I just read a wonderful book

jgrim

jgrim

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Oct 4, 2009
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jgwebdevelopment.com
I've started my web development company about a year ago. I knew and still know very little about doing business. So when the opportunity for me and my business to obtain a free business coach I jumped on it.

The first time I met with the business coach, he simply asked, "What I do and where I want to go in life." I, like most people would say, said, "I don't know". He simply said, "Read The E-Myth Revisited by Michael E. Gerber. I will see you next week."

I've read it; I can say it has changed my outlook on my business and my life. Here is a link to it for you to check out: [ame=http://www.amazon.com/E-Myth-Revisited-Small-Businesses-About/dp/0887307280]Amazon.com: The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It (9780887307287): Michael E. Gerber: Books[/ame]

If anyone else as read it, please let me know your thoughts. After the rest of you read it, let me know yours. It has changed my business and my personal life already, that's why I feel so compelled to share it.
 
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To sum it up, build systems a retard could follow. Y'know like fast food franchises.
 
ppcIcon said:
To sum it up, build systems a retard could follow. Y'know like fast food franchises.
Click to expand...
That is true but don't underestimate the power of it. Having a system that a retard can follow will allow you to hire less than genius people and scale up your operations for a MUCH lower cost than having to hire very smart employees who are able to figure out everything themselves.
 
You're both right. However, I think it's more than just making a system that anyone can do. It's make a system that anyone can use in order to sell the system, use the system to help detach yourself from the work, or sell your company and system.

Reading it has helped me realize why I went into business. Not only to lose the boss and make money, but to automate my income on a great scale.

I've realized that I've removed the boss as a person and replaced it with clients and deadlines. I went from 8 hour days to up to 18 some days. My life is not as easy as it was when I simply had a boss and a job.

A lot of what he speaks of is organization and thought before acting. There are a lot of things I have looked past in order to get things finished. I'm not on a path of freeing myself from my work, I'm not automating my income by any means.

I don't think I will follow his strategy word to word; I will, however, remember why I went into business for myself and work to actual goals on a more organized methodology.

If anything, this book is one to motivate the mind to be more than one currently is. It makes you think.

ppcIcon said:
To sum it up, build systems a retard could follow. Y'know like fast food franchises.
Click to expand...

This is a major over simplification of the message of the book. Consider reading it again, and think about it more this time.
 
The problem is that you have to break through a certain threshold before you can move from 'technician' to 'coordinator' and from 'coordinator' to 'CEO'. Breaking through that threshold is where the problem is, IMO. Since most of us don't have start up capital, we HAVE to start at the technician level in whatever business. But we can't move to a coordinator until we are making enough money to hire employees*.

Then once you finally get enough profits to hire employees, leaving the coordinator position also takes a new 'level' of profits, because you will have to add additional responsibilities which means either creating new positions(more $) or expanding the scope of existing positions(more $).

Seriously, knowing the ideal and being able to accomplish it is such a huge difference that it makes me skeptical of business books and advisers. It's easy to understand the general concept of that, build systems that are automated, work on the biz not in the biz etc, but in my experience, most people cannot even begin to apply these valuable lessons because they never earn enough in the 'technician' phase.

No hate on the books premise, it's valuable, I'm just saying that most people won't be able to get to the profit level necessary to enact a lot of what the book suggests.
 
I think there is something to be said about building a system that idiots can do. I'm pretty sure there is a mentally retarded guy on my doorstep right now about to try to pay me $50 if he can install something on my TV.
 
bigballin said:
The problem is that you have to break through a certain threshold before you can move from 'technician' to 'coordinator' and from 'coordinator' to 'CEO'. Breaking through that threshold is where the problem is, IMO. Since most of us don't have start up capital, we HAVE to start at the technician level in whatever business. But we can't move to a coordinator until we are making enough money to hire employees*.

Then once you finally get enough profits to hire employees, leaving the coordinator position also takes a new 'level' of profits, because you will have to add additional responsibilities which means either creating new positions(more $) or expanding the scope of existing positions(more $).

Seriously, knowing the ideal and being able to accomplish it is such a huge difference that it makes me skeptical of business books and advisers. It's easy to understand the general concept of that, build systems that are automated, work on the biz not in the biz etc, but in my experience, most people cannot even begin to apply these valuable lessons because they never earn enough in the 'technician' phase.

No hate on the books premise, it's valuable, I'm just saying that most people won't be able to get to the profit level necessary to enact a lot of what the book suggests.
Click to expand...

I know what you mean. I think that might be the reason why 80% of businesses fail in the first year. It's just overcoming those steps to be a success. It seems that what his message is, is that everything is mental. "I think therefore I am" kinda stuff. Think big, you'll be big.

I guess I'll let you know how things work out. Been working on a new business plan all day.
 
E-Myth is a great book, I really enjoyed reading it, it was passed along to me by a friend of mine with a small business.

My business partner and I put together an online Process Management System that allows them to create and manage processes as well as assigning tasks to their employees and tracking their progress.

