Small Business Technology Series. Sponsored by Frontier Business
"The entrepreneur builds an enterprise; the technician builds a job.” – Michael E. Gerber
The Entrepreneurial Myth #1:
The myth that most people who start small businesses are entrepreneurs.
The Entrepreneurial Myth #2:
The fatal assumption that an individual who understands the technical side of a business can successfully run a business that does not technically work.
The secret to go ‘Beyond’ The E-Myth is to scale up… that said, what are the best ways to scale your business?
Excerpt from – Beyond The E-Myth –
This is the simplest book I’ve ever written.
It’s a book written for everyone who has started his own business, or for everyone who hopes to.
It’s a simple book because it starts out with a simple premise. That unless you start your business with the intention of selling it, it will almost always turn out to be a disaster.
So this book is about going to work ON your business (I’m going to call it ‘a company’ from now on) – to design your company, to build your company, to launch your company, and then to grow your company for the extreme purpose of preparing your company for sale.
That means that a company, no matter what it does, and how it does that, is nothing other than a product. A product you’re preparing to sell.
After all is said and done, that’s what an entrepreneur is: an inventor of a grand and growing company — a product — which ultimately will be sold to a buyer who falls madly in love with it.
Every company on the face of the planet is nothing other than a product for sale.
But, the buyer of your company, whomever that may be, doesn’t fall in love with what the company does; he’s much more pragmatic than that. The buyer falls in love with how well your company does it.
And the measure for how well a company does what it does is only two things: First, its success in its ability to attract and keep customers better than any other company; and Second, the return on equity a company produces time after time after time.
In sum, such a company – a company which buyers absolutely love — possesses the uncanny, and seemingly unnatural, ability to scale.