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The E-Myth Revisited:
Why Most Small Businesses Fail & What to Do About It
BOOK REVIEW
Michael E. Gerber, Publisher: HarperBusiness
Michael E. Gerber is founder and CEO of E-Myth Worldwide, based in Santa
Rosa, California. He is the bestselling author of The E-Myth Contractor,
The Power Point, The E-Myth, The E-Myth Revisited, and The E-Myth
Manager. He is also a successful speaker and small business expert.
These days so many things begin with ‘E’ (email, eZine, eCommerce,
eMarketing) that the title of this book probably has something to do
with the internet or some other form of electronic communication. Right?
Wrong!
Back in 1986 Gerber wrote about what he called the “E-Myth”, the
mistaken belief that entrepreneurs have that they will succeed because
of the technical knowledge they possess. So “E” means “entrepreneur” and
that’s what his famous series of books are all about.
The ‘Revisited’ edition uses a case-study approach that ensures the
message will be easily understood. This book focuses on developing a
good business strategy and on the leadership skills required to grow a
business and achieve objectives. It provides a step-by-step approach to
implementing these ideas in the real world.
Even if 40 percent of small businesses fail within their first year,
Gerber says there are ways to be successful. In this revision of his
original work he explains the "E-Myth," then outlines a precise business
methodology that produces consistent and positive results;
entrepreneurial businesses can thrive if they harness the power of
innovation.
Gerber has developed a thoroughly-organized regimen that takes care of
the daily details of running a business. Follow these steps meticulously
to handle the day-to-day stuff and thereby free the entrepreneur's mind
to build the success of the enterprise. Anything in the book that
ventures into the theoretical is well-explained in language most
business owners can easily understand.
Michael Gerber cuts through many of the myths about starting your own
business and shows how believing in these myths can inhibit success. He
describes the steps in the life of a business - entrepreneurial infancy,
adolescent growing pains, then the mature entrepreneurial perspective –
and how the lessons learned along the way can be recreated for those
just starting out.
He plays heavily on the difference in outcomes between those who work on
their business and those who work in their business.
This is also an excellent book for technicians and managers as well as
the entrepreneur. It says that employers today want more from employees
than just technical proficiency. They want people who can analyze their
business and provide viable technical solutions that contribute to a
good work environment as well as to bottom line success. The
entrepreneurial spirit in employees can be tapped and will increase the
organization’s chances for success.
The book is also a practical guide to business problem solving. It can
be used to design management information systems and implement effective
training in any type of size of business.
In simplest terms, this book should be required reading for anyone that
owns or is thinking about starting a business.
This book review was originally published in the February 2004 edition
of ONEderings ezine.
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