Rich Schefren's Business Building Presentation
Watched this interesting video on how to grow your business:
Initially I thought the presentation was going to be another "get rich quick" infomercial, but instead found a pretty engaging presentation on the pitfalls of trying to do too much of the work in running an online business. This of course, is applicable to on an offline business such as brick and mortar retail or other direct customer service business as well.
Much of the topics Rich covers were already covered quite well by the likes of authors such as Michael Gerber's "The E-Myth Revisited", a book I read some years ago which helped me tremendously to increase sales and profit while simultaneously cutting down my hands-on work load. The section in the video where he discusses the 3 archetypes of Technician vs Business Owner vs Entrepreneur comes straight out of Gerber's text.
My criticism of his presentation is the fact that you can only start delegating work and expanding your business AFTER you start becoming profitable and not from the first day you launch your business which is the impression Rich gives you in his talk. In all my business ventures I had to put in long, long hours and considerable work initially and only when I was able to achieve good revenue, sales and most important profits, was I able to start hiring people and delegating. You'll either need to start off with lots of cash initially or wait and build your business up first.
But the most interesting part of the talk was when Rich discussed the importance of project management skills for the business owner and entrepreneur. I'm currently studying for my Project Management Professional certification and it dawned on me in my studies, that much of the PM processes would have been helpful for many of the projects I engaged in such as store remodeling, marketing initiatives, and especially when I was building out two of the businesses I built from the ground up. That if anything is a major project!
This interesting series of blogs discusses the very same thing.
Initially I thought the presentation was going to be another "get rich quick" infomercial, but instead found a pretty engaging presentation on the pitfalls of trying to do too much of the work in running an online business. This of course, is applicable to on an offline business such as brick and mortar retail or other direct customer service business as well.
Much of the topics Rich covers were already covered quite well by the likes of authors such as Michael Gerber's "The E-Myth Revisited", a book I read some years ago which helped me tremendously to increase sales and profit while simultaneously cutting down my hands-on work load. The section in the video where he discusses the 3 archetypes of Technician vs Business Owner vs Entrepreneur comes straight out of Gerber's text.
My criticism of his presentation is the fact that you can only start delegating work and expanding your business AFTER you start becoming profitable and not from the first day you launch your business which is the impression Rich gives you in his talk. In all my business ventures I had to put in long, long hours and considerable work initially and only when I was able to achieve good revenue, sales and most important profits, was I able to start hiring people and delegating. You'll either need to start off with lots of cash initially or wait and build your business up first.
But the most interesting part of the talk was when Rich discussed the importance of project management skills for the business owner and entrepreneur. I'm currently studying for my Project Management Professional certification and it dawned on me in my studies, that much of the PM processes would have been helpful for many of the projects I engaged in such as store remodeling, marketing initiatives, and especially when I was building out two of the businesses I built from the ground up. That if anything is a major project!
This interesting series of blogs discusses the very same thing.
Labels: Entrepreneurism, Project Management
posted by Don Kim at
8/21/2007
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