Buffini & Company Blog

The E-Myth Revisited – an Interview with Michael E. Gerber

Many small businesses needlessly fail in this country every year. I recently interviewed bestselling author Michael E. Gerber about how this outcome can be prevented. A small business guru who has impacted the lives of millions of entrepreneurs worldwide for over 40 years, Michael outlined what he calls the Eightfold Path – a series of eight consecutive steps that every small business owner must undertake in order to build a long-lasting and successful enterprise.

Your Dream

In the beginning, you have to fuel your company with a Dream. A Dream is the result you intend to produce by forming your Company of One and then growing it. It’s about the market you intend to serve. For example, at the outset of Michael E. Gerber Companies in 1977, Michael’s Dream was to transform the state of small business worldwide.

Your Vision

Your Vision is the form your new company will take in order to realize its Dream. Michael’s Vision was to create the McDonald’s of small business consulting.

Your Purpose

Your Purpose is the profound impact your company intends to have on your most important customers. Michael’s Purpose was to enable every small business owner to become as successful in their business as a McDonald’s franchisee.

Your Mission

Your Mission is to invent an effective Operating System at the heart of your growing enterprise.

Your Job

Your job is to work on your Company of One to create your Client Fulfillment System. This is what you deliver to your customers.

Your Practice

Once your Client Fulfillment System is documented and scalable, you must start attracting and securing new clients to deliver it to. This is your Client Acquisition System, Your Practice. See it as your Three-Legged Stool: Lead Generation. Lead Conversion. Client Fulfillment. This is Your Franchise Prototype and The Core Operating System of your ready-to-scale growing company.

Your Business

Your business is a Practice times seven. Seven Three Legged Stools, plus a Turn-key Management System!

Your Enterprise

Your Enterprise is a Business times seven. That equals 49 Three Legged Stools, plus a Turn-key Management System plus a Turn-key Leadership System!

In order to grow a small company, you need passion, determination and a process. To learn more about the Eightfold Path, listen to the latest episode of “The Brian Buffini Show. 

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

May 7, 2021

Help Your Clients Understand the Current Real Estate Market

As a real estate professional, it’s your job to help clients navigate this challenging market, which means helping them to understand the forces that are driving today’s dynamic.

May 4, 2021

The Art of Impossible – an Interview with Steven Kotler

I recently interviewed Steven Kotler, one of the world’s leading experts on human performance, to discover how to achieve flow and unlock peak performance. Here are some of the top takeaways.

April 30, 2021

Establishing Your Real Estate Video Strategy

Here are some ways you can use video to personalize client interactions, create more effective communication and build stronger relationships.

April 23, 2021

Is Your Brand Built to Last?

When it comes to real estate, your aim is to be the name that’s automatically associated with exceptional customer service.

April 20, 2021

Overcoming Adversity – an Interview with Dick Hoyt

Over 20 years ago, I had the privilege of interviewing trailblazing athlete Dick Hoyt, who recently passed away. Here are some highlights.

April 15, 2021

How to Succeed in the Current Real Estate Market

In a recent Facebook Live, I tackled some of the common issues facing today’s real estate professionals given the current hot market. Here are the top takeaways.