This week I
really enjoyed Reading about the different stages of a small business and the
common mistakes that business owners make in the book ‘’The E-Myth Revisited’’
by Michael E. Gerber. In chapter 4 he talks about the ‘’Adolescence’’ stage of
a business in which a business owner asks for help and hires someone to help;
eventually, lack of clear communication and ambiguous situations take their
toll and the relationship between the owner and the employee ends abruptly.
This happened to me recently when I had to
fire my employee as he was breaking my rules, not being profitable, and taking
advantage of my trust. I realize now that I made a mistake in not being clear
with my rules and expectations, and giving in whenever he needed something ‘’for
his family’’ to the point of not benefiting at all from the business myself.
That situation couldn’t last forever.
I continued
working on my $100 project. I started thinking about more specific details for
it. The most important part of it is that I remembered the first time I tried
to complete the challenge, how it ate up too much time and how I can use the time
more effectively this time.
I realized that my mistake was that I focused too
much on obtaining low prices by buying from wholesalers in downtown Mexico
City; that meant that I had to spend around 4 hours every weekend trying to get
all the materials, end I got very frustrated when some of them became harder to
find than I thought at first. This time I will focus more on working and
selling than in buying.
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