I am astonished when discussing business books with entrepreneurs & small business owners and they have never heard of the “E-Myth” by Michael Gerber. In my opinion, it is one of the most impactful books on entrepreneurship ever written. As you might have guessed, the “E” stands for entrepreneurship, and Gerber does an outstanding job forcing would-be entrepreneurs to view business in a different way.
The book is very informative and presents much of the subject matter someone with an MBA would discuss in an easy to read, motivating, and insightful format. Gerber tells a story. The story of Sarah and her shop “All About Pies,” relates to a wide array of people. The conceptual components could apply to any entrepreneur or small business owner in just about any industry or phase of business, producing any type of widget. (also known as products and services)
The nuts and bolts lessons of the E-Myth have everything to do with systematizing your business to create predictable, profitable results with minimum involvement from you, the owner.
He aptly touches the heart of the American entrepreneur by illustrating how most entrepreneurs go into business as a result of what he terms the “Entrepreneurial Seizure”.
“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 a Friday afternoon, or a sideways glance from the boss that just didn’t sit right. It might have been a 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 apparently no reason, you were suddenly stricken with an Entrepreneurial Seizure. And from that day, your life was never to be the same.”
Gerber ascertains most entrepreneurs are technicians that cannot stand the employed life for one reason or another. This leads to the Entrepreneurial Seizure and the start of a business owner doing the technical work they currently do for someone else.
The myth is that entrepreneurs are brave, noble men and women, valiantly taking on the world to build their business. From his years of study, research, and consultations with entrepreneurs, Gerber says the truth behind this faulty image of the daring is actually withered, beaten down technicians working at a job they own.
Gerber is the founder and Chairman of E-Myth Worldwide, where he originated his own unique form of small business re-engineering processes on behalf of his more than 25,000 small business clients. The E-Myth is Gerber’s life line to the entrepreneurial community.
Inside, he gives a powerful business development process to construct a business that works! Chapters cover topics such as, your Primary Aim, Strategic Objective, Organizational Strategy, Management Strategy, People Strategy, Marketing Strategy and System Strategy.
The best part is, the book is not written in typical business jargon, but in plain everyday language that is easy to comprehend and, most importantly, implement. Gerber brings the dream back to the entrepreneur!
Book Review: The E-myth Revisted, Why Most Small Businesses Don’t Work and What to Do About It, by Michael E. Gerber
ISBN: 0-88730-728-0 | Price: $16.00
HarperCollins, New York, NY | www.e-myth.com