Fuller summary of the entrepreneur myth book by Michael Gerber





We all want to be thrilled because those who know you know that the long-awaited financial freedom is not only achieved by working harder and selling a lot of your product and service. If I’m not an effective salesperson what entrepreneur am I? If I could summarize this book in a few words it would be “Don’t depend on people but on systems, don’t build a business, create franchises” It’s not a lot of work I build franchises but work done wrong.

Parts I took from the book will have / front and back after each text

These summary will contain ideas and parts of the book. As Napoleon Hill said, every failure brings with it a satisfactory success “More than 80% of companies that expire in the first 5 years fail within the next 5” Why this can be in the way of management or why the company lost its most important reason . In the book there are parts that expound very well the idea that certain books don’t work and many aren’t even real, books maybe don’t work and people have to work. The crux of this book is the idea that your company is nothing more than a clear reflection of who you are.

The book highlights 3 personalities who are Entrepreneur, Administrator and Technician. I can easily explain that its meanings are already in the word the entrepreneur and the personality who seeks to employ an innovative vision in the world he is the person who is creative, innovative, bold and the administrator, the administrator is the organizer solidifying technical skills and establishing plans and The technician is the simplest to understand and he is the personality that exerts the most command over today’s entrepreneurs. He is the person who just wants to do and execute without thinking or imagining. The concept of technician also matches the phrase that if the company depends on you for everything to work, you are not a business, you are an employee.

Your company is like a human who has just been born where you take care of him when he is a child and he goes on growing and going through stages, first he is a child then he becomes a teenager until he becomes an adult, the moment you know that your company has gone from child to teenager, the youth stage where you are a child and the technician who does everything he does not look for a place to become an entrepreneur, but to work the key to find out if the company is already going to adolescence and when you go down to ask for help most of the time occurs as a result of a crisis triggered during childhood

/No one runs your business as well as you. Among a teenager company anywhere in the world you will find the owner working working and working and even more busy doing everything that has to be done despite having someone who should do all that. And the more the owner does, the less employees do. And the less the employees do, the more the owner is convinced that he will have to do everything, his interference is increasing. If you are like that you don’t have a company you have a job and the worst job in the world. Every teenage company reaches a point where the owner’s comfort zone is beyond the limit within which he feels secure in his ability to control the environment. The truth is that staying in your teens is the worst thing that can happen in a company.

/Companies dominated by the personality of the technician end up becoming suffocating and less pleasant/
Companies that go all or nothing are a sign of our time. They are a high tech phenomenon that is nothing more than an entrepreneurship with the help of technology in other words a technological entrepreneurship and you need to have maturity because there is the future. The book is very clear that maturity is the third phase of the company’s growth, mature also goes through childhood and adolescence but in a completely different way.

The book quotes Tom Watson and some of his responses about his company’s success. He says that IBM is today for three reasons.

1 Having a clear vision of how the company would be when it was finally ready, simplifying I already had the model of what would be the dream come true,
2 Having already in mind how the company will act, Tom had already created his model even before physically creating the entire company, having the image and model of how the company would act, he could already start acting from the beginning.

“I realized that for IBM to become a big company, it would have to act like a big company even before becoming one” At IBM, every day was dedicated to the development of the company and not doing business. They say they didn’t do business but build a company . Then the question and how will the customer see your company? And how will your company stand out from the rest.

The next part of the book talks about the Turn-Key revolution revolution which is when the entrepreneur realizes that he needs to transform his company into a business model.
If you don’t know the business model describes how an organization creates, delivers and captures value, in economic, social, cultural or other contexts. The process of building and modifying the business model is also called business model innovation and is part of the business strategy.

“At the heart of the Turn-Key revolution is a way of doing business that has the power to dramatically transform any small business” According to studies done by the US Department of Commerce between 1971 and 1987 less than 5% of franchises closed their doors in the first year, and less than 25% in five years, compare these statistics to the more than 80% failure rate found in individual companies, and you will soon understand the power of the Turn-Key revolution in the economy and the contribution of Franchise from Business Formatted for your future business success.

