So, what can you do to learn this?
and sustain their business because they
have a path to follow… a clear, direct, tested
1) You must learn from someone who has and proven path that leads them right to the
done it for themselves. 2) More importantly, money without the risks and pitfalls that so
you must learn and adopt a process to many others fall into.
have that happen for you without all the
expensive and timeconsuming trial and Seems sorta obvious, right? Think of some
error that comes with creating a business franchises...McDonalds, for example, has a
without a path to follow. system that works. It works worldwide.
Follow their system and it’s almost a
Michael Gerber, author of “The E Myth,” guaranteed succeed.
stated that 1,000,000 people go into
business in the United States each year, Let me relate a story. Years ago, I invested
but within 5 years, 96% of them are out of in building a Holiday Inn, (funded using
business. I don’t know of anyone who has private money). We could have opened that
that intent, but that’s what happens. hotel and called it “Lou’s Motel”. That would
have saved us a ton of expense, but would it
They, like you, are attracted to creating a have been an uphill battle for us to find
business in hopes it will provide a good customers? You bet it would! Not only that,
living and retirement income too. But for we would have had to create our own
96% of them, that promise, or vision does reservations system, housekeeping training,
not come true and they lose the chance to accounting software, resources for supplies,
get freedom from the shackles of working and all the rest.
for someone else.
Instead, we opted to go with a known brand
Gerber goes on to say that those with the Holiday Inn. Now at the time, this was very
dream of entrepreneurship thought expensive; tens of thousands to use their
business worked one way when in actual name; multiple thousands for their training
fact successful businesses work in quite a and more for their software and 8% of every
different way… hence, the title of the book, dollar that came in, for the entire length of
“The E Myth.” He reports that when the the franchise agreement was theirs.
entrepreneur follows a different path, 75%
are still in business AFTER five years.
What he found is that those who enter
business with a franchise are able to build
So…You
Want to be a
Real Estate Investor…
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