Essay About Turn-Key Revolution And Small Businesses

School of Hard Knocks Why Some People Have an Edge
Essay title: School of Hard Knocks Why Some People Have an Edge
Ever wonder why most small businesses– no matter how huge
effort they put in their endeavor–still fail? Micheal
Gerber reveals the answers in this book. Accordingly, the
future of small businesses revolve in only three
philosophies: the e-myth (entrepreneurial myth), the
turn-key revolution, and the business development process. The E-mythThe e-myth, or the entrepreneurial myth, evolved from one
very fatal assumption– that the success of every business
is simply achieved by summing up the following: an
entrepreneurs desire to own a business plus the certain
amount of capital he puts in plus the knowing the amount
of targeted profit. Little did the entrepreneurs know that this assumption
spell DISASTER rather than SUCCESS. Entrepreneurs need
to learn to focus more on the business?he people
involved in it and the phases it normally undergoes.
Knowledge on these can save small businesses from
experiencing entrepreneurial seizure? stage wherein an
entrepreneur goes through feeling of exhilaration,
exhaustion, and despair. Small businesses basically consist of three main
characters namely: the technician (the doer and builder),
the manager (the planner), and the entrepreneur (the
dreamer, visionary). Moreover, small businesses have
different life phases. These are: infancy (the
technicians phase); adolescence (getting some help
phase); beyond the comfort zone; and, maturity and the
entrepreneurial perspective. The Turn-key RevolutionAs implied by the term itself, Turn-key Revolution
speaks of the distinct transformations on the way
businesses are managed and should be managed. One very
prominent example is the introduction of McDonalds
the idea of business format franchise to the business
world. The business format franchise has set dramatic turn
around on the future of small businesses. Here, the
franchisor entitles the franchisee to owning rights to
his entire business system. This format is anchored on
the belief that the real product of a business is its
sales technique rather than what it sells. The Business Development ProcessThe business development process is the response to the
unending dynamism of the business world. It equips the
entrepreneur with the necessary tools to preempt the
continuous changes happening around. The process is
comprised of three elemental stages: innovation,
quantification and orchestration. The business development program requires the following
aspects to be defined:
Your Primary Aim. The owners primary aim should center
on what he really wishes, needs and wants for his life.
Defining this will push the owner to pursue his defined
entrepreneurial dreams. Your Strategic Objectives. This contains standards that help the owner achieve his
goals