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E Myth Revisited - For The Note Investor

E Myth Revisited - For The Note Investor

Michael E. Gerber

Michael E. Gerber Companies

Presented at NoteCon 2016

Transcript

Ron Happe: Welcome everybody. We are delighted to have a very very special guest: Michael Gerber is a true legend in an area of entrepreneurship. I was fortunate enough to meet Mr. Gerber in the early 80s in Santa Rosa, California, and for my business life, it was a life-changing event. I have given my children three books. Well, actually, the Bible was given to them by their godparents, but I have given them each two books: Atlas Shrugged, and the original E-Myth. Today, Mr. Gerber's book is The E-Myth Revisited, but back in the early 90s I think, The E-Myth was the book. I've bought virtually every book. I have, of course, The E-Myth for real estate investors, and I've given my son an E-Myth for attorneys. 

The insights that Mr. Gerber can give you into the operations of your business is unsurpassed by anybody. Inc. Magazine calls him "The world's number one small-business guru." The entrepreneurial and small-business thought leader who's impacted the lives of millions of individuals and hundreds of thousands of companies all over the world. Mr. Gerber's the author of the mega-bestseller The E-Myth Revisited, and five other E-Myth books concerning small business and entrepreneurialship. 

Today, he's on a new mission, and that is to bring economic development strength and capabilities to millions of people around the world by awakening the new entrepreneur within them. He believes that awakened entrepreneurs seek a path that has, at its core, a higher, more inspiring meaning than just making money, selling a product, or seizing market share. According to Mr. Gerber, a new entrepreneur is a trailblazer seeking to transform lives in all areas. From designing a small business, building it, launching it, and growing it, he's dedicated much of himself to helping others discover the means to create a new company or transform an old one, and while going to work on your business rather than in your business.

Welcome, Mr. Gerber. We are delighted you're here to share your insight and I know everybody is going to walk away excited about your energy and enthusiasm and trying to emulate you. If you could tell us if there's anything in that bio that you need to elaborate on or give us some insight on, please do so, and then we'll get into the heart of the matter.

Michael Gerber: Well, I think you covered it beautifully. What is true that since I started this enterprise, you might say this career of mine ... In my early 40s, I wasn't one of those who was an early entrepreneur who when I was a kid sold lemonade and when I was 14 I got another little business going on and when I was 26 ... All those stories that people tell, I was a born entrepreneur: I wasn't. I was just me, a wandering Jew doing it, doing it, doing it, finding my way, looking for what you might call the Holy Grail. Stuff just happens in life, for every single one of you. 

So as we understand that everything happens in life as it has for every single one of you, then the question became for me, "Then what?" So during all of this time that I was developing, you might say, this vision of my world, I studied. I studied the saxophone, and my saxophone teacher just beat me up unmercifully. He said, "I only teach people who want to become the very best saxophone players in the world, and in order to do that, you got to practice, practice, practice, practice. You got to practice what I tell you to practice, you got to practice how I tell you to practice, you got to practice how long I tell you to practice, and that's three hours a day, five days a week, and then you come up here to Hollywood to spend an hour with me, and that will be probably the most miserable hour you've spent all week long." So that's the way I got started, and it's at 11 years old.

So I studied the saxophone and then I studied how to sell encyclopedias, then I studied how to frame a house, then I studied how to ... And on and on and on and on. And as I was going through this process, I'm beginning to see that there are similarities between each and every single one of them. 

Until one day, I was visiting, on my way from learning how to frame a house, I was going to become a contractor, and so I was moving from southern California all the way up to northernmost California to Mendocino County, and on the way, I stopped by to visit my sister and my brother-in-law. My brother-in-law had started an advertising agency in Silicon Valley, based upon my conviction that that's exactly what he should do. And he said, "Okay, I'm going to go do it," and he did. And he started this small advertising agency.

