Qualified Remodeler Magazine

MAR 2019

Qualified Remodeler helps independent remodeling firms to survive, become more professional and more profitable by providing must-have business information, namely best business practices, new product information and timely design ideas.

Issue link: https://qualifiedremodeler.epubxp.com/i/1090915

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Page 29 of 70

imbued into every thought you have, every action you take, every promise you make, every hope you evoke, into every person you connect with, from those who buy from you, to those who work for you, to those who lend to you, to those who invest in you. And the stunningly wonderful thing about all that is that the point of view I'm sharing with you here works every single time—to the degree, of course, that the owner follows it, one remarkably clear step at a time. Ray Kroc at McDonald's did. Fred Smith at Federal Express did. All the folks I introduced to you previously did and do. Every single entrepreneur on the planet does, or if they don't, they fail big time. They fail, as will you—the one reading this commentary now. So let me give you the sum total of what's re- quired for you to soar: A dream, a vision, a purpose, and a mission is the fundamentally inspiration- al platform upon which every great company is launched. When I started in 1977, my dream was to trans- form the state of small business worldwide. My vision was to invent the McDonald's of small-busi- ness consulting. My purpose was to make it pos- sible for every small business owner to become as successful as a McDonald's franchisee. And my mission was to invent the small business de- velopment system upon which every single small business in the world could design, build, launch and grow an amazingly productive enterprise. Principles of the E-Myth Thirty-three years ago, in 1986, Michael E. Gerber wrote his seminal book on the topic of running a small business: The E-Myth: Why Most Businesses Don't Work and What to Do About It. In subsequent years there have been updates to the original book (five), and there are a number of E-Myth books that delve into the ins and outs of specific segments, including The E-Myth Contractor, which is the title most applicable to remodelers and home improvement companies. Gerber served as a columnist for Qualified Remodeler magazine from 2002 until 2006, and he has previously spoken at several events hosted by the magazine. His presen- tation at TOP 500 LIVE! in Las Vegas is in keeping with the conference theme of sales management and lead-generation strategy. The E-Myth philosphy explains why 80 percent of small businesses fail. (In the remod- eling industry alone, 20 percent of business fail in the first five years.) The philosophy goes on to elaborate that companies must be built on repeatable systems and should not rely on the work of a single individual. The goal is to be able to build a company that can be handed over to another individual and successfully operated with the correct instructions. E-Myth Cornerstones Having great technical skills does not mean you know how to run a business. Think of your business as a national franchise and then start with one store. Build a system of systems so your business does not rely on people's skills. There are three basic types of business owner mindsets: 1) The Entrepreneur, the visionary; 2) The Technician, the do-er looking for a paycheck; and 3) The Manager, who is the enabler focused on profit. Five Core Principles The Principle of Life: Your business is a way to get more out of your life. It is there to serve you. The Law of Objectivization: View your business as separate from you, like a product. Working ON the business, not IN it: You need to be focused on building your business, not just products or services. Systemization: View your business as a system. The system should do the work. Business Development Cycle: The task of the owner is an ongoing process of inno- vation, quantification and orchestration. Michael E. Gerber is a leading small business author of 32 books on entrepreneurship and small business management. His N.Y. Times bestseller, The E-Myth Revisited: Why Most Small Businesses Don't Work And What to Do About It, is utilized in 118 univer- sities as a foundational entrepreneurial textbook; is translated in 29 languages; and has been utilized in the creation of the curriculum of Michael E. Gerber Companies, ventures Gerber has founded in order to "Bring the Dream Back to Small Business Worldwide." He is a keynote speaker at TOP 500 LIVE! this month in Las Vegas. THE POINT OF VIEW I'M SHARING WITH YOU HERE WORKS EVERY SINGLE TIME. QualifiedRemodeler.com March 2019 27

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