The responsible for this growth of the Formatted Business franchise that is based on the certainty that the real product of a company is not the product it sells but how it sells / The real product of a company is the company itself / Let’s get Ray Kroc from the net MacDonalds the product was not hamburgers but MacDonalds itself. We can say that Ray Kroc was an especially perfect entrepreneur, he carried big dreams but no money at the beginning he didn’t compete with other cafeterias but with other business opportunities. of trying them all but never dedicating 100% to just one, Ray Kroc knew this and was also convinced that he would have to focus on just one at first.

Ray Kroc forced to create a profitable company created a company that would work for any buyer, pay attention to this phrase that changes the way we understand conventional business and that “A company should depend on business and not people” Ray Kroc I worked for the company and not for the company.

He studied McDonald’s as carefully as Henry Ford must have shown the Model T, which revolutionized the auto industry. How to develop prototype components so that they could be assembled at very low cost, with fully interchangeable parts? How do you develop the components so that the resulting business system could be copied over and over again, working as reliably as the old one—just like the Model T? The secret is the prototype of

Franchise, It is on the Franchise Prototype that every successful franchisor builds his future. It is in the Franchise Prototype that every extraordinary franchisor sows the seeds of his fortune. And it is in the Franchise Prototype that you can find the model you need to make your company work. While 80% of companies close their doors within 5 years, 75% of those who opt for the Formed Business franchise are successful.

Unlike branded franchising, Ray Kroc’s system left franchisees with as few decisions to make as possible. To do this, he underwent a rigorous training program before receiving authorization to operate the franchise. At McDonald’s, the program was called the University of Hamburgers, or Hamburger U.

There, the franchisee did not learn how to prepare hamburgers but how to operate the system that makes hamburgers—the system by which McDonald’s always satisfied customers. The system that would be the foundation of extraordinary success. No wonder it calls itself “The Most Successful Small Business in the World” All the extraordinary details invented by Ray Kroc over four decades ago are even more extraordinary today. Before opening a second store do the first one works

Summarizing all these texts is a prototype franchise and the model of a business that works, and the balanced model that satisfies the Entrepreneur, the Administrator and the Technician at the same time. Understand that the purpose of your life is not serving your company but the main objective of your company and serving your life, you can start working for the company not knowing it needs to be that way.

“The company’s good organization tells the customer that the employees know what they are doing the company needs to act in a uniform and predictable manner” Fuming a little context, I can’t forget to mention that colors and shapes can build or destroy a company, so remember to invest time to study and capital to invest in this area, an example is apple it does not have the best specs but its designs are almost always the best in the market which brings more eyes. They invest money in time, it seems! And it’s worth it

The question you must continually ask yourself is: How do you consistently provide the customer with the results they want? In other words: How to create a company whose results are dependent on systems, not people? Dependent on systems, not experts? In this way, the system becomes a tool to increase productivity and perform tasks so that the company stands out positively in the competition.

The beginning of adolescence and the effective system is knowing how to hire people The typical businessman prefers highly trained employees because he believes they facilitate the work that can be left in his hands, being the typical businessman prefers Management by Abdication to Management by Delegation. If you don’t know how to manage, how will you choose professionals to manage them, they will act according to standards they learned in another company, not according to your standards.

Ask the second question how my ‘product-company’ should work to attract not only customers but also people willing to work on it, take as an example again that teenager who likes programming, designer and technology doesn’t want to work there?

Just don’t think of your company as a job! Work for the company, not the company, and ask yourself: How can I make my company work without me there?

  • How do I make my people work without me constantly interfering?
  • How to systematize my company so that it can be copied 5,000 times and the last copy works as well as the first?
  • How to have a company and, at the same time, be free from it?
  • How can I dedicate my time to what I like to do, and not what I have to do?

The problem was not and never was the company, the problem is you. If you want to get rid of frustration and exercise real control over the business, you need to cut this identification with the company

Part of the business development process

Error tolerance is a very specific part of great company culture – and that lesson comes straight from the top. Champions have to try several times and consequently suffer some failures until the organization learns.

Thomas J. Peters and Robert H. Waterman In Search of Excellence

The 3 innovation activities in an enterprise are Innovation, Quantification and Orchestration

Error tolerance is a very specific part of great company culture – and that lesson comes straight from the top. Champions have to try several times and consequently suffer some failures until the organization learns. Thomas J. Peters and Robert H. Waterman In Search of Excellence.

