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The E-Myth Revisited Book by Michael Gerber: Why Most Small Business Don’t Work and What to Do about It

I came across the book “E-Myth Revisited” by Michael Gerber some years back in a bookshop while shopping for books to add to my library. I was instantly attracted by the title and after scanning through the table of contents, I bought it.

It has been years now since I bought the book “E-myth Revisited” but the truth is that I read this book every once in a while because the business lessons contained in it is priceless, timeless and valuable. I am going to share some of the priceless lessons of this book with you. All you have to do is sit back and digest the lessons.

There is a myth in this country – I call it the ‘E-myth’ – which says that small businesses are started by entrepreneurs risking capital to make a profit. This is simply not so. The real reasons people started businesses have little to do with entrepreneurship. In fact, this belief in the entrepreneurial myth is the most important factor in the devastating rate of small business failure today. Understanding the E-Myth and applying that understanding to the creation and development of a small business, can be the secret to any business success.” – The E-Myth Revisited

 The E-Myth Revisited Book by Michael Gerber: Why Most Small Business Don’t Work And What to Do About It

Table of Contents

  • Acknowledgements
  • Foreword
  • Introduction

Part I: The E-Myth and American Small Business

  • Chapter 1.  The Entrepreneurial Myth
  • Chapter 2.  The Entrepreneur, the Manager and the Technician
  • Chapter 3.  Infancy: The Technician’s Phase
  • Chapter 4.  Adolescence: Getting Some Help
  • Chapter 5.  Beyond the Comfort Zone
  • Chapter 6.  Maturity and the Entrepreneurial Perspective

Part II:  The Turn Key Revolution: A New View Of Business

  • Chapter 7.  The Turn Key Revolution
  • Chapter 8.  The Franchise Prototype
  • Chapter 9.  Working On Your Business, Not In It

Part III:  Building a Small Business That Works

  • Chapter 10.  The Business Development Process
  • Chapter 11.  Your Business Development Program
  • Chapter 12.  Your Primary Aim
  • Chapter 13.  Your Strategic Objective
  • Chapter 14.  Your Organizational Strategy
  • Chapter 15.  Your Management Strategy
  • Chapter 16.  Your People Strategy
  • Chapter 17.  Your Marketing Strategy
  • Chapter 18.  Your Systems Strategy
  • Chapter 19.  A Letter to Sarah
  • Epilogue:  Bringing the Dream Back to American Small Business
  • Afterword:  Taking the First Step

 The E-Myth Revisited Book by Michael Gerber: Why Most Small Business Don’t Work And What to Do About It

An Excerpt From the book “E-Myth Revisited

The Entrepreneurial Seizure

To understand the E-Myth and the misunderstanding at its core, let’s take a closer look at the person who goes into business. Not after he goes into business, but before.

For that matter, where were you before you started your business? And, if you are thinking about going into business, where are you now? Well, if you are like most of the people I have known, you were working for somebody else.

What were you doing? Probably technical work; like almost everybody who goes into business. You were a carpenter, a mechanic or a machinist. You were a book keeper or a poodle clipper. A draftsman or a hair dresser. A barber or a computer programmer; a doctor or a technical writer; a graphic artist or an accountant; an interior or a plumber or a sales person. But whatever you were, you were doing technical work. And you were probably damn good at it. But you were doing it for somebody else.

Then, one day, for no apparent reason, something happened. It might have been the weather, a birthday or your child’s graduation from high school. It might have been the paycheck you received on Friday afternoon, or a sideways glance from the boss that just didn’t sit right. It might have been the feeling that your boss didn’t really appreciate your contribution to the success of his business.

It could have been anything; it doesn’t matter what. But one day, for no apparent reason, you were suddenly stricken with an Entrepreneurial Seizure, and from that day on, your life was never to be the same again.

Inside your mind, it sounded something like this: “What am I doing this for? Why am I working for this guy? Hell, I know as much about this business as he does. If it weren’t for me, he wouldn’t have a business. Any dummy can run a business and I am here working for one.”

And the moment you paid attention to what you were saying and really took it to heart, your fate was sealed. The excitement of cutting the cord became your constant companion. The thought of independence followed you everywhere. The idea of being your own boss, doing your own thing and singing your own song became obsessively irresistible.

Once you are stricken with an entrepreneurial seizure, there was no relief. You couldn’t get rid of it. You had to start your own business.

The Fatal Assumption

In the throes of your Entrepreneurial Seizure, you fell victim to the most disastrous assumption anyone can make about going into business.

It is an assumption made by all technicians who go into business for themselves, one that charts the course of a business – from Grand Opening to Liquidation – the moment it is made.

  The E-Myth Revisited Book by Michael Gerber: Why Most Small Business Don’t Work And What to Do About It

3 Priceless Lessons I Grabbed From The Book “E-Myth Revisited.”

For the sake of time, I am going to share with you three, out of over 20 Business lessons I learned form the book “E-Myth Revisited.

Lesson One: Work On Your Business, Not In It.

This is one of the fundamental reasons why most businesses fail in their first five years. Most entrepreneurs see their business as a place to go to every morning. They see their business as a system of routine chores. They rush out everyday to work in their business, not realizing they need to work on their business. The end point of this lesson is this; most entrepreneurs end up creating a Job for themselves, not a Business. Are you Building a Business or Creating a Job for yourself?

Lesson Two: In Business, Little Things Make Big Difference.

If you are a business owner, you must have fallen guilty of running after the big things of business, not realizing that little things actually make those big differences. I learned from this book that little things such as color codes, dress codes, logos, symbols and sales approach can make very big difference on your business. You find out how these little things can make a big impact on your business by buying the book.

Lesson Three: Never Start A Business Without First Determining Your “Primary Aim.”

This is another ignored principle of business success. Just two simple words; “primary aim.” Have you ever pondered how these two words can affect your life and business? Starting a business without a Primary Aim is like jumping into a car without diesel or fuel. Without the Primary Aim, your business will not stand the test of time. Do you have a Primary Aim?

As a final note, I recommend this book “E-Myth Revisited” mostly to aspiring Entrepreneurs and Small Business Owners. This book contains Insider’s Business Secret you will never find anywhere else. In fact, the book will teach you:

  • How to come up with your own Successful Marketing Strategy.
  • How to Build a Successful Business using the Mc Donald’s model.
  • How to organize and Structure your Business for increased profit.
  • How to find and keep Customers.
  • How to design your own Management System.
  • How to create your own Power Point Selling Process.
  • How to successfully go through the three stages of business growth.

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