Buying a Business Unit- Refection Journal- Week 7 of Small Business Creation
E-Myth Part 1 – The first thing I learned is that every one of us has a Technician, Manager and Entrepreneur in us. And all of them are fighting to see who gets to be in control. Second - to be a good business owner we should be all three equally and that will take time. Third - a business should grow naturally, or it is doomed to fail. I will have to take these principles and get out of my comfort zone and learn how to do things outside of my business to be able to help my business thrive. To help myself thrive, I need to be a well-rounded person. I will also need to know when it is time to hire other people and train them in their roles. Selecting a Business to Buy – My favorite thing I learned about buying a business is doing a Decision Matrix. I love that I set the criteria and then compare three or more business or ideas on the same spreadsheet. Then I can easily choose which one I think would be best for my goals. Case Study - Concrete Specialist Inc. – I learne...