A tip for sellers instead of asking I can help, how about being innovative and questions you haven’t been here before go through the barrier that the customer only sees you as a seller you need to be seen as a friend to make good sales and not just be seen as a seller. Think simple words and not too complicated
Innovation is the mechanism by which a company gets the customer’s attention and establishes its identity. Isolating innovation does not lead to any place, not only innovative in thoughts, but innovative in practice. The qualification in this context refers to the numbers related to the impact caused by the innovation, if the company does not practice qualification, it costs millions.

How would you know if blue clothing has a specific financial impact on the business if you didn’t quantify that impact and maintain control over the valuation? The answer is obvious: you wouldn’t know. The book leaves some questions that will help you qualify your company.

How many customers do you meet in person each day?

How many in the morning?

How many in the afternoon?

How many people call your company a day?

How many call to ask the price of products?

How many do you want to buy?

How many units of product X are sold daily?

What time are sales made?

How many units are sold per week?

What are the busiest days? What is the movement level?

A hacker for you to use during your trajectory and knowing that without a purpose, all habits become boring. Orchestration is really this: a habit. A way of doing things habitually. The company should not occupy the first place on your agenda, who should occupy this place and you. Ask yourself. What do I value most? What kind of life do I want for myself? How is the life I want? Who do I want to be?

What would you like written in the script to be read for them to attend your funeral? Here’s your main goal! Realize the importance of the Main objective for everything in your life to live the present according to your vision of the future and the smartest things to do.

So, before starting a business or before going to work tomorrow,

ask yourself the following questions:

  • How do I want my life to be in general? – How do I want my daily life to be?
  • What aspect of my life would I like to be able to say that I know in depth? – How I would like to relate to family, friends, partners

business, customers, employees, community?

  • What would I like people to think of me?
  • What would I like to be doing in two years? And ten years from now? And twenty years from now? At the end of life? – What specifically would I like to learn in life – spiritually, physically, financially, technically, intellectually?

What about relationships?

  • How much money do I need to do what I want? When will I need this amount?

The answers to these questions represent a pattern to be used to assess your progress!! As long as you don’t leave the comfort zone, never know what’s here!!

Strategic objective part

“Your arrows don’t hit the target” observed the master, “because they don’t go far enough spiritually”

THE FIRST PATTERN: MONEY

The first pattern of the Strategic Objective is money. Gross revenue. How big is your vision? How big will the company be when it is fully developed? A $300,000 company? 1 million? From 500 million? Answer these questions to already have a conviction of your company practically present.

How to know if this is possible by determining if your company is an Opportunity Worth Pursuing, an opportunity worth seizing. The business is in line with trends. Trends become a trend because they are relevant. If an opportunity allows you to be aware of your target audience’s market, it’s worth pursuing. … Look for these signs of good business potential, and when you see them, don’t waste your time and grab this opportunity.

The first question to ask when creating standards for the Strategic Purpose is what will serve my Main Purpose, in other words how much do you need to live free without work?

THE SECOND PATTERN: AN OPPORTUNITY

WORTH IT TO GRAB

One opportunity worth seizing is a company that can meet the standards you’ve created for both the Core Purpose and the Strategic Purpose.

If this is reasonably possible, the company is worth it. If reasonably impossible, forget about the deal, however exciting, advantageous and attractive it may seem. Run away, or you’ll waste your precious time, and you might miss some real opportunity. How to find out if you are facing a real opportunity? Look around. Ask yourself: Does the company I have in mind solve the problems of a large group of customers? The answer points out what you should sell and to whom.
The merchandise and what the buyer takes concretely. The product is what the buyer feels about the company. The small business is a practical place, not idealistic, but for the practice to work, Idealism must be present

An example and the infamous chanel commercial

-The scene changes quickly and frequently to other shots, including that of a tall building.

-The only sound is the music, which supports the suggestive visual ballet. The dark shadow of an airplane runs vertically through the building.

-The woman approaches the man.

-The music continues.

-In a tone of voice that suggests intimacy and seduction, he whispers, “May I ask a question?” You don’t hear the answer.

-She just tilts her head back, closes her eyes and opens her mouth slightly.

-The message appears: “Share the fantasy. Chanel.”

Not a word about perfume – the merchandise. The commercial sells the product that is nothing but fantasy. In fact, no one is interested in the merchandise, people buy feelings. There are no specific numbers of standards for strategic goals, there are only specific questions to be answered.

