The book that has had the most influence on the way I run my business is Mastering the Rockefeller Habits by Verne Harnish. In the sea of average business management tomes where people have distilled three or four simple maxims into a 400 page book, Verne’s book stands out by miles. It’s easy to read, and has many instantly actionable and useful structures for increasing the tempo of your business.
He provides tips to improve communications and reduce time-wasting meetings. He also provides a template for one of the most useful business strategy summary documents. Verne works with Gazelles – businesses that grow over 20 per cent every year – and plenty of Australia’s high growth companies try to follow these methods.
It is hard to do it all, but even following the principles of one or two chapters will help.
Okay, I realise The E-myth is a popular (sigh!) book that has been around for some time (25 years), but the fact that it is still relevant and being followed is testament to the principles that Michael Gerber has preached.
Some may argue it’s outdated, but it seems that businesses are still being started by ‘technicians’ who have not acquired basic skills or knowledge to run their business. There is no evidence that the percentage of new business successes have increased in the last few decades.
Saying this, it was certainly The E-Myth principle that remains a driving force for Legal123.com.au.
The principle that is prevalent in this book is to constantly remind myself to work ‘ON’ not ‘IN’ my business. Too often and too easily, as a lawyer and as a business owner, I can get caught up in wanting to help everyone and solving individual client issues. This can be time consuming. Instead, I need to try first to help the greater masses: this is why I created an off-the-shelf solution which actually applies to and assists 80 per cent of individuals and businesses. The other 20 per cent of people sometimes require individual customised assistance. Other times these 20 per cent only require assurance that the 80% off-the-shelf template actually addresses their business requirements.
As business owners, it’s incredibly easy to get caught up in the smaller details and not spend time on the larger picture. The principles in The E-Myth remind me, among other things, to ensure I set up systems and processes to ensure I don’t end up spending all my time working ‘in’ my business.
This is the one ‘must read’ book for all startups and entrepreneurs.
The book that has had the most influence on the way I run my business is The 4-Hour Work Week by Timothy Ferriss.
There have been so many time saving tips and tricks within this book that have allowed me to run my business and my life in a more productive way. I would highly recommend it to anyone who struggles to fit everything into their day whether they be employed, or self-employed.
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