The E-Myth Revisited challenges the common assumption that most businesses are started by entrepreneurs. Instead, Gerber argues that most businesses are started by technicians who understand the technical work but not the business itself. The book introduces the concept of the E-Myth and explains that successful business owners must balance three roles: the Entrepreneur (the visionary), the Manager (the planner and organizer), and the Technician (the one who performs the technical work). Gerber emphasizes the distinction between working 'in' your business and working 'on' your business, and he provides strategies for systemizing and scaling businesses, including the concept of the Franchise Prototype.
Join Matt and Breakthrough Academy (BTA) co-founder Igor Trninic in a conversation about financial management and the consequences of being financially disorganized in the construction industry. BTA is not only part of The Build Show Expert team, but also a company that helps contractors streamline their operations and achieve financial stability. They delve into three main consequences of poor financial management: having to let go of valuable employees due to financial instability, being surprised by poor financial performance at year-end, and unknowingly working on unprofitable projects.
Igor shares his background, highlighting his early experiences with financial mismanagement and the lessons he learned. He emphasizes the importance of annual budgeting and monthly financial reviews to keep a business on track. They also discuss the significance of understanding gross profit margins by job type to ensure profitability. Igor provides insights into how BTA assists contractors in systematizing their businesses through a structured program that includes pre-produced content, biweekly coaching, and a supportive community of contractors. If you want to start getting control of your finances, download BTA's Budget Tool, free for BuildShow listeners. https://trybta.com/BSN-Financial.
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