The E-Myth Revised (Summary)
“THE E-MYTH REVISITED”
ENTRE 300.WB1
Naim Al’Ali
3/11/13
The E-Myth revisited gave some wonderful insight as to the root cause of why most small businesses go under and don 't work. I learned a great deal by reading it and it has given me foresight as to what I need to improve in my skill set to become the best entrepreneur I can be without sabotaging anything of value to my business. The book focuses primarily on the entrepreneurial myth which is involved in a fatal assumption that the success of a business rides purely on the entrepreneur’s desire to own a business, the amount of capital he/she puts in, and Knowing the amount of targeted profit. The book teaches that this assumption could spell disaster rather than success. It also teaches us that the future of small businesses revolve around three concepts which are knowing the e-myth, understanding the turnkey revolution, and understanding the business development process. One of the most important concepts I learned from this book was the actual e-myth itself. Prior to reading the book, I too had this very same notion that was directly comparable to what is explained in the myth. This forced me to think differently about what actually makes a business successful because if not for this book I would have this in the dark feeling. The book talks about how entrepreneurs should get in the habit of thinking more about the business itself, the people involved in it, and the phases it normally undergoes. Having knowledge of these things can have a beneficial impact of your business. A second key concept that I learned from the book was that of the three main characters which are the technician, the manager, and the entrepreneur. The technician is an expert in whatever craft they are in and doesn 't mind doing the work but neglects other responsibilities of going into business even though they are eager to do so. The manager is detail oriented and wants a well organized environment that is very
ENTRE 300.WB1
Naim Al’Ali
3/11/13
The E-Myth revisited gave some wonderful insight as to the root cause of why most small businesses go under and don 't work. I learned a great deal by reading it and it has given me foresight as to what I need to improve in my skill set to become the best entrepreneur I can be without sabotaging anything of value to my business. The book focuses primarily on the entrepreneurial myth which is involved in a fatal assumption that the success of a business rides purely on the entrepreneur’s desire to own a business, the amount of capital he/she puts in, and Knowing the amount of targeted profit. The book teaches that this assumption could spell disaster rather than success. It also teaches us that the future of small businesses revolve around three concepts which are knowing the e-myth, understanding the turnkey revolution, and understanding the business development process. One of the most important concepts I learned from this book was the actual e-myth itself. Prior to reading the book, I too had this very same notion that was directly comparable to what is explained in the myth. This forced me to think differently about what actually makes a business successful because if not for this book I would have this in the dark feeling. The book talks about how entrepreneurs should get in the habit of thinking more about the business itself, the people involved in it, and the phases it normally undergoes. Having knowledge of these things can have a beneficial impact of your business. A second key concept that I learned from the book was that of the three main characters which are the technician, the manager, and the entrepreneur. The technician is an expert in whatever craft they are in and doesn 't mind doing the work but neglects other responsibilities of going into business even though they are eager to do so. The manager is detail oriented and wants a well organized environment that is very
Cited: Gerber, Michael E. The E-myth revisited: why most small businesses don 't work and what to do about it. New York: CollinsBusiness, 1995. Print.