It took me several months before I was finally convinced enough to buy and read The E-Myth Revisited. Mostly because I don’t own a small business and I didn’t think the book would have any relevant information for me.
While this book does talk a lot about how to run a small business, the author shares valuable ideas and ways to improve any type of business model – whether its freelancing, self-employment or other business related ventures.
I should have known I would enjoy reading this book, because it’s been around for years and has been reprinted several times. It’s about 250 pages of really inspiring reading.
Who this book is for?
The author writes the book as if he’s explaining everything to a woman named Sarah – who is just like you and me – an individual trying to learn the ropes of starting a small business, balancing work, life and stress.
If you don’t understand the difference between working on your business and in your business, you need to read this book. And if starting your own business or any type of business venture has ever crossed your mind, you definitely need to read this book.
What is the E-Myth?
The e-myth stands for entrepreneurial myth, which says that small business are started by entrepreneurs risking capital to make a profit. According to Michael Gerber, this is a myth because the real reasons people start businesses have little to do with entrepreneurship.
Instead the author tells us to embrace the “Turn-Key” revolution, where we built solid business systems, franchises and processes to make successful businesses.
“Michael founded the company that would eventually become E-Myth Worldwide more than 30 years ago to address a significant need in the small business market: businesses owned primarily by people with technical skills but few business skills, and no place to go to get meaningful help. Over the years, E-Myth has helped tens of thousands of small business owner clients to successfully transform their businesses into world-class operations.” – Source
Part One: The E-Myth and American Small Business
- Chapter 1 – The Entrepreneurial Myth
- Chapter 2 – The Entrepreneur, the Manager, 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 Two: 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 Three: 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
I highly recommend this book! Even if you work in a managerial position at a company, this book will help you understand and learn more about how a successful business works and how you can make it run even better.
A few takeaways
I’ve always had an entrepreneurial mind with lots of curiosity about business, so this book was right up my alley. I learned the importance of setting up systems, even in my freelance business, because if I ever want to hire help or outsource my work, I’ll need a solid system in place to keep a high quality of work going.
Just like the big franchises, such as McDonald’s and FedEx do, if I want any business venture to succeed, I need to treat it like a successful business – with all the proper processes, techniques and mindsets.
I think my biggest takeaway from this book is that I need to separate my Technician, from my Manager from my Entrepreneurial spirit. Otherwise, they will all get jumbled up and then nothing gets done.
While some of the advice written didn’t apply to me directly, I still think it’s a great resource to have available and knowledge that I can use anytime in the future.
Connect with The E-Myth Team or buy the book