Masters of Business with Michael E. Gerber
masters of business with michael E. gerber
What mindset shift is essential to become an entrepreneur?
99 percent of all businesses are started by a technician experiencing what I call an "entrepreneurial seizure." This person wants to go out on their own, mainly to get rid of their boss and make more money. However, they often lack the understanding that a true entrepreneur is driven by the desire to create, not just to escape.
Why must entrepreneurs embrace their full creative potential?
True entrepreneurs must rise to the level of Imagineer. If they don’t, they won’t achieve what they’re truly capable of, and that leads to dissatisfaction. Many small business owners say, "Yeah, but I’m happy. Yeah, but I’m satisfied." No, you’re not. If you were born in the image of God, as it says in Genesis, you were born to create. And if you were born to create, it’s no surprise you feel dissatisfied—you haven’t embraced that creative potential fully.
How can business owners work toward achieving their goals?
Ray Kroc didn’t work in the first McDonald's in Des Plaines, Illinois. He opened two offices: one for the store and one for the corporate office. Kroc worked in the corporate office, focusing on the store but also working on himself to become the ideal entrepreneur. Personal development, whether from Tony Robbins or anyone else, is essentially the same idea I emphasize—working on, not in, your life. You need to work on your life to create it, to achieve your dream, vision, purpose, and mission.
What is the key to achieving significant business growth over time?
There is a way to achieve growth, and I’ve spent the last 50 years pursuing the answer to that question: How does one get there? To address this, I developed what I call the Eightfold Path. This path is a process that takes a company from one person, where most businesses start, to a company of 1,000. It begins with a dream. The first step on the Eightfold Path is having a dream, a vision, a purpose, a mission—a foundation for a job, practice, business, or enterprise. It’s the evolution from a company of one to a company of one thousand, and I can guide anyone through that journey.
*This interview has been edited and condensed for clarity.*
