School of Hard Knocks Why Some People Have an Edge

Ever wonder why most small businesses-- no matter how huge

effort they put in their endeavor--still fail? Micheal

Gerber reveals the answers in this book. Accordingly, the

future of small businesses revolve in only three

philosophies: the e-myth (entrepreneurial myth), the

turn-key revolution, and the business development process. The E-mythThe e-myth, or the entrepreneurial myth, evolved from one

very fatal assumption-- that the success of every business

is simply achieved by summing up the following: an

entrepreneur's desire to own a business plus the certain

amount of capital he puts in plus the knowing the amount

of targeted profit. Little did the entrepreneurs know that this assumption

spell DISASTER rather than SUCCESS. Entrepreneurs need

to learn to focus more on the business?he people

involved in it and the phases it normally undergoes.

Knowledge on these can save small businesses from

experiencing entrepreneurial seizure? stage wherein an

entrepreneur goes through feeling of exhilaration,

exhaustion, and despair. Small businesses basically consist of three main

characters namely: the technician (the doer and builder),

the manager (the planner), and the entrepreneur (the

dreamer, visionary). Moreover, small businesses have

different life phases. These are: infancy (the

technician's phase); adolescence (getting some help

phase); beyond the comfort zone; and, maturity and the

entrepreneurial perspective. The Turn-key RevolutionAs implied by the term itself, Turn-key Revolution

speaks of the distinct transformations on the way

businesses are managed and should be managed. One very

prominent example is the introduction of McDonalds

the idea of business format franchise to the business

world. The business format franchise has set dramatic turn

around on the future of small businesses. Here, the

franchisor entitles the franchisee to owning rights to

his entire business system. This format is anchored on

the belief that the real product of a business is its

sales technique rather than what it sells. The Business Development ProcessThe business development process is the response to the

unending dynamism of the business world. It equips the

entrepreneur with the necessary tools to preempt the

continuous changes happening around. The process is

comprised of three elemental stages: innovation,

quantification and orchestration. The business development program requires the following

aspects to be defined:

Your Primary Aim. The owner's primary aim should center

on what he really wishes, needs and wants for his life.

Defining this will push the owner to pursue his defined

entrepreneurial dreams. Your Strategic Objectives. This contains standards that help the owner achieve his

goals