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SHIV DIXIT

CHAIRMAN - BITEX IND...ย โ€ขย 8m

๐Ÿ“– DAILY BOOK SUMMARIES ๐Ÿ“– ๐Ÿš€ 12 Lessons from ๐Ÿ‘‰ ๐Ÿ”ฅ The E-Myth Revisited : why fail ๐Ÿ”ฅ โœจ By Michel Gerber โœจ 1. E-Myth Defined โ€ข The "Entrepreneurial Myth" is the belief that all small business owners are natural entrepreneurs. โ€ข Most business owners start due to technical skills, not entrepreneurial ones. 2. Three Roles in Business โ€ข Entrepreneur: Visionary, looking for growth opportunities. โ€ข Manager: Organizer, ensures systems run smoothly. โ€ข Technician: Skilled worker, focuses on day-to-day tasks. โ€ข Many small businesses fail because owners focus too much on the Technician role. 3. Work On Your Business, Not In It โ€ข Owners should create systems and processes to ensure the business runs without their constant involvement. โ€ข Delegate tasks and focus on scaling and growth. 4. The Turn-Key Revolution โ€ข Model your business like a franchise with standardized operations. โ€ข Create a business that can run independently and consistently produce results. 5. The Business Development Process โ€ข Innovation: Find ways to make your business unique. โ€ข Quantification: Measure everything to improve efficiency. โ€ข Orchestration: Create systems that ensure consistent delivery of products/services. 6. The Franchise Prototype โ€ข Build your business as if youโ€™re going to franchise it. Every aspect should be replicable. 7. The Life Cycle of a Business โ€ข Infancy: Owner does everything. โ€ข Adolescence: Growing pains; time to delegate tasks. โ€ข Maturity: A well-structured business that operates independently. 8. Conclusion โ€ข Success comes from systematizing your business and stepping away from daily technical work to focus on growth 9. Entrepreneurial Seizure โ€ข This is the moment when a technician decides to start their own business, mistakenly believing that knowing the technical work (e.g., being a good baker) means they can run a business (e.g., a bakery). 10. Systems vs. People โ€ข A successful business depends more on well-defined systems than individual people. Systems allow for consistency, even when employees change. 11. The Customer Experience โ€ข Every part of the business should be designed with the customer in mind. Create a predictable, positive experience for customers at every touchpoint. 12. Continuous Improvement โ€ข Constantly review and improve the business processes. Even established systems need regular updates to stay relevant and efficient. ๐Ÿ”— You can download whole book freely from comment section ๐Ÿ”—

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