As FlashFood was accepted in the the Arizona State University Edson Student Entrepreneurship Accelerator (which we are extremely grateful for!), we receive valuable mentoring from experienced Phoenix entrepreneurs and access to insightful conferences to help us overcome the many challenges that come with starting a business. On Wednesday, Eric and I (this is Jake writing) had the privilege of attending the Arizona chapter of Entrepreneur’s Organization’s (EO) E-myth (E is for entrepreneur) Conference.
In case you are not familiar with E-myth, it is a book written by legendary business consultant, Michael Gerber, who was the keynote for the event. During his talk, Gerber focused on the theme of E-myth, which explores why most small businesses fail and what can be done to prevent them from failing. Drawing on 30 plus years of experience in consulting, Gerber explained that most businesses fail because they lack a system that allows them to run successfully on their own. The overall message (and very simplified) is entrepreneurs should focus on creating a working system that can be duplicated rather than trying to “be” their business, or run it all on their own. Even more simplified, don’t micro-manage! To illustrate his point, he uses the example of the success of McDonald’s, the world’s most successful franchise, with over 35,000 stores worldwide.
This seminar came at a perfect time for us, as we are working hard to perfect our food recovery process in Phoenix and eventually scale nationally, hopefully someday internationally. Gerber’s advice is valuable for every type of business, whether it be for profit or nonprofit, social entrepreneurship-focused or traditional. So if you are starting a businesses, a club at your university, or a cause you are passionate about, we recommend you read E-myth. We certainly will!
Have any other good examples of successful business systems to share? Have you started your own business and were helped by E-myth? Leave a comment!