As I was visiting with my brother-in-law and my sister, he, Ace, that's his name, asked me if I'd come visit with one of his clients, one of his advertising agency clients. And he said to me, because he doesn't know how to convert the leads we create into sales ... Now, I'm going to get onto real estate, trust me, but if we don't do this, none of you are going to be able to benefit from what I'm about to share with you. So I said, "Ace, I don't know anything about business, and I certainly don't know anything about high-tech," because those were the kind of clients he worked with there in Silicon Valley. And he said, "Michael, you know everything you need to know. All you got to do, just come visit with me and let's see what happens."

So I said, "Okay. Why not?" So I went with Ace to visit his client and his client looks at me and I look at his client, and Ace introduces us, and Ace says, "Look, I'm going to take off for about an hour. Why don't you two guys get to know each other, and I'll be back and pick Michael up when you're done." And with that, Ace leaves. I'm sitting there, looking at this guy I've never met to talk about a business I didn't know anything about, and the guy looks at me and he asks me the obvious question, "Michael, what do you know about my business?" The only answer I could give him was, "Nothing, Bob." His name was Bob. The answer was, "Nothing, Bob." You get the point. "Nothing, Bob." And he looked a little disgruntled. He's looking at his watch now; Ace is going to be gone for an hour and he's sitting in front of this jerk who doesn't know anything about his business, so how in the hell am I going to be of any help to him whatsoever?

So he says, "What do you know about our product?" I said, "Less than that, Bob. I don't know anything. But we got an hour to kill, so why don't we find out why Ace thought it would be important for me to be here." And that's how it started.

Ron Happe: Wow. From that beginning.

Michael Gerber: So I began that hour, the transformational hour, I think about it, because it was the beginning of all this. I began that transformational hour with a whole bunch of questions: Mainly, "What do you do? How do you do it? Why do you do it? What happens when you do it?" Et cetera. I'm trying to find out what's going on with Bob. As I began to ask those questions and as I began to get Bob's answers, I began to realize that I knew something that Bob didn't. I knew that selling was a system. I knew that because I learned that selling encyclopedias. Selling is a system. Bob didn't know that, and it was astonishing to me that here's a guy who owns a business and his single greatest problem, according to Ace, was he couldn't convert the leads that Ace's advertising was creating for him into sales. So you would think he would dig down deep to really get an understand of why that was the case. And what Bob didn't know, is that selling is a system.

As that began to happen, I came to the realization that Bob didn't know that business was a system. What else could it be but a system? In which each of the component parts of that system had to work cohesively, congruently as an aggregate to produce a singular result. I saw that Bob didn't know that either. Understand, I'm just a guy off the block. I'm a guy who learned that playing the saxophone is a system. Music is a system. Selling is a system. Framing a house is a system. Aggregating all of that into an outcome is a system, and I was astonished to discover that Bob didn't know that.

So Bob says to me, "So Michael, can you create a selling system for me?" And I said, "Sure, Bob." And Bob looks at me, says, "Well, why don't we do that?" So then Ace comes to pick me up and Ace says, "Well, how did it go?" And I said, "Well, terrific. I'm now consulting with Bob." And Ace is looking at me, he said, "What do you mean you're consulting with Bob? You're not a business consultant." I said, "Ace, that's what I told you before we came here. I'm consulting with Bob." "To do what?" "To write a selling system." "What do you mean, 'to create a selling system'? You don't know anything about his business. You don't know anything about his product." I said, "I don't have to. Ace, he knows about his product. All I got to figure out is about his customer. And if I can figure out about his customer, and to figure out how the two pieces come together, then I can create a selling system. He doesn't need sales engineers to sell. All he needs is somebody who can learn the system." That was the beginning of everything.

You got to understand, that was the beginning of everything. That was the beginning of all the books. By the way, it's not five books. It's now 29 books.

Ron Happe: Slight mistake on my part there. I think I-

Michael Gerber: That's my mistake. You probably got the old, old, old, old, old biography.

