E-Book Overview
SUMMARY of "THE E-MYTH REVISITED: WHY MOST SMALL BUSINESSES DON'T WORK AND WHAT TO DO ABOUT IT", by Gerber
First edition (of the Summary): June 13, 2018.
Copyright © 2018 Readtrepreneur Publishing.
ISBN: 978-1386925484
Written by Readtrepreneur Publishing.
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Most small businesses in America fail because they are started by people who are struck by an Entrepreneurial Seizure. The majority of these persons are Technicians who assume that understanding the technical aspect of a business is the same as understanding how to run a business.
The key to succeeding is to start a Mature business – one that knows how it got to where it is and what it needs to do in order to get to where it wants to go. For a person to launch a Mature business, they must have an Entrepreneurial Perspective. They must have the ability to see their business as a system of integrated parts that creates a systemic way of doing business.
The Turn-Key Revolution has the power to transform any small business from a state of chaos to order and continuous growth. Fundamental to this is the Business Format Franchise, which is built on the idea that the true value of a business lies not on the product it sells but on how these products are sold. In fact, it has a success rate of 90%.
The secret behind the success of the Business Format Franchise is the Franchise Prototype – a system that provides the Entrepreneur a medium to realize his vision, the Manager the order he so desires, and the Technician a place where he can do technical work. It satisfies the three personalities within an individual while building a business that works.
In building your own Prototype, you must adhere to the six rules of the franchise game:
Your model must provide your customers, employees, bankers, and lenders value that is both consistent and beyond what they expect.
Your model must be operated by people with the lowest possible level of skills required to accomplish the functions for which each model is aimed at.
Your model must be a place of total order.
You must document all work in the model in an Operations Manual.
Your model must provide your customer a uniform and predictable service.
Your model must use a uniform color, dress, and facilities code.
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An instant classic, this revised and updated edition of the phenomenal bestseller dispels the myths about starting your own business. Small business consultant and author Michael E. Gerber, with sharp insight gained from years of experience, points out how common assumptions, expectations, and even technical expertise can get in the way of running a successful business.
Gerber walks you through the steps in the life of a business—from entrepreneurial infancy through adolescent growing pains to the mature entrepreneurial perspective: the guiding light of all businesses that succeed—and shows how to apply the lessons of franchising to any business, whether or not it is a franchise. Most importantly, Gerber draws the vital, often overlooked distinction between working on your business and working in your business.
The E-Myth Revisited will help you grow your business in a productive, assured way.
On the here-summarized edition:
In this first new and totally revised edition of the 15