Hello Friends, Rahul was a great chef,he was fond of cooking his made food or dishes was liked by many hence his dream was to become a huge chef to fulfil his dream, he thought to work as a chef first while searching for jobs, he got an awesome opportunity to give an interview to world’s biggest franchise Mac donald he was immediately selected after an interview Rahul never eaten a single thing from mac donald so for the first time he order a burger he thought price is high for such a small burger and after eating that burger he felt more bad, because he didn’t like the taste as well compare to price while eating, he started thinking that he can make better burger compare to this big restaurant burgers, and that too with high profit margin then why not i should sell my own burgers instead of working here, with this thinking, he took a big decision and didn’t joined mc donald and started his own restaurant with the help of a loan at first the biggest difficulty which he faced was less customers even after having such an awesome burger with high quality and less price people were not aware about his restaurant at that time he came to know how important and useful marketing is,hence he increased his hard work and efforts and started doing marketing by himself, in various social media sites with various offers doing marketing for few months, finally more people started coming to his restaurant. but as more people started coming to his restaurant again new problem arises, handling everything single handedly become very difficult for rahul like handling money, making burgers, doing cleanliness etc become very difficult so finally after analysing and understanding everything about profit expenses he hired another person for his help or support he thought that doing this can be the best step and everything will be smooth and perfect but instead of things becoming simple it became more complicated the person whom Rahul hired was very lazy and even after teaching him everything with lot of efforts and hard work, he was very bad at his work, he used to make and serve bad burgers to customer and also was not at all good in maintaining cleanliness Rahul was busy handling counter,customer, marketing and various other work hence he wasn’t able to give attention to that employee as a result of this, customer started complaining to Rahul about low quality burgers and not proper hygiene and after understanding everything Rahul fired that employee and again started handling everything by himself after some time he again realised that he can’t handle everything by his own so again he hired another person for his support fortunately that employee was good, after few months rahul realised that both of them rahul and his employee wasn’t able to handle things properly so he hired another person but after doing so much his profit margin was declining he wasn’t able to handle employees salary, rent and other expenses hence instead of earning profit he started getting into loss and lot of debts which finally made him shut down his Restaurant. Similarly various other problem arises at the time of creating or building a successful business because of which most of the businesses fails. in fact as per a research even after having so much of information and knowledge, 8 out of 10 businesses shuts down that too just in the starting of 18 months, and this failure happen because of various reasons, myth and misunderstandings the very first myth is if you understand business technical things then you can make that business work which isn’t true at all, Because the fact is, there is a major difference between Running a business and to be a good technician author says to make any business successful an owner must have three qualities or a business must have three people 1st An Entrepreneur, 2nd A Manager And 3rd A Technician An Entrepreneur is some one who gives vision to a company and decides a goal, makes plan and think about company’s Future and always make company or company’s people energetic and full charged all these things are very important for sales, Entrepreneur basically thinks and focus on company’s future. 2nd Manager is a Quality or a person who runs business in proper order manages employee and customers and takes the responsibility to manage everything in proper order because of which company get consistent and effective outcome a manager or manager’s quality understands company past and as per takes actions. And Last Quality or person is Technician, a technician is someone who handles the most important work example, In Rahul’s Business Burger Making was a technician’s work suppose if there is an app developing company so the person who will do coding and develop app, that person will be the Technician etc Rahul knew how to make good burgers at lesser price, so this quality in him was good, but the misunderstanding which rahul had, like knowing how to make burgers, means technician quality is good hence running a business would be a easy task There is a huge difference between making and selling Hence to create a successful business , its really important to have an Entrepreneur, a manager and technician quality at least or a business must have an owner who have all three qualities in them just like rahul, these qualities are not seen in many people Just like Rahul, many people make the same mistake they feel technician skill is the only and the most important thing. If we talk as per percentage, then most of the owners failure will be seen like 70 percent Technician 20 percent manager quality and only 10 percent Entrepreneur quality, instead for big success this no. of percentage should be 33 percentage for all three. now another important thing you