Ron Happe: Well, I think what I did was count the books on my bookshelf-

Michael Gerber: Oh, gee. Well then you need some more books.

Ron Happe: I guess I do. I'm 24 behind.

Michael Gerber: I tell you.

Ron Happe: But I'm going to learn all that today. After picking up on this, that there's a guy out here who's running a business and he may know how to place an ad, but he doesn't know how to sell, he can't help his clients sell, how did that expand? Where did that go from that insight that you had that, "Hey, I know something that I can ..." Your business today is absolutely worldwide. There had to be a revelation after Bob that, "Gosh, there's probably other people out there that need this, and every other kind of business even other than an advertising agency." What created that revelation, and how did you go on from there?

Michael Gerber: The revelation was really easy. It was easy because as I began to go to work on Bob's business, which really hadn't reached the level of being a business yet, so there's a misnomer when something says, "I'm in the real estate investment business." They may be in the "business of real estate investing," but they don't own a business in the way that I would define it.

Ron Happe: Good point. All right.

Michael Gerber: But as I began to realize that Bob's "business" was no different than anybody else's business, as I began to see the same problem existed in every single one of Ace's advertising clients, I began to realize there was an opportunity that of course, I never even realized before I started this process with Ace, that was really my true calling. It's extraordinary when you think about it. 

As just now turning 40 and all this time, as I say, this wandering Jew looking for the Holy Grail, looking for the Holy Grail, and it wasn't music, and it wasn't framing, and it wasn't selling encyclopedias, and it wasn't philosophy, and it wasn't religion, and it wasn't this, and it wasn't that, well what was it? The reality is if you look at the world, you realize that the entire world depends upon the economics of commerce. Saying this ... Obviously, everybody who's listening in right now, "Well, but of course it does." But you understand, as I began to become immersed in the operation of these companies, high-tech that they were, I began to realize that the economics didn't work, and the economics of those companies didn't work because there were no systems designed for those companies to work. Because there were no systems designed for those companies to work, I realized something truly essential was missing in every single one of those companies. The something that was truly missing in every single one of those companies was what we know to be an entrepreneur. Entrepreneurs create companies that work. Everybody else creates a job for themselves. 

So the fact of the matter is, all the real estate investors on the face of this earth are primarily what I've come to call technicians suffering from an entrepreneurial seizure, meaning, they go out on their own looking for real estate to invest in, to turn over, to do whatever they're going to do with it. Effectively, they don't think like entrepreneurs. Because they don't think like entrepreneurs, they don't work like entrepreneurs either. 

I had this extraordinary experience; you mentioned it: The E-Myth Real Estate Investor: Why Most Real Estate Investment Businesses Don't Work and What to do About It. I wrote this book with my co-authors Than Merrill and Paul Esajian, and Paul and Than wrote this book with me because the E-Myth, the point of view that I'm sharing with you and the folks who are listening in right now completely transformed their lives. They effectively were what I've just called technicians suffering from an entrepreneurial seizure; meaning, they're not working for somebody else, they're working for themselves, doing it, doing it, doing it, busy, busy, busy, busy. Yet they didn't have a clue how to organize an enterprise, as opposed to a job. Or let's say, a practice. Or let's say, a business. So I brought to them a picture of the world that was completely different than anything they had ever thought of before. In the process of applying that to real estate investment, they created an extraordinary enterprise called Fortune Builders. That extraordinary enterprise has grown miles beyond what most or any real estate investors will ever do, all because of the change of mind: The way they think about the business of real estate investment, not the work of a real estate investor. The minute that happened, "Boom." And it's extraordinary.