It's intended to make the transition into scaling easier, as they can hire new employees and get them working first day instead of a long lead time, inspired by the E-Myth idea of replicating franchises.

Working well for them so far, but any way you can execute on the E-Myth ideas are golden.
 
The problem with most people starting out is that they have a goal to make as much money as possible, in as short a time as possible. This is simply the wrong goal, as it leads to overwork, stress and unhappiness.

The trick is to really think about what you want. I did this about ten years ago and decided that what I really wanted was enough money so that I didn't have to work any more. So my goal was to have nothing that I HAD to do, that my time would always be my own and I would answer to no one but myself.

I am pleased to say that I achieved this goal some time ago and have now written my own book about it. The book is free and does not try to sell you anything but my ideas.

I'd be really pleased to find out what everyone here thinks of it.

It can be found here Lifestyle Millionaire
 
jgrim said:
I know what you mean. I think that might be the reason why 80% of businesses fail in the first year. It's just overcoming those steps to be a success. It seems that what his message is, is that everything is mental. "I think therefore I am" kinda stuff. Think big, you'll be big.

I guess I'll let you know how things work out. Been working on a new business plan all day.
Click to expand...

Most definitely. I really think a lot of the boot-strap phase is going to come down to how many hours you are logged in + skill, but I'm saying that as a boot-strapper. Hopefully we'll both get past that first threshold where we can begin WORRYING about managing teams(no teams right now brah lol).
 
I found an investor, found was talking with an individual about this book and went over my plan so far. He was so impressed that he wants to be a non-voting partner.

I'm also looking into hiring a developer to remove me from the technical positions; this will allow me to work on the other positions and better plan, sell, and expand my business. I've had 6 individuals apply already in the local area. I already have an office, so that isn't an issue.

I'm very excited.
 
I use to shit on books a lot, but lately I've starting reading them again and I have to say they definitely do make a good impact. Last one I read was called "The Answer" and I thought it was pretty interesting. I'll probably give this book a try too.

Thing with books, they do change your life/outlook or w/e the fuck you want to call it but it seems only temperary. If you don't read for a few months, it's easy to fall back into your old ways and bad habits.So I think it's a good idea to read books likes these at least 1-2 times a month just to make sure you maintain the same "mindset" and can keep the momentum going.

At least that what works for me. Everyone's different though.

This is a pretty good video by Brain Tracy too.

expertsacademy.com Blog BONUS!
 
jgrim said:
I've realized that I've removed the boss as a person and replaced it with clients and deadlines. I went from 8 hour days to up to 18 some days. My life is not as easy as it was when I simply had a boss and a job.
Click to expand...

That's definitely a vital separating factor. Not only do you have to have a clear vision and plan but the competence and drive to execute it.

Good luck with your new venture.
 
The way I look at is.
Books are like a good diet for your mind.
TV, Porn, Video Games, mind junk food.
You are what you eat.
I can honestly say, books made a difference in my thinking. A smart person learns from his own mistakes, but the wise learns from the mistakes of others. You can say the same about success.

I started with Self Help Books; now I love reading autobiographies and marketing books. My fav bio Benjamin Franklin - lots of never ending wisdom there.

Haven't read E myth - will add to my reading list.
 
Danc1122 said:
[...]

Thing with books, they do change your life/outlook or w/e the fuck you want to call it but it seems only temperary. If you don't read for a few months, it's easy to fall back into your old ways and bad habits.So I think it's a good idea to read books likes these at least 1-2 times a month just to make sure you maintain the same "mindset" and can keep the momentum going.

[...]
Click to expand...

That's a very good point. I can't count how many times I've set to change my ways and expand to then just fall back on my old ways. I don't know what changed in me this time but I know it was something.

Yesterday, I started negotiations with Kings Island in Ohio and started interviewing applicants to fill the developer spot. Tomorrow, I'm meeting with someone that might want to join as a vested partner.

I guess there just comes a time when you say enough is enough and the time for change is now.
 
Rusky said:
The way I look at is.
Books are like a good diet for your mind.
TV, Porn, Video Games, mind junk food.
You are what you eat.
I can honestly say, books made a difference in my thinking. A smart person learns from his own mistakes, but the wise learns from the mistakes of others. You can say the same about success.

I started with Self Help Books; now I love reading autobiographies and marketing books. My fav bio Benjamin Franklin - lots of never ending wisdom there.

Haven't read E myth - will add to my reading list.
Click to expand...

Make sure you read E-Myth, Revisited. It's an updated version of his original book E-Myth. I haven't read the previous version but I hear they're very similar and you'll take more from the more recent version.
 
auroinfo said:
I haven't read the E myth yet........ but after listening to you I would sure like to read it........ Now, I have read the book, "You can Win" by Shiv Khera.......It is also a very motivational book...........
Click to expand...

I'll add "You can Win" to my list. Is it simply a motivation book or business related?
 
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