Successful Internet Business Building

Here is a SUMMARY* of the highly recommended book (Fortune, Success Mag., T. Ferris, etc.)
'The E-Myth Revisited - Why Most Small Businesses Don't Work and What to Do About It' by Michael Gerber for you.

The basic concepts and principles developed by M. Gerber's company E-Myth Worldwide and described in the book are:

1. Every year over 1 million people start a business of some sort and statistics tell us that by the end of year ten over 90% of these small companies have failed. (These statistics are from the States but I doubt very much that the horrific failure rate is much different in any other country!)

2. Most businesses are started by so called 'technicians', people who are skilled at what they enjoy doing. Technicians assume that they understand how a business works but most of the times they don't.

3. Building a business, according to Michael Gerber, takes three skill sets: (1) The entrepreneur, (2) The manager, (3) The technician.

4. Businesses generally go through 3 phases of growth:
            - Infancy - When the technician is required mostly
            - Expansion - when better management skills are required.
            - Maturity - when an entrepreneurial perspective is needed

The business that is built and managed by someone who combines the approach of the three roles will have a far greater chance of survival and success than the one guided by someone thinking like a technician alone.

Michael Gerber's main idea to save (small) businesses from going under is that you should view your operation
as the prototype for a franchise business or a turn-key solution. The main challenge in doing so he sees in maximizing the amount of time you spend working ON your business rather than IN your business.

Michael Gerber has been a consultant for small companies for many years and his company E-Myth Worldwide has put together a business development process by which a successful franchise prototype can be built in seven distinct steps and a foundation of three key activities.

See a summary of 'E-Myth Revisited - Why Most Small Businesses Don't Work and What to Do About It.'
[Click the link above.]

Notes:

- If you would like to improve your business building skill make sure you visit www.e-myth.com to sign up for their newsletter (You will also get their free e-book "Working On It, Not In It: The four Secrets to Successful Entrepreneurship").
- The summary comes courtesy of www.summaries.com and is great time saver.
- If you intend to buy the book this direct Amazon affiliate link below will save you time.

P.S. If you would like to get great tips & feedback for your specific business, here is the link to a brand new Forum "Successful Internet Business" to discuss some of the challenges and advantages building a business online.