The E Myth Revisited by Michael E Gerber
Michael Gerber's "The E Myth Revisited: Why Most Small Businesses Don't Work And What To Do About It" is one of the most profound and far-reaching of books aimed at the small business owner and entrepreneur.
I make sure that my small business clients are aware of the E Myth book. I've even given clients and prospects a copy if I think that they will read it because it really can change your life.
It is that powerful and I am pleased to bring you my E Myth Revisited book review.
What Is All The Fuss About With The E Myth Revisited?
Several people recommended "The E Myth Revisited" to me and when I first read it I didn't get it.
Michael Gerber's style of writing didn't suit me.
I couldn't empathise with the story of Sarah and her business All About Pies because much of my work experience was with larger small businesses.
I didn't want to turn a client's business into the McDonald's of their industry.
The writing seemed soppy and sentimental and I was used to hard nosed, content rich business books. The E Myth Revisited didn't tell me "how" to change a business.
I now totally get the E Myth Revisited.
I read the book about once a year and I know it so well that I'm saying to clients "You need to read Chapter 12 in the E Myth about Your Primary Aim again. You must get this core idea that your business is there to serve your life and not the other way around."
Give The E Myth Revisited A Try
Buy The E Myth Revisited, read it and if you are like me and still don't get it, then come back to the book after three months and read it again.
The lessons the E Myth book contains are that important.
Key Insights From The E Myth Revisited
The first insight has to be the entrepreneurial myth itself.
Just because you know how to do the technical work - an accountant, a printer, a hairdresser - does not mean that you also know how to build a business.
You probably don't because nobody has taught you how to do it and you probably haven't experienced all the different areas that you now have to master.
The second revelation in the E Myth concerns the three distinct roles that Michael Gerber has identified - the technician who does the work, the manager who monitors and organises the work and the entrepreneur who, led by a vision, builds the business.
Michael Gerber then goes on to take the reader through a typical life-cycle of a small business which is sure to ring a few bells in your mind.
The solution recommended in The E Myth Revisited is to build a franchise prototype.
The E Myth Says "Build Systems"
What you don't want to franchise your business?
That's OK because you don't have to.
Michael Gerber's idea in the E Myth is to design the business to such a high standard that it could be franchised because through careful design, the business can work without you.
With the right systems, processes, policies and procedures your business will run like a well-oiled machine. The aim is to build a business which depends on your systems and not your people.
Don't Become People Dependent
The E Myth Revisited does not say that people aren't important because they are.
But you can't allow yourself to be in the situation where your business depends on, for example,one master salesperson. Just stop and imagine the negotiation power that person has over you when it comes to pay rises and remember, they will be skilled negotiators.
The Core Of The E Myth
Two of the chapters that I get people to go back and read again in "The E Myth Revisited" are Chapter 12 on Your Primary Aim (what is your life about - you've only got the one and it is a finite period) and Chapter 13 on Your Strategic Objective (what does the business have to do to play its part in your Primary Aim).
These two chapters very much start defining the issue of work/life balance - do you live to work or work to live?
You Need The E Myth Revisited
Just writing the review of "The E Myth Revisited" has made me want to start reading the book again. It is central to everything I do as a business coach and is required reading for anyone who wants to advise small businesses.
Have You Read The E Myth Revisited
Have you read this book? If so, I'd love to read your opinion of "The E Myth Revisited" by Michael E. Gerber and see whether you agree with my book review.
Follow Up Books by Michael Gerber
E Myth Mastery Review - the follow up to the E Myth Revisited
Awakening The Entrepreneur Within - published in 2008, I believe Michael Gerber backs away from some of the central ideas of The E Myth in this book.