The good news is, it can happen to every single person listening right now to us in this conversation. All that began in that one meeting with Bob, and that sudden seeing, as I call it, that inspiration that came, that epiphany that came to me in that moment. Everything that I'd been doing up to that point in time was leading me to that moment in time, which was saying to me, "Michael, this is why you've been doing what you've been doing. You might've thought of yourself as a wandering Jew, but in reality, you're on a path just for this very moment." I'm saying to everybody's who's listening to us right now that in fact, this could be that very moment for each and every single one of you, where you discover something you'd never heard before.

Ron Happe: Is there a sign, or is there a road block that's evident that when a tech starts a business, again, "business" in quotes, and buys himself a job, let's say, that he recognizes that "I am stuck where I'm at and if I want to go farther, I need to find out how to build systems"? Is there an epiphany that takes place or is it somebody has to tell him?

Michael Gerber: No, no. Well, it comes however it comes. Meaning, you met me way back then in the 80s and you said you had an epiphany. Such an epiphany, so important to you that what you've said, "Have given three books to my children. Well, I didn't give them three books, their godparents gave them the first one, the Bible. I gave them the other two."

Ron Happe: Right.

Michael Gerber: Well, I'm honored to be here to respond to that, that I wrote one of those books. That's an amazing thing. It's happened upon millions upon millions of times. It's an amazing thing. That was a gift given to me to enable me to see something that I could share with you. The energy that accompanies is it is simply the life force that captured me in that moment when I saw the truth about Bob's business, that it wasn't a business; it was a job for Bob and a handful of people, as I say, doing it, doing it, doing it, busy, busy, busy, busy. And he didn't have a clue that there was a completely different way to approach it. I have Bob a completely different way to approach it. I had an epiphany. I had a moment of seeing and I was able to communicate it to Bob, so I'm sharing it with you right now, that in fact, in that moment that I saw that, the entire span of that appeared to me. 

This has got to be true for everyone who starts a small business on their own, no matter what they do, whether they're a high-tech company or a low-tech company. The minute one sees this, the minute one steps out of what they do, rises above what they do, transcends what they do, whether that be real estate investment or graphic design or auto repair, it doesn't make any difference what the job is. You understand. The difference is the way we approach it. Until we can see it from like 3,000 miles above, to see it as an entire system, until we can do that, we can't successfully improve what it is we do.

We set out on a path to create a company to do that. Not Ace and I; I left Ace. Ace, in fact, stopped being in the advertising business; he went out to do something completely different, because he came face-to-face with the reality that in fact, if he was unwilling to do what I was teaching his clients to do, then effectively he would find himself in exactly the same position as all of his clients were: Again, doing it, doing it, doing it, busy, busy, busy, and not going anywhere. Where are we all going? Where we're all going is to the exit strategy.

When I start with any client, started then with any client, the question is, "So what do you want this to be when it's finally done?" I'm saying to every real estate investor, "So what do you want this to be when it's finally done?" When I asked that question of Than Merrill, his answer was really quite consistent with the answers of every real estate investor: "I don't know. I hadn't thought about it."

Ron Happe: That's probably true-

Michael Gerber: "I don't know. I haven't thought about it." Well, let's think about it. Suddenly, we're engaged in a really important question. The minute you begin to ask that question, "What do I want it to be when it's finally done?" You're then driven to ask the really important question: "Well, what do I want my life to look like when it's finally done?" You got to be really, really, really careful when you ask that question, because just like you have no clue what you want your company to look like when it's finally done, I can absolutely guarantee you, you don't know what you want your life to look like when it's finally done. I mean, finally done. I mean crap-out date. You understand? I mean, "Woops." So if you don't know what you want your life to look like when it's finally done, there's no way in the world you can possibly answer the question, "What do I want my company to look like when it's finally done?" As we begin to ask those questions, we begin to shape the end game. The minute we begin to do that, shape the end game, something truly spectacular happens.

