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If you have completed the first step
of a financial re-structuring then .. what comes next?
The book 'The E-Myth Revisited' by Michael
Gerber is a guide to why most small businesses don't work
and what to do about it.
The steps involved have been followed
by many successful companies. Purnells themselves are currently
being coached through the E Myth programme.
We suggest you first read the book and
then if you wish Purnells can point you towards E-Myth coaches
in your area.
The book addresses the false premise
that it is only "entrepreneurs" who make successful businesses.
The book shows how to build a "franchise
prototype" based on your core business by systemising all
key business processes. The work involved in writing and continually
improving these systems is extensive but very worthwhile.
The philosophy behind the book is that
if you are a business owner you should "work on not in your
Business". By working "on" your business you avoid the meaningless
nitty gritty and instead involve yourself on writing, implementing
and training staff on the key systems.. with the aim that
ultimately the business will run itself and become .. a franchise
prototype.
That is the path that Purnells have followed
- with the systems introduced being re-inforced by ISO 9002
disciplines such as: -
- A disciplined corrective action
system and
- Regular internal quality audits
to check that systems are being operated as planned.
The 'E-Myth Revisited' explains that
you should consider following a formal business development
process.
That process ensures that you first identify
your personal, rather than business, primary aims in life.
Having established your primary aims,
as a second step you then consider and produce written strategic
business objectives, of set aims to achieve within a defined
period.
The component parts of the strategic
objectives are then broken down to identify a small number
of key strategic indicators. Those indicators are then monitored
quarterly against a plan to determine the progress made in
achieving the ultimate strategic objectives.
If you are buying a house the key words
are:
"Location, location,
location"
If you are running a business, Michael
Gerber says the key words are:
"Systems, Systems, Systems"
The E-Myth process explains how to write,
implement and monitor truly successful systems for:
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