We are 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 moment to discuss what an e-myth is. An entrepreneurial myth, or e-myth, is the assumption that anyone can succeed in business with:
  • Desire
  • Some capital
  • Projected 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 to slow down, and some drop out entirely. Building a successful business requires stamina and agility.

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.

Let’s take a moment to discuss entrepreneurial seizure. This term defines the roller coaster of emotions that accompanies 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 talked about. Your hopes can be raised so high for instant success that even the smallest setback can send you into an emotional tailspin. This feeling is also brought on by the stark realization that you can’t do everything and will need help in areas where you lack knowledge. Faced with limited choices, you may feel the urge to back out and hide, but don’t do this.

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