We start always with every new client. I'm focusing our attention not on what's missing in this picture, not what's going wrong, not how to fix this, not how to fix that, not how to fix a broken business, but how to approach it in a completely new way. It's been the most impact-

Ron Happe: I've been through your programs; I've been through several of them. That part of it, that beginning part of it, that is hard. That part of it, identifying your mission and identifying what you want your life to look like, is more difficult than putting the systems together to run the business. Everybody needs to do that, whether they put any systems together or not. That initial stage of identifying who you are and what the end game and what the exit strategy is in your life, that's hard work.

Michael Gerber: It is. And it's the most liberating work. We've created a method, just like we've done with anything, created a method to do that. We call it The Dreaming Room. The Dreaming Room says that while we know that you as an "business owner," I still say in quotes because most people who think they are aren't. Most "businesses" aren't really businesses, and I'll tell you what I mean by that in a moment. But we created a Dreaming Room to identify the four very clear personalities of an entrepreneur, because what the job is really is to awaken the entrepreneur within. To do what? To achieve the end game that you're setting out to achieve. 

The entrepreneur's the creator, the imagineer, as Walt Disney calls him. The entrepreneur is the one who creates what one is to become, unless it's the technician. The technician is the producer, the doer, doer, doer, doer, doer and we all know about that guy, because we all live with that guy. Got something to do, got something to do, got something to do, got something to do, and we're all busy doing it, doing it, doing it, doing it, and nobody really is spending any time really rising above all that to shape what is done, not what I'm here to do. Big big big difference. To shape what is done, not shape what I'm here to do. What I'm here to do is awaken the entrepreneur within. 

The dreamer, the thinker, the storyteller, the leader. The dreamer has a dream; the thinker has a vision; the storyteller has a purpose; and the leader has a mission. Those four personalities live right there inside of you, misunderstood, misutilized; in most cases, not utilized at all because we're so busy doing it, doing it, doing it, doing it as a technician, we have no ability to see the whole. But as that begins to happen, as we begin to develop the ability to see the whole, something staggering occurs. It happened with Bob, it happens with Judy, with Jerry, with Jim, with Sarah, the woman I wrote about in the E-Myth revisited. It happens again and again and again. "Oh my goodness, how come I didn't see that before?" So that's what this is all about: "Oh my goodness, how come I didn't see that before?"

I would invite everybody listening to us to join us in The Dreaming Room and the very simplest way to do that is to acquire the course. The course is beyond the E-Myth, and that's my next book. It'll be out in December. That's a book you got to get; it's called Beyond the E-Myth: The Evolution of an Enterprise from a Company of One to a Company of 1,000. I've created a video introduction to that which I call The Course, which is the first step to understand how you do what I just described: Go from a dream to a vision to a purpose to a mission to create your client fulfillment system, to create your client acquisition system, to create your management system, and your leadership system; to grow from a job to an enterprise. I'm saying, in your industry, everybody can do it. Anybody who sets their mind to it can do it.

Ron Happe: A word you just said again, "Job," brought a question to my mind. I know that the people behind the founders of InfusionSoft who we're clients of, we use their product, are big E-Myth Michael Gerber supporters. Their success story is phenomenal, and they attribute much much much of it to you, but if you take a look at people like Steve Jobs, Bill Gates, Apple, Microsoft, and EnvisionSoft, those people were all, I'm going to assume, very good technicians but what really got them into a position that made them what they are: Apple, the most valuable company in the world; EnvisionSoft, I don't know. They have thousands and thousands of subscribers now. Is there anything inherent in a personality? Or is this something that if anybody, if people are taught to put your systems together to formulate that dream, can do? Do many of us have a piece missing?

Michael Gerber: The inspiration comes almost invariably from the outside. You might say the inspiration comes from the outside as it comes as well from the inside. You said something about, "They were great technicians," meaning Steve Jobs. Meaning Bill Gates. Meaning and on and on and on and on. The reality was they weren't. In fact, they weren't great technicians at all. Steve Jobs was a lousy technician. Had Steve Jobs not surrounded himself with great technicians, Apple never would've happened. 

