Guess what? Yup, I’m reading another business book. This time I’ve started reading The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It by Michael E. Gerber. You may have heard of his books before or his company E-Myth Worldwide. What I find most interesting about this book so far is that it makes you ask yourself the question, “Are you working on your business it, or in it?” Anyone who is self-employed can tell you they are probably working in their business.
This is especially true for freelance workers, contractors, or anyone with their own brick and mortar business who does all of the work. When I took off on my own, I thought how much happier I would be by working for myself. Grant it, I am very happy. I don’t experience any of the stress or the long commute I once did, however, I do still experience the burnout of doing the same work I did in my previous job. I basically have traded one job for another, except now I have much more freedom in terms of time and choosing who to work with.
Now I am working on freedom from doing all of the work. I rather work on my business instead of in it. When you become self-employed, you also take on multiple roles. You become the project manager, the technician, marketer, and any other task that is needed to keep your business going. Many self-employed individuals actually find themselves working more hours than they had at a previous job.
Like myself, what used to be your passion becomes your downfall. I used to really enjoy web developing but now I view it as a chore. I used to enjoy reading programming books and learning new techniques. I’d make web applications for fun and learning. The thought of cracking open a web related book bores me. New web projects frustrate me. The passion is gone.
I know I lost the desire for my work because I do it all. Outsourcing is not an option for me due to quick turn-around times. My passion now lies in affiliate marketing and network marketing. Both are exciting and both create residual streams of income. Best of all, there are no clients to answer to (another reason I’ve lost my passion.)
My goal is to actually move away from the labor and create revenue streams that allow me to be free to do the things I want. If you are finding yourself in the same boat, I suggest reading the following books:
- The 4-Hour Workweek, Expanded and Updated: Expanded and Updated, With Over 100 New Pages of Cutting-Edge Content.
- Cashflow Quadrant: Rich Dad’s Guide to Financial Freedom
- The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It
All three books will make you think hard about your business model and what you truly want out of life.