The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It Paperback – Oct 14 2004
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Michael Gerber's The E-Myth Revisited should be required reading for anyone thinking about starting a business or for those who have already taken that fateful step. The title refers to the author's belief that entrepreneurs--typically brimming with good but distracting ideas--make poor businesspeople. He establishes an incredibly organised and regimented plan, so that daily details are scripted, freeing the entrepreneur's mind to build the long-term success or failure of the business. You don't need an MBA to understand or follow its directives; Gerber takes time to explain buzzwords and complex theories. Written in a clear and well-paced manner, The E-Myth Revisited is like receiving advice from an old friend. --Sharon Griggins
From Library Journal
Indicating that 40 percent of small businesses fail within their first year, Gerber, a small business expert, talks about how to be successful. In this revision of his 1986 book, he describes the "E-Myth," which basically states that a person with technical but few management skills can do well in business. Gerber describes developing a precise business system that produces consistent results because it has been tested and refined. He says that businesses thrive because of innovation, quantification, and orchestration. Visualize what is true success to you as a person, Gerber advises, and work from the ideal to the specific. While the author is a consumate salesman who reads his material in soothing tones, he offers too many abstract ideas and too few concrete plans. There is little useful content here. Not recommended.
Mark Guyer, Stark Cty. Dist. Lib., Canton, Ohio
Copyright 1995 Reed Business Information, Inc. --This text refers to the Audio Cassette edition.
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Top Customer Reviews
Cons: Challenging concept for my business of one. No Index.
This is an easy read that took me two days to get through. It's simple, repetitive and just the way I like it. But by no means simplistic. To me, it is well written, when the author gets their ideas across quickly and makes them seem easy. The book gets personal about the author as it tries to relate itself to the reader, yet shows a sense of writing maturity in it's simple delivery of so broad a topic. It also gets personal about you as you discover that your business is a reflection of you.
A mixture of experience and facts, blue prints and rules told in a conversational story with a semi-fictional character. This style of using a third party character to clarify and reinforce the ideas worked well with me. It helped balance and pace the lessons with a fine sense of timing and added perspective. The book is informational, motivational and even funny at times.
Gerber sets the stage by prefacing the four ideas that are the basis of the book's lessons. He identifies and compares three personalities being The Entrepreneur, The Manager and The Technician in us and shows us how and why most businesses fail. He identifies phases of the entrepreneurial business as infancy, adolescence and maturity and the pitfalls of each. He covers six rules on how to shift from working 'in' your business to working 'on' it. And goes over the three activities to help it evolve being, Innovation, Quantification and Orchestration, systems to blueprint your business. He covers the Business Development Process and to think of how to turn it into a franchise that is a saleable Turn-Key business.Read more ›
I recently re-read E-Myth and E-Myth revisited by Michael Gerber ([...] His thesis is to work on the business, not in the business. He is a big believer of systematizing and documenting processes. Dumbing things down so anyone can do them.
Although the primary thrust of his books are targeted at small business (and since I started my business from 0, I am a bit of a small business person despite running the Billion dollar company), there are some gems for larger businesses as well.
It speaks to scalability. Creating a system that can grow and does not require any specific person in order to do this. Then polishing the system at every opportunity to make it better.
What I am finding in the current polishing is that the adaptability of the people is a key trait. People tend to be the barrier to new systems. The adaptable ones will thrive. Part of what I need to do is to also moderate some of the change in order not to break a good thing. Although we need to change - we also need stability. It is that balance that I seek.
E-Myth Revisited presents some superb information on how one can position their new business for long term success. The author's core message is that entrepreneurs should commit themselves to working "on" their business to perfect its structure and systems rather than working "in" their business. To accommodate growth and best handle new staff, this approach seems ideally suited for almost any business type.
Some readers (myself included) may be frustrated by the author's choice to embed some of his material into a story about a particular entrepreneur he worked with. I didn't think that the story added any depth to the points Gerber communicated so well otherwise.
The bottom line:
The core material deserves 5 stars, but I'm holding back one star for the narrative segments. All in all, very worth a read.
Gerber is correct that most entrepreneurs are limited by a comfort zone of wanting to remain in control as either strong technicians or managers, which limits the potential of the business. As soon as they exceed what they can handle, the business either fails in a break-out attempt or shrinks back to a simpler state. The new businesses that succeed the most are the ones that have a business model that is easy to replicate with ordinary people.
Where Gerber goes wrong is in suggesting that many people can develop such business models. I regularly study the top 100 CEOs in the country for stock-price growth, and few of them think they can develop a new business model. Why should someone starting up a new company be likely to do better than that? They won't. In fact, I have a friend who attempted to start a new business following Gerber's principles and almost failed before he adjusted to normal operating approaches. He spent so much time developing his business model, that he never got around to operating it.
Gerber's three favorite examples are McDonald's, Disney, and Fed Ex. Notice that two of the three got most of their ideas from someone else for the business model (Ray Kroc from the McDonald brothers in San Bernardino, California and Fred Smith from an Indian air freight operation).
I think there is another fallacy here: You can get ordinary people to do simple things (deliver packages, cook and deliver cheap hamburgers, and smile at people on automated rides).Read more ›
Most recent customer reviews
great book for anyone who's passion has been squashed by the day in and out of their business.Published 12 days ago by Amazon Customer
This was a gift for someone else, and I did not read it. Amazon needs a way to say "This was a gift, and I don't know what to tell people about this book", as otherwise... Read morePublished 3 months ago by Julian of Norwich
So glad I bought this book to help me structure my business before I get to far in. It is written in a logical and easy way to understand help someone setup from the ground up. Read morePublished 5 months ago by Stéphane