The Weekend Read – The E Myth Revisited by Michael E. Gerber

On the inside cover of my copy I see that I bought this in February 2001 – it was first published in 1995 and I wish I had read it even earlier than that, it would have saved me much pain and heartache and probably saved me a small fortune.

Its subscript describes the book, “Why Most Small Businesses Don’t Work and What to Do About It”. This is one of THE books (possibly THE one book) that anybody contemplating going into business for themselves should read, and then re-read.

I return to it every couple of years, it is packed with wisdom and sound advice. It is invaluable.

One review says, “Gerber points out how common assumptions, expectations, and even technical expertise can get in the way of running a successful business.” and continues…“shows how to apply the lessons of franchising to any business, whether or not it is a franchise.”

I quote below from Sam T Davies’s review which you can read on his website HERE and where you will find reviews of other good business books.

The Book in Three Sentences

  1. Most small business owners work in their business rather than on their business.
  2. People who are exceptionally good in business are so because of their insatiable need to know more.
  3. Understanding the technical work of a business does not mean you understand a business that does that technical work.

The Five Big Ideas

  1. “If you are unwilling to change, your business will never be capable of giving you what you want.”
  2. That Fatal Assumption: if you understand the technical work of a business, you understand a business that does that technical work.
  3. The Entrepreneurial Seizure occurs the moment you decide it would be a great idea to start your own business.
  4. “Everybody who goes into business is actually three-people-in-one: The Entrepreneur, The Manager, and The Technician.”
  5. We all have an Entrepreneur, Manager, and Technician inside us.

The E-Myth Revisited Summary

  • Michael believes that the people who are exceptionally good in business aren’t so because of what they know but because of their insatiable need to know more.
  • “If you are unwilling to change, your business will never be capable of giving you what you want.”
  • That Fatal Assumption: if you understand the technical work of a business, you understand a business that does that technical work.
  • The Entrepreneurial Seizure: the moment you decide it would be a great idea to start your own business.
  • The technician suffering from an Entrepreneurial Seizure takes the work he loves to do and turns it into a job.
  • “Everybody who goes into business is actually three-people-in-one: The Entrepreneur, The Manager, and The Technician.”

You can buy the book from The Book Depository HERE

2020/3

Published by Alun Rees

Dental Business Coach. Analyst. Troubleshooter. Consultant. Writer. Presenter. Broadcaster.

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