4 ms·
I Finally Understand Why Most Small Businesses Don't Succeed
- F_J_H 10y agoThis is all explained very well in the book E-Myth by Michael Gerber written over 20 year ago and summarized here: http://bit.ly/29nSHeZ http://bit.ly/29nSHeZ Key take away: Just because a person knows the "technology" of the business, (mechanic, plumber, baker, etc.), does not mean they know the "business" of the technology.
- HeyLaughingBoy 10y agoNot only that, but one insight I took from a recent HN thread (https://news.ycombinator.com/item?id=12039536 https://news.ycombinator.com/item?id=12039536) about leaving freelancing to take a full-time job is that many freelancers really don't want to run a business. They want to practice their craft and find the non-technical aspects to be unpleasant. I was really surprised to see that (granted, it's my own conclusion) because while I want to run a tech business, I want the "business" part more than I want the "tech" part.
- sharemywin 10y agoI think most people fail because the focus so much on "opening" the business they forget to plan for the 6mo-2 years to get the business running. How are you going to get customers? how many are going to keep using your products or services? do you have enough cash to last until you get to break even? is your market even big enough to support you?