Organizational Strategy

Every organization and hierarchy. At each level people serve those one level above. So an organization and a structured institution. Without structure, without structure it becomes a heap. And huddles don’t do. Destroy.

Development must be constant and you must be ahead of it. The development reflected in the organizational framework can have a more profound impact on a small company than any other stage in the company’s development. You will need an organizational chart so you won’t be a prisoner of the sote, without an organizational chart everything is left to luck, feelings, personality and people’s good will. To start an enterprise you need to know how to separate yourself from the roles you have to play, you need to become independent from them; not let them become dependent on you. If you don’t act like your employees act, you won’t be able to make everything go as you expect. A real don’t wait because no one will.

Do not depend on people to complete the tasks depend on systems, work for you, in fact depending on people would be your ruin what you need is a management system. The book tells of a certain hotel owner where he would be an example of the organization’s reciprocated success. The business owner of the hotel still says, “What we do here is simple. Anyone can do it. This is our Operations Manual. As you can see, it’s just a slew of checklists. Checklists.” How do I get my people to do what I want? That’s the question I hear most from small business owners. My answer invariably is, “Impossible! If you want a certain task to be done, create an environment where doing’ is more important to your people than not doing. Where doing it well becomes a way of life for them .” The book talks about certain rules of the game that are somewhat off the curve.

1) Never think about what you want people to do and then create a game
2) Never create a game for your people that you don’t want to play.
3) Make sure there are specific ways to win, without ending the game.
4) Change the game every now and then – the tactics, not the strategy.
5) Never expect the game to be self-sustaining. People need to be reminded of him constantly.
6) The game has to make sense
7) The game needs to be fun once in a while

Marketing strategy.

In the case of print ads, tests have shown that 75% of purchasing decisions are made right in the title. In salesperson presentations, data indicates that the sale is decided within the first three minutes. THE TWO PILLARS OF A SUCCESSFUL MARKETING STRATEGY

/The question becomes: if the customer doesn’t know what he wants, how am I supposed to know? The answer is: impossible! Unless you know more about the customer than the customer does. Unless you know their demographics and psychographics, the two essential pillars of a successful marketing program. When you know who your customer-demographics-is, you can determine why they buy-psychography./ Marketing should be taken more seriously by small businesses than by large ones.

Systems Strategy

THREE TYPES OF SYSTEMS

In your company, there are three types of systems: Rigid Systems (Hard), Malleable Systems (Soft) and Information Systems.

Hard system is when performing a very difficult task in real time and which is restricted to producing its results within certain time limits. computer is a Hard System, as well as the colors of the reception area of ​​this office. Malleable Systems encompass living beings or ideas. You and Hamlet’s text are Malleable Systems. Information Systems inform us about the interaction of the other two Inventory control, cash flow forecasting and sales activity reports are Information Systems.

Everyone in the business world has heard that 80% of sales are made by 20% of salespeople. Unfortunately, few seem to know what 20% are doing and what 80% are not doing.

I’ll tell you what it is

The 20% stylize a system, and the 80% do not. A sales system is a malleable system.

I’ve seen such systems produce an increase in sales between 100% and 500% in a very short time!

What is a sales system? It is a fully orchestrated action between you and the customer, following six main steps:

  1. Identification of specific landmarks – or decision points

are the customer’s – during the sales process.

  1. Written record of the words that will enable successful access to the customer. (That’s right, in writing, like the text of a play!)
  2. Creating materials to be used with each text.
  3. Memorization of the text for each Reference Point.
  4. Text essay by sellers, to be transmitted identically
  5. Effective communication. For this, it is necessary to speak clearly, observe, listen, appreciate, understand and captivate potential customers. With these tips you will not be just another person selling a sales system.

What can I say that the things I read that moved me the most in this book is the phrase “The path of entrepreneurship is the path of surprise. Action continues” persistence in entrepreneurship.

You must know that the wise man lives by acting, not thinking about acting or what he will think about after acting. The wise man courageously chooses and follows the path.

Carlos Castanelt- A Strange Reality.

But the question everyone wanted to know the answer to! Will the franchise prototype model work?

/My answer is a resounding “Yes!” Yes, it works. Whenever it is applied. And it will work for you. It works because it requires total dedication from those involved. It cannot be done “more or less” or frantically. It can only be done with intelligence, rationality, determination, humanity and systematization./

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