The E-Myth Revisited

Do you want to know how to grow your business productively? Michael Gerber walks you through all the steps you need to take in a business. An insight from his own experience, which will help you deconstruct all the myths regarding the way one should work when it comes to business.

“The E-Myth Revisited” dispels the myths about starting your own business. Michael Gerber points out how common assumptions, expectations, and even technical expertise can get in the way of running a successful business.

Too much time spent working in the business and not enough time spent working on the business is a big reason why 50% of new ventures fail within the first 5 years. This book teaches us how to think about growing a business as if we were planning to franchise it.

Here are some takes from the book:

1.???????The Three Personalities of Business People

A small business owner needs to cultivate and balance three roles or mindsets, all of which are necessary for running a business. The first is the technician mindset, which is where most small business owners begin and end. But this mindset by itself is insufficient.

The entrepreneur role provides the vision, creativity, and energy that drive the business. The manager is a pragmatist who translates the vision into reality through planning and systems.

2.???????Do What Your Business Needs

Most businesses are run according to what the owner wants rather than what the business needs. Your business is destined to doom if you run a company doing what you want rather than doing what your business needs.

3.???????Beyond the Comfort Zone

Your job is to prepare yourself and your business for growth. To educate yourself sufficiently so that, as your business grows, the foundation and structure can carry the additional weight.

It’s up to you to dictate your business’s rate of growth by understanding the key processes that need to be performed, the key objectives that need to be achieved, the key position you’re aiming for in the marketplace.

You must plan, envision, and articulate what you see in the future for your business and employees. Any plan is better than no plan. In the process of defining the future, the plan begins to shape itself to reality.

Would you recommend this book to anyone who is willing to start a business? Would you read it yourself? Please join the conversation and leave your comments below!

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Joe Calasan