What Type of Business Owner Are You?
“Most entrepreneurs are merely technicians with an entrepreneurial seizure. Most entrepreneurs fail because you are working IN your business rather than ON your business.” ~Michael Gerber
If you haven’t read Michael Gerber’s The E-Myth Revisited, I highly recommend it. I love how he talk about the different of business owner “personalities”: technician, entrepreneur, and manager. In the same way that we discussed the MONEY PIE as it relates to our financial systems, no one person is all technician or all entrepreneur or all manager. Rather, we are a “pie” made up of different variables, some of which have a tendency to trip us up, and some that are our biggest assets. But it’s that really knowing ourselves that helps us to better evaluate where we are in our business and how to take those next steps in pursuing our vision.
Take a look at these three Types of Business owners.
1. The Technician: This is the doer in all of us. If you are a business owner, some part of you is technician. The hairdresser, the photographer, the accountant, the baker, the yoga teacher, the business coach—the part of you that is leveraging these high-payoff actions is the technician.
2. The Entrepreneur: I think we can say with relative certainty that without some percentage of entrepreneur in your system, you probably wouldn’t be reading this blog right now! This is the visionary, the dreamer, the catalyst for change in each of us. This is the reason we are able to transform our moneymaking skills into a business.
3. The Manager: Without the manager in us, there is no planning, no order, no predictability. This is the part of us that is able to take the dreams and the know-how that led us to set out on this venture, and analyze, edit and systematize it in such a way that it actually works. This is also the part of us that knows it’s time to call in the troops and delegate, delegate, delegate at the point in our business when it’s no longer feasible as a single-person operation.
Your profile changes with time and growth. The typical small business owner is made up of about 70% technician, 20% manager, and 10% entrepreneur. At the beginning of your business journey, you may be a greater percentage entrepreneur. As your dreams start to get underway, your technician may need to kick in, as you are a one-man show. And then, as you become more established, and are growing past what you alone can handle, it’s time for your managerial side to come out and play.
You will run into problems when you find yourself hiding in one of the roles – most likely, the women I work with tend to be technicians – they are doing everything and reluctant to give up control over different aspects of their business. The thing is, when hiding as a technician – you will only be able to grow to a certain level before you spontaneously combust – you will run out of time to be able to take on more customers and clients since you are so busy doing everything else. It’s simply not sustainable.
Which percentage of each would you say you are?
Where do you see one type overwhelming the others?
What side of you needs to step up at this stage in your business in order to keep growing?
If you are feeling stuck, and don’t know how to shift business roles – give me a call. Let’s explore what is happening and develop an action plan to help move you forwards.