Link to video: https://youtu.be/ctHTVZRnE7gI release new videos often, if you’re interested in subscribing here’s a link: https://www.youtube.com/channel/UCfbLDMh6uGOZePAfqqjVZ-g?sub_confirmation=1If you'd prefer to read the script instead of watching the video, here it is:The E-Myth Revisited By Michael E GerberThe Book’s Main IdeaThe E-Myth: “If you understand the technical work of a business, you understand a business that does that technical work. This is not true.”A look at the main ideas shared in the bookThe book uses various principles to define with clarity the differences between an entrepreneurial mindset and a business owner mindset. An entrepreneur sets up a system dependent business while a business owner sets up a people dependent business—a business dependent on him or her.“If your business depends on you, you don’t own a business—you have a job. And it’s the worst job in the world because you’re working for a lunatic!” Michael E. Gerber1: The Turnkey revolution“Contrary to popular belief, my experience has shown me that the people who are exceptionally good in business aren't so because of what they know but because of their insatiable need to know more.” Michael E. Gerber80% of all small businesses fail because they are the brainchildren of technically skilled people who believe because they have the technical skills, they “understand a business that does that technical work,” the very definition of the E-Myth.What can you do to ensure you are setting up your business in a way that ensures its success? That is where turnkey revolution comes in.The term means setting up your business processes and systems to ensure they are system-centric instead of people-centric. When your business systems and processes are effective, orderly, and consistent, your business works well and is likely to achieve success because the business is system-dependent instead of people dependent.“The Entrepreneurial Model has less to do with what’s done in a business and more to do with how it’s done. The commodity isn’t what’s important—the way it’s delivered is.” Michael E. GerberHow do you set up your business in a way that ensures its operations are optimal? Gerber offers the following suggestions: document all processes—product creation, testing, marketing, sales, fulfillment, bookkeeping, etc. When you do this, you give your business that “franchise edge,” where because the business is systems centric—instead of people centric—you can effectively eliminate yourself from the business—essentially turn the business over to other people and still achieve massive success.“With no clear picture of how you wish your life to be, how on earth are you going to live it? What is your Primary Aim? Where is the script to make your dreams come true? What is the first step to take and how do you measure your progress? How far have you gone and how close are you to getting to your goals?” Michael E. GerberThe best way to create such a system is to determine your aim, the life you want to live as a business owner/entrepreneur, and then from that, create a beginning-to-end system that illustrates every stage of the business, how to solve arising problems, and how to create value for all involved. Define the systems you put in place so explicitly that someone with the lowest skill level can operate any area of the business.2: How to create a small business that succeeds“Everybody who goes into business is actually three-people-in-one: The Entrepreneur, The Manager, and The Technician.” Michael E. GerberTo create a successful small business or business solution, you have to play three key roles: you have to be the entrepreneur, the manager, and the technician.Entrepreneur: The role of the entrepreneur is to be visionary: to think ahead, and plan:“…The Entrepreneur lives in the future, never in the past, rarely in the present. He’s happiest when left free to construct images of ‘what-if’ and ‘if-when…” “…The Entrepreneur is the innovator, the grand strategist, the creator of new methods for penetrating or creating new markets….” Michael E. GerberManager: The manager is responsible for ensuring the business or workplace has a productive order. His role is to ensure the turnkey systems in place are consistently productive:“…The Manager is pragmatic. Without him, there would be no planning, no order, no predictability….” “…It is the tension between The Entrepreneur’s vision and The Manager’s pragmatism that creates the synthesis from which all great works are born…” Michael E. GerberTechnician: The technician is the person responsible for doing the technical work:“To The Technician, all ideas need to be reduced to methodology if they are to be of any value.” Michael E. GerberUnfortunately, and according to the E-myth, many entrepreneurs are small business owners who started a business because they had skilled, technical knowledge.