• Are You the Same as Your Business?

    In Pennsylvania, if you start a business it starts out as a sole proprietorship. Legally, your business has the same name as you, and until you get an EIN, it can be identified by your social security number. In a very real sense, your fledgling business is you. But the question is, should it be?

    I recently read two books that have got me thinking about that question. First is “The E-Myth” by Michael E. Gerber, which breaks people down into 3 contradictory personalities: the entrepreneur, the technician and the manager. Whenever you start a business, there is a little bit of each in you. Often times, however, you are mostly a technician. You quit your job because you were good at doing the work. But as I learned the hard way, there is more to running a business than just being technically proficient.

    Another thing that it talks about is how businesses should be designed like the prototype for a franchise model. There should be standard operating procedures, code and processes for everything. Literally everything. As a solopreneur, this seems so strange at first.

    We get even stranger when we get into “Built to Sell” by John Warrillow. This book is all about making a business that can be sold and live without you. What are the things that make a business appealing to buyers? I say this is strange because, as a consultant, if I left the business there wouldn’t be anything left. It literally has the same name as me, right?

    But I’ve been thinking about it more, and not everything has to or should be me. When I make video courses, I pay an editor to do all of the video editing. As a consultant, in theory, I can make anywhere from $100-$200 per hour for what I do. Most of the things I do, such as accounting, or social media management, are nearly as valuable. So logically, even if I can’t separate myself from my business, or ever sell it, I should be thinking about the piece I can carve off. I may be at the core of my business, but I don’t have to be all of it.

  • Power Query Is No Longer DAX’s Little Brother

    I’ve talked before about the difference between the Power Query Formula language, or M, and the DAX language.

    I would describe Power Query as the intern you pay minimum wage or the sous chef, and DAX as the $35 per hour analyst or the head chef. This wasn’t to be mean but instead was just because Power Query was all about automating repetitive data manipulations. It handled the less exciting, less complicated work.

    Last week, however, I presented on Power Query, and I had to update the slide about where it’s available. I used to say that wherever DAX is, Power Query was not very far behind. Doing all of the grunt work so that DAX could shine. But this time I had to update my slides because Power Query is starting to take center stage.

    Now instead of just being available in Excel, Power BI and SSAS, Power Query is available in Microsoft Flow, SSIS and ADF! At the time this post was published, these are all in preview. But it’s really exciting to see Power Query no longer trailing behind DAX, ready to take center stage.