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The Courage To Act
The premise of the book is that most businesses are not actually started by entrepreneurs who set out to build a business; instead, businesses are started by technicians who enjoy doing the work of the business, and decided to create a business around what they do. Yet as a result, most small businesses fail, because the technicians have skills at working in the business but no skillset to work on the business.
Gerber illustrates this concept with a piemaker who’s great at making pies but doesn’t really have any ability to run or manage a piemaking business, though the analogy is arguably quite apt to most financial advisory firms as well, which are often run by technicians who may be great financial planners but spend most/all of their time working in their businesses and not working on the business itself.
The book then proceeds to provide a wealth of ideas and concepts for how technicians can try to work around these challenges and change their thinking to really figure out how to grow and build their business. If you’re trying to build your own advisory practice and you’ve never read this book, do yourself a favor this summer and read it!