“The typical small business owner is only 10 percent Entrepreneur, 20 percent Manager, and 70 percent Technician.” Michael E. GerberConclusionTechnical knowledge alone is not enough because it enslaves you to your business. To be a good business owner, even as you work on the technical bits of the business in the beginning—creating systems—you must also be equal parts manager and entrepreneur.“Once you recognize that the purpose of your life is not to serve your business, but that the primary purpose of your business is to serve your life, you can then go to work on your business, rather than in it, with a full understanding of why it is absolutely necessary for you to do so.” Michael E. GerberI hope that was useful, have a great day!I release new videos often, if you’re interested in subscribing here’s a link: https://www.youtube.com/channel/UCfbLDMh6uGOZePAfqqjVZ-g?sub_confirmation=1I've made over 60 summaries of the best self improvement books, the links are below.Full playlist of them all here: https://www.youtube.com/watch?v=dOImyOGN9UE&list=PLaNTB6oQAa0AYuul0tqUscg1ZLj_arZgaHere are the links:Make Your Bed: https://www.youtube.com/watch?v=z7mBNcI2H1c The power of the subconscious mind: https://www.youtube.com/watch?v=UNi9zDGaZtw Getting things done: https://www.youtube.com/watch?v=oCNN2pyO5Yc The power of intention: https://www.youtube.com/watch?v=7ezM3fIKHTY Deep work: https://www.youtube.com/watch?v=2SOQpjHKESA The magic of thinking big: https://www.youtube.com/watch?v=wdQRQ82AED8 The alchemist: https://www.youtube.com/watch?v=NcQjBghtxMU Blink: https://www.youtube.com/watch?v=rie9Pkp4Ktk Atomic Habits: https://www.youtube.com/watch?v=B6u0X0CDEqU The E-Myth Revisited: https://www.youtube.com/watch?v=ctHTVZRnE7g Mindset: https://www.youtube.com/watch?v=0QU5Q3lyTqo The art of war: https://www.youtube.com/watch?v=8_5qhA2y-E4 Rework: https://www.youtube.com/watch?v=zsaZU-HW18k The lean startup: https://www.youtube.com/watch?v=j6QPZp--lJE The hard thing about hard things: https://www.youtube.com/watch?v=yl_Q3E5d33U Crush it!: https://www.youtube.com/watch?v=onbmkc-29KI Delivering Happiness: https://www.youtube.com/watch?v=GiUWCZkHbA8 The personal MBA: https://www.youtube.com/watch?v=eFpXccN3YEU The $100 startup: https://www.youtube.com/watch?v=Cqa1LqahOLE Zero to One: https://www.youtube.com/watch?v=RGtQjkSUahc Grit: https://www.youtube.com/watch?v=doUSy1Eo76s Start with why: https://www.youtube.com/watch?v=LgMnlf4jcYY The compound: https://www.youtube.com/watch?v=0nSIiAMnDY0 The Prince: https://www.youtube.com/watch?v=lzVmhWFdwBQ The willpower instinct: https://www.youtube.com/watch?v=Jz5EXLYxWDQ The slight edge: https://www.youtube.com/watch?v=sItMk2xS_ZU Meditations: https://www.youtube.com/watch?v=ul2nuHOnCPI Who moved my cheese?: https://www.youtube.com/watch?v=PQhJkIPHiyw The One Thing: https://www.youtube.com/watch?v=cS5lgHhbUoM The richest man in babylon: https://www.youtube.com/watch?v=xbnHlWFnWLs The power of habit: https://www.youtube.com/watch?v=d366w-o8nhA Secrets of the millionaire mind: https://www.youtube.com/watch?v=R1WjeoCw30g The 6 pillars of self esteem: https://www.youtube.com/watch?v=Y5NRiB_-w10 The 7 Habits of Highly Effective people: https://www.youtube.com/watch?v=_nGzZ9m_Xsg Thinking Fast and Slow: https://www.youtube.com/watch?v=fqw9dwxiKSw The 4 hour work week: https://www.youtube.com/watch?v=tCWzSlAqO0g The power of positive thinking: https://www.youtube.com/watch?v=IAdxM_19KBc The power of now: https://www.youtube.com/watch?v=wa7mAlLhD3w Think and grow rich: https://www.youtube.com/watch?v=btQNKjSy8Ww 12 rules of life: https://www.youtube.com/watch?v=9InBOOy1eTU The 5 love languages: https://www.youtube.com/watch?v=nPq4Vxh74jY Rich Dad Poor Dad: https://www.youtube.com/watch?v=GV31Wpr2Fl8 How to win friends and influence people: https://www.youtube.com/watch?v=s61o8y22BpM The inside out revolution: https://www.youtube.com/watch?v=68OwvuqZEGo Models: https://www.youtube.com/watch?v=Hs0d7Da8ufo Man’s search for meaning: https://www.youtube.com/watch?v=eyXFQ5W0bMk The subtle art of not giving a fuck: https://www.youtube.com/watch?v=dOImyOGN9UE How to stop worrying and start living: https://www.youtube.com/watch?v=qUQXrEk52Ug The millionaire fastlane: https://www.youtube.com/watch?v=vrtjXONWVfA 5 extremely powerful techniques to master motivation: https://www.youtube.com/watch?v=vmRzDIisUeM Quiet by Susan Cain: https://www.youtube.com/watch?v=SzRcYLq63dU Extreme Ownership: https://www.youtube.com/watch?v=eMWeEyqWHe0 see hubwealthy.com/wealthy
0 comments:
Post a Comment