrepreneurship.  

        “Do what you know and love and you will be a success” is one of the myths about starting a business that I address in my book, Business Fits.  It is often referred to as The Entrepreneurial Myth, and in my opinion is the fourth leading cause of new business failure. 

        People must have a passion for their daily activity.  If someone doesn’t like what they’re doing, they will be unhappy and they won’t be successful. 

        The problem occurs when the entrepreneur has a passion for a product or service, and does not consider  his/her role in the business.  Having a passion for a job seldom has anything to do with the product or service.

        I once had a client who we will call Jim.  He loved bicycling, so he went to work for a store selling bicycles.  Jim worked in that store for seventeen years and hated his job.  Eventually, he became so unhappy that he foolishly quit with no job or business, something I would never advise. 

        Jim started to look at his options for owning a business.  His current hobby was horses and riding.  One of his neighbors suggested making a business out of his love for horses, but Jim was too smart to make that mistake again.   He didn’t want to ruin another hobby by turning it into work. 

        Anyone thinking about a business should read my book, Business Fits by Terry Oliver Lee.  It is available on Amazon as an eBook or a paperback.

        I also recommend reading The E-Myth Revisited by Michael E. Gerber to learn more about the entrepreneurial myth.  Gerber gives some great examples of running a business vs. working in the business.  

        One of his examples is a woman who loves to bake pies.   She starts a business making and selling pies.  She has to give up the making pies, which she loves, to have the business survive.  She has to let someone else bake the pies so she can devote her time to running the business and developing a complete business system.   

        I am interested in helping aspiring entrepreneurs, and offer a free phone consultation to guide them.  Contact me through my website http://BusinessFits.com or e-mail me at TerryOliverLee@gmail.com.