Why Do Most Small Businesses Fail?
What is the Money Date? A weekly time to check in. 3 things we review and update: 1. Spending 2. Earning 3. Savings
At the annual XY Planning Network Conference in St. Louis, one of the keynotes was by Michael Gerber, author of the Book called The E-Myth, why most business don’t work and what to do about it.
I read this book years ago and it opened my eyes as a small business owner.
From the keynote presentation, based on his latest book called Beyond the E-Myth, he outlined 7 things all successful businesses need.
- Dream – the great outcome my company will create
- Vision – the form your company must take
- Purpose – the big result you company will produce
- The mission – is to bring dream, vision and purpose to life which involves a turnkey operating system to make it work
- The job or the client fulfillment system, is about developing your “how-to” manuals and software. It involves getting to know your clients better than they do, so you can uncover solutions they can’t find themselves
- The client acquisition system – about attracting potential clients, with a compelling story, leads generation and conversion.
- Franchise prototype – adding management and leadership system to run it for you