So understand, I'm a lousy technician. I'm doing it, doing it, doing it, doing it, I'm talking to you. What does a technician do? Technician talks, technician works, technician ... I'm a lousy technician. In fact, I don't want to do the work. I want to create a way to get the result done. So, I want to create something. I want to create something and the technician believes the way to create something is create something that I do better than anybody else. But you understand, Walt Disney didn't want to create something that he did better than anybody else. He wanted to create something that it did better than anything else; it being his creation. It being Disney. It not being Walt. It not being Steve Jobs; it being Apple. So the distinction between the entrepreneurial imagination and the technician's imagination is a sense of scale.

So I'm saying to every guy out there who "Wants to become a better real estate investor, wants to become more successful at real estate investment," has got to step back for a moment and understand that when Than Merrill wrote in his book with me, The E-Myth Real Estate Investor, what Than Merrill said is that, "This book will not teach you the mechanics of how to do real estate deals. This book will not teach you everything you need to know about how to analyze a deal. This book will not teach you how to creatively finance a deal. This book will not teach you how to raise private money, how to negotiate a purchase and sale agreement, or how to estimate the repair costs of a property." If the book isn't going to tell me that, what's the book worth? 

Well, he goes on to tell you what the book's worth: "These are all very important aspects of the real estate investment business that you got to learn and master if you expect to be successful. However, this book is about something much more important than the mechanics of doing real estate. This book is about the philosophy of how a successful business is built, and ultimately, it will change the way you think about your own business." I go beyond that, that's in Than Merrill's words, who has effectively "Done" the E-Myth, Gerberized his business to become an enterprise. 

Understand that most guys talking to us right now got a job. They call it a business, but really it's a job because if they were not to do it, they're out of business. Or they've got a practice. A job is the client fulfillment system. A practice is the client acquisition system plus a client fulfillment system. The practice is really the franchise prototype. So we've taught millions of people how to think about their company like a franchise. If you were to think about your company like a franchise, you'd understand that it's a three-legged stool: Lead generation, lead conversion, client fulfillment. Lead generation system, lead conversion system, client fulfillment system. Lead generation, lead conversion, and you see the three-legged stool just standing just like that, solid, solid, solid, that you're now ready to replicate. 

And this is the point: The minute you've created your franchise prototype, your real estate investment franchise prototype, whatever it does, however it does it, whatever market you're in, however you're in that market, you suddenly see you have the power to scale. And that means you can open your doors in every city in the universe, just like McDonald's did. Holy Moly. Are you kidding me? Yeah, you can do that. Anybody can do that once they understand the point of view. That's all I'm sharing here with you right now. It's a point of view. It's a paradigm. It's a way of thinking that completely transforms what everybody does. 

And that's what the InfusionSoft guys did. The InfusionSoft guys, five of them, the founders of the company plus a few of their chief guys came to The Dreaming Room, spent two and a half days with me. I did what my saxophone teacher did; I beat the living hell out of them. There were 60 people in that meeting. They came in and they didn't know why they were there, or what they were going to do there. When they left there, InfusionSoft, the company that it is today was born. And that's what they attribute to me. They said, "Holy Moly. We came to Gerber to figure out how to be better at what we did and we walked out understand that what we did wasn't what we're here to do. What we're here to do is to grow an enterprise, unlike anything we ever imagined we could do. That's what they've done now with 30,000 plus clients around the world. Think about that. This great, growing company; from a company of one to a company of 1,000 is the perfect example of InfusionSoft. Everybody can do that, but you got to take the first step.

Ron Happe: I want everybody to know that there is a button going to be on the screen to go right to Mr. Gerber's website, so let's spend a few minutes just talking about what they would find and what kind of training is available through your company and how they would go about starting at the bottom or somewhere in between if they feel they've got some kind of knowledge about what you do. So let's spend a little time talking about your company and how they can get involved.

