Why Do Most Small Businesses Fail?

small business

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


Anna Sergunina
Anna Sergunina

I'm Anna Sergunina, CFP®, President & CEO at MainStreet Financial Planning, Inc. My passion lies in serving others through financial planning, helping clients achieve their dreams like buying a home, saving for education, or retiring early. With over two decades in the industry and a CFP designation since 2009, I'm dedicated to excellence and continuous growth. Beyond work, I cherish moments with my son Liam, prioritize self-care, and engage in content creation for my Money Boss Parent Podcast and Money Library blog.

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