must understand very carefully for big successes is 3 phase of business Business able to become big due to three phases, the first stage amongst three is INFACY STAGE Most of the business starts with this stage only where everything works as per owners plan and permission, nor as per what will be beneficial for business in this stage usually owner do most of the work by himself, example, when rahul started a business at that time, he was the only manager, technician and entrepreneur and this how most of the people work. and if everything goes well then comes the second stage, Adolescenes stage this stage comes when business starts growing and when owner understands that working single handedly is not possible, hence owner hire other people or make partners to grow business example, when rahul hired one person, he was in this stage. everything was good till this stage problem started after this, because usually people get three outcome after reaching this stage first: back to stage one when owner starts giving his work to others at that time they usually had to come out from their comfort zone, the work they feel only they can do nicely they have to give to others most of the people can’t handle it or can’t take it and many a times people don’t like the outcome of it, hence they come to previous stage that is to stage 1 again, and start working single handedly again which isn’t a nice option second outcome: when company starts growing fast or rapidly, because of this growth owner and employees can’t handle things properly and things become out of control which eventually make business fall. and last 3rd Outcome, where entire business becomes the big or huge war where they used to work daily by putting lot more efforts to make it stable, because of which they doesn’t enjoy anything and not even able to bring their business to the next level. all three outcomes doesn’t grow any business, hence till the time such outcome comes, business can never reach to the 3rd level which is Maturity Lvel Maturity Level is the Ultimate level for any business, where every big business or company reaches if you want to create Multi-millionaire or billionaire company then you have to bring your business to this level and to bring your business to this Maturity level you have to follow some points such as, No.1) Think as a Franchise Mostly when people start as aTechnician business, they think for short term and start their business, they usually don’t have any idea where exactly they want to take their business after 2 to 3 years they only think about maximum customers through which they can earn lot of money which doesn’t allow them to grow,hence if you want to create a big business then you must think since start how you can make your business into franchise you must think your business as Franchise Prototype which can easily scale in your future No.2) system Dependent Mc Donald didn’t become famous and so big because it makes an awesome and tasty burgers instead they have made their system so simple and easy so that even a college student or any person without any experience can work and can maintain their store and there is no need of an expert or smart intelligent people always in Mc donald this is the best outcome of creating such an awesome system which is really very important for creating a Franchise The biggest mistake created by many people at the start of buisness is that they make their business People Dependent instead of making is System Dependent, meaning their business totally depends on some special and loyal people example when business reaches to infacy stage, at that time owner was the special person on whom entire things get dependent, if owner stop’s working entire business will stop, at adolescene stage their partners or employees become those special people now many people world think that making system at start isn’t possible so for this author says, business becomes big because they understand that having a system at any stage is really very important, Mc Donald created system from very start and then they able to create such business which can get scale easily hence even you must start thinking from the start and should try for making your business as a franchise model like system dependent, yes you need to be dependent on some people but aim to make your business system dependent not people dependent No.3) Work on business If you make your business dependent on you, then you are not creating a business but you are creating a job Reason behind starting a business is to create a good lifestyle for yourself not to create a difficult job on which you spend your entire life hence the biggest core principle from this book is you should not work in the business But ON THE BUSINESS Meaning with the help of system by documenting things, start creating step by step process Do not get into the business and keep on working without any thinking or understanding Do create a business model which gives consistent predictable excellent out put without getting dependent on you on any person These were some principles from the very awesome book Emyth Revisited by michael gerber, if you have any interest in creating a business or developing your business then you must read this book, this is one of the best book in business category if you want to buy this book then go to the below description link and if you want free audio book of this book then can take it through audible by going my seeken.in website, link i have given in the below decription and if you never want to miss any of my new videos the do subscribe and click on the bell icon and do select sent all notification option only then 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