Michael Gerber: I've made it very very easy for them. The very first decision they need to make right now is to simply say, "Yes," and buy what I call The Course. The Course is a three and a half hour video with me, taking them through the process from the dream to the vision to the purpose to the mission; the job, the practice, the business, the enterprise. Watch The Course. It's a $295 investment. That's the first thing they need to do. Why do they need to do that? So they can completely relate to the process that InfusionSoft went into, that every great company goes into, that Apple went into, that Disney went into, that Microsoft went into, that Mrs. Fields' Cookies went into, that Subway Sandwiches went into, that anybody who's going to grow, grow, grow, grow goes into. Think of yourself like McDonald's. Acquire The Course, watch it. Then I'll invite you to join us in the program. The program will walk you step by step through it, so that you're going to be able to do it as a real estate investment company. Every single one of you. A $295 investment to get in the door, and secondly, the program to continue it.

The program is very very simple. It's $995 a month, one-on-one with your own master Gerber facilitator, who's going to take you through the process of applying the job, the practice, the business, the enterprise. The dream, the vision, the purpose, and the mission, to what you do. And then you're going to begin to understand better, "So that's how they all built this great thing." That's what you get to do; it's that simple. 

So all you got to do is click on our website, or come to Michael Gerber personally, and you can do that at Michael, M-I-C-H-A-E-L @ michaelegerber.com. Hard to figure out. Michael@michaelegerber.com, and I'll send you the link to get The Course.

Ron Happe: That program, I did participate in, and that's where my coach made me very uncomfortable. Coming up with your purpose, your mission, your exit, what you want your life to be when it ends. That's a real challenge and uncomfortable, but extremely enlightening. It kind of makes you design your company with a whole different attitude. I also did, prior to that, several years ago Embark, which was web-based. That was also good. But I think the one-on-one coach kind of forces you to do it, because you know you're going to have to talk to him next week again. Not real tolerant of a lot of excuse. 

I do want to do tell everybody that I don't think I've done anything in my business career that spans over 40 years that has been more important to my business success, what little I've had, than getting involved with Mr. Gerber's products and E-Myth. There's just no way to measure the results, because you don't know where you would be had you not done this. You probably would be out of business. I've built a number of businesses and I've built them based upon E-Myth. 

I want everybody to know that anybody that signs up for the all-access pass to this gets a free autographed copy of The E-Myth Revisited, by Michael Gerber. They are autographed and I recommend his program to everybody. I know there's a lot of people on here that have other businesses and invest in real estate and real estate financial instruments as investors only and are not running a business that way. Believe me, this is super for your business that you're involved in, and it will help your investing, because all of a sudden your investing becomes a business. 

Mr. Gerber, is there any other points that you feel that we need to address in this conversation? If so, you've got the floor.

Michael Gerber: It's really really very simple. I think I've probably already said it. If you're driven to grow beyond where you are, if you've truly tried just about everything, if you have come to the understand that in fact, most often you spend your time, what I say, over and over and over again doing it, doing it, doing it, doing it, busy, busy, busy, busy, then it's time for relief. It's time for new insight. That insight is provided by the work that we do in a way that's never been provided by the work anyone else has done in this world. That might sound arrogant, but it's not. It's just true.

I've heard this tale, I've heard this story, I've received these thanks from so many people, just as we have here. Millions of them. And it's just extraordinary to know that our legacy is deeply embedded in the economy, but our determination is too embedded even more.

Ron Happe: You've done an outstanding job, and believe me, to see an 80-year old with the energy and enthusiasm that you still have makes me want to continue to work for the rest of my life. Really, the accomplishments that one can achieve when they utilize your tools are amazing. 

I want to thank you, I want to thank you for your books, and I hope to see you soon.

Michael Gerber: Wonderful. Ditto.

Ron Happe: Thank you.

Michael Gerber: Take care, bye bye.

Ron Happe: Bye.

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