<ul><li>Change in business (and life) is essential for growth. Everything changes </li><li>Without understanding the importance of change you won't be able to alter the things in your business that aren't working and require change to flourish</li><li>Change in any business is vital as without it no business can succeed. Don't get too stuck in your old ways/ habits</li><li>BE OPEN TO CHANGE</li></ul>

Lesson 1: Change

<ul><li>The Technician is the doer. Loving the hands-on work within the business</li><li>Not caring about thinking or ideas or multitasking, the Technician just wants to tinker and work, always living in the present</li><li>The Technician believes that all things need to be reduced to a method if they are to be of value</li><li>Ruminating is common of this personality type</li><li>DELIVERS ON THE VISION THROUGH VARIOUS SYSTEMS</li></ul>

The Technician

SYSTEMS?<ul><li>Systems are one of the most important aspects of your business.</li><li>Systems are a series of specific and explained processes showing how to carry out a task in detail</li></ul>WHY ?Systems are important for:<ul><li>Creating consistency</li><li>Increasing your business's value</li><li>Improving quality of work</li><li>Increasing efficiency</li></ul>RULES<ol><li>Always give consistent value to your customers and partners</li><li>The system should be able to be operated by low skilled workers</li><li>Order is required in all aspects</li><li>Document using an Operations manual</li><li>Provide predicable service to customers</li><li>Use colour schemes specific to your business</li></ol>

Lesson 4: SYSTEMS and Strategy

<ul><li>The Entrepreneur is always thinking forward and about the future. </li><li>This personality is the part of us that is constantly making strategies, innovating, thinking creatively, looking for opportunities (and occasionally wrecking havoc).</li><li> This also comes with the need for control of the things around them</li><li>CREATES THE VISION</li></ul>

The Entrepreneur

"Frightened of change? But what can exist without it? What's closer to nature's heart? Can you take a hot bath and leave the firewood as it was? Eat food without transforming it? Can any vital process take place without something being changed?"

"If your business depends on you, you don't own a business-you have a job. And it's the worst job in the world because you're working for a lunatic!

Every person who goes into business is made up of three different people These are<ol><li> The Technician, </li><li>The Manager, and </li><li>The Entrepreneur. </li></ol><ul><li>Each of us has different aspects of these personalities inside of us which we need to understand so we can make better decisions. </li><li>Balancing all three of these personality types is ideal and would allow us to be incredibly competent.</li></ul> These personalities are as follows:

Lesson 3: The three personalities

<ul><li>Most small businesses fail because they believe that if they understand the technical work of a business then they understand a business that does technical work (e.g. just because you are a good carpenter, doesn't mean you understand how to start a carpentry business)</li><li>The key here is to ensure that you understand the inner workings of business before attempting to start one. If you have already started a business, you still have a chance to learn but that will require change!</li></ul>

Lesson 2: THINK DIFFERENTLY

<ul><li>The Manager is the planner/ organiser. Always creating order and living in the past. Where the Entrepreneur sees opportunity and possibilities, the Manager sees the problems that will invariably occur.</li><li>Constantly chasing the Entrepreneur and cleaning up the mess left behind, the Manager is tactical and focuses on achieving results through others.</li><li>TURNS THE VISION INTO ACTION</li></ul>

The Manager

Important for anyone in business already or wanting to start one

An instant classic, this revised and updated edition of the phenomenal bestseller dispels the myths about starting your own business. Small business consultant and author Michael E. Gerber, with sharp insight gained from years of experience, points out how common assumptions, expectations, and even technical expertise can get in the way of running a successful business. Gerber walks you through the steps in the life of a business—from entrepreneurial infancy through adolescent growing pains to the mature entrepreneurial perspective: the guiding light of all businesses that succeed—and shows how to apply the lessons of franchising to any business, whether or not it is a franchise. Most importantly, Gerber draws the vital, often overlooked distinction between working on your business and working in your business. The E-Myth Revisited will help you grow your business in a productive, assured way.

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Personal Development

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Money & Investments

entrepreneurship

Entrepreneurship

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Business

An instant classic, this revised and updated edition of the phenomenal bestseller dispels the myths about starting your own business. Small business consultant and author Michael E. Gerber, with sharp insight gained from years of experience, points out how common assumptions, expectations, and even technical expertise can get in the way of running a successful business. Gerber walks you through the steps in the life of a business—from entrepreneurial infancy through adolescent growing pains to the mature entrepreneurial perspective: the guiding light of all businesses that succeed—and shows how to apply the lessons of franchising to any business, whether or not it is a franchise. Most importantly, Gerber draws the vital, often overlooked distinction between working on your business and working in your business.The E-Myth Revisited will help you grow your business in a productive, assured way.

Michael E. Gerber is a true legend of entrepreneurship. Inc. Magazine called him "the World's #1 Small Business Guru." He started over 40-plus years ago addressing a significant need in the small business market: businesses owned primarily by people with technical skills but few business skills, and no place to go to get meaningful help.

MICHAEL E. GERBER

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