Jul
14
Emyth Revisited – by Michael Gerber – Captured
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The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It
Purposes:
1. Why Don’t Most Small Businesses Work?
2. How do you make them work?
Central Messages:
1a. People work IN their business rather than ON their business mostly as Technicians and as a result their businesses cannot grow.
1b. Most small businesses do not make it past Infancy and even fewer past adolescence and those that make it to maturity do so because they do things differently.
2a. People who work ON their business make their business work for them rather than work for the business.
2b. A business succeeds by balancing the Technician, Manager and Entreprenuer in each of us and balance comes naturally when we envision and work towards a Turnkey business – otherwise known as the Business Development process.
Validations:
- The E-Myth is that Americans think that small business are started by Entreprenuers even though most Small Business are started by technicians, people thinking that they can run a business because they have a skill, they can do something.
- The businesses don’t work because when the owner finds him/herself balancing the Managerial (order based on the past), Entreprenuerial (forsight and planning for the future) and Technical (Doing what needs to be done in the present) aspects of the business, the technician in them usually wins out. They get caught up in doing, doing until they become a slave to their business and can never move the business into maturity, usually dying in infancy or maybe adolescence.
Applications:
This book was written to be an example of application as it follows the “All About Pies” experience of a friend. “All About Pies” is a business that grew, tried to move from infancy to adolescence and then fell back. The owner learns from Gerber principles that get her excited about working on her business rather than working in it.
Value:
Entreprenuers who succeed do so because they have an insatiable desire to know and get it right. This nation needs a new group of entreprenuers who don’t allow a curtain to fall between themselves and the world. We need to see ourselves as who we really are. We are usually the problem. But if we find the courage to lift the curtain and really engage the world, we will grow and adapt to the world as well as make our business work for our primary aim in life.