Business Stripped Bare

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A Publication of the Maryland Small Business Development Center Network                              

 

                 

THE E-MYTH REVISITED
Why Most Small Businesses Don’t Work and What to Do About It

Authorized Book Summary Reprint from E‐Myth Worldwide  Eight page summary of the book E‐Myth Revisited, which has sold  over a million copies and is published in at least 16 languages.  I was thinking that I know it all, have  worked for construction companies in  the past‐‐managed the office, books,  and brought them out of debt‐‐so hey  why not start my own business? I  know what I am doing, right; well I  thought I did until I read E‐Myth. The  best way to explain my experience  with this book is WOW!!! I read the  whole book in one day. I couldn't put  Sponsored By 

it down, literally. I have a whole new  perspective on starting and running a  business, and can see now why some  of the businesses that I have worked  for no longer exist and the others that   

do are heading for destruction. It is by far one of the best books that I  have ever read. Christina Peters, North East, Maryland  Read  the  book,  “E‐myth  Revisited”  by  Michael  Gerber.  The  book  suggests  that a business should be a vehicle to bring its owner more life. The way to  accomplish  that  is  to  Work  ON  the  Business  ‐  Not  IN  the  business  it  by  using systemization and business development. Beacon Staffing Alternatives  is more like a business then a job. Now I have more time to focus on my real  dream, improve my golf game so that I can break 80.”  Sheryl Kohl, Beacon  Staffing Alternatives, Aberdeen & Towson, MD 

www.e‐myth.com 

  Do not use this summary to replace reading the book.   

The E‐Myth Revisited

THE E-MYTH REVISITED
Why Most Small Businesses Don’t Work and What to Do About It MICHAEL E. GERBER

SUMMARIES.COM is a concentrated business information service. Every week, subscribers are e-mailed a concise summary of a different business book. Each summary is about 8 pages long and contains the stripped-down essential ideas from the entire book in a time-saving format. By investing less than one hour per week in these summaries, subscribers gain a working knowledge of the top business titles. Subscriptions are available on a monthly or yearly basis. Further information is available at http://www.summaries.com.

The E-Myth Revisited - Page 1

MAIN IDEA The E-Myth, or Entrepreneurial Myth, says that most new businesses are not started by entrepreneurs who set out to build a strong business but by technicians who enjoy the hands-on work themselves. Because of that natural bias, most business owners focus on working in their business when really they should be working on their business. There is, however, a simple and effective way to offset the E-Myth tendency. Instead of looking at the business as a one-off operation, the owner should consider the business to be a prototype for a large number of franchises that will be added at a later stage. By adopting that mindset, the business owner will not only participate in the business as a technician but will also act as a manager (putting systems in place and controls) and as an entrepreneur (having a vision of how the business can create sustainable added-value for all key stakeholders). A business that is built and managed by someone who combines the approach of the technician, the manager and the entrepreneur will have a far greater chance of future success than one guided by someone thinking like a technician alone. Section 1 -- Basic E-Myth Concepts and Principles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Page 2 The key principles which form the foundation for the E-Myth approach to business are: 1. Most new businesses are started by technicians -- people who are skilled at what they enjoy doing. 2. Technicians assume they understand how a technical business works. In reality, they never do.. 3. Building a...
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