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By Marty Pay
MBA, CLU, LUTC-F, contributing writer 

Do what you do best, then hire the rest!

Marty's Musings

 

February 3, 2024

Marty Pay, MBA, CLU, LUTC-F.

In his classic work "The E-myth" Michael Gerber tells the story of a little old grandma who makes incredible pies. She is constantly told by friends and family to open a pie shop and sell her wares. So, she finally decides it's time and opens up a shop, but now she's taking care of hiring, firing, inventory, marketing and a host of other small business owner chores! Guess what she isn't doing? The thing she loves best and is best at, making pies!

It's a great example of what happens to small businesses and why so many of them don't work out. You have a passion for something and unfortunately, it's the last thing you get to do. The answer isn't easy because one thing most small businesses have early on is limited funding, so you end up doing everything yourself. You must take a giant leap of faith and put someone else's name on the organizational chart besides yourself for things you're not good at or don't want to do.

I loved to market and handle complex insurance and financial problems for clients, I knew it was my gift. I never could adjust to the time-consuming paperwork, so I surrounded myself with staff that had that gift. Some of my staff couldn't wait for me to leave the office so they could cleanup my "messy desk."

Successful leaders at all levels have learned this truth. Think of leaders who have appointed experts in their field to advise them as opposed to leaders who try and do it all themselves and ultimately fail. What creates a successful and happy business owner is the ability to do what you love best and prosper because it's not work, you enjoy doing it!

Marty Pay is a contributing writer for The Loop newspaper and has been a Financial Planner for years and teaches Finance at a local University. He can be reached at Farmers Insurance in Tehachapi (661) 822-3737.

 
 

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