We’re going to embark upon a journey through the world of e-myths and debunk them to help you avoid falling into the e-myth trap.

First, let’s take a minute to talk about what an e-myth is.

An entrepreneurial myth, or e-myth, is an assumption that anyone can succeed at a business with:
·     Desire
·     Some capital
·     A targeted profit

This sounds great, but it’s just not realistic. Think of starting a business as a marathon. Sure, everyone starts out of the gate at a record pace, but after a few miles, people start slowing and some drop out entirely. Building a successful business takes stamina, agility.

Knowledge and innovation.

The reality is that there are many different facets to a successful business and none of them can be ignored if you plan to find success.

Here are the EXACT fundamentals required to build a highly successful business.
*  Develop a market-dominating position
*  Identify your target market based on your market-dominating position
*  Map out your target market’s decision-making process (hot buttons)
*  Create a compelling message targeting those hot buttons
*  Map out a strategic sales process that entails lead generation, lead qualification, and lead conversion
*  Develop a strategic marketing campaign that mirrors your sales process

Now let’s take a minute to talk about an entrepreneurial seizure. This defines the roller coaster of emotions that comes with starting, nurturing and the potential failure of a business.

The emotions that occur in order are:
·     Exhilaration
·     Exhaustion
·     Despair
·     Sense of self-loss

This is usually caused by the e-myths and assumptions we just discussed. You can get your hopes so high on an instant success that even the smallest lag and you’re sent into an emotional tailspin.

This is also brought on by the stark realization that you can’t do it all yourself and will need help in the areas where you don’t have the knowledge.

This is MUCH easier said than done. The keys are to stay grounded, set realistic goals and objectives based on your current skill and resources and begin to surround yourself with others whose strengths match your shortfalls.

Follow this advice, and join the 4% of businesses that will still be in business 5 years after startup.