Library / Personal Development | Human Psychology

Date of review: February 2020
Book author: Michael E.Gerber
Вook published: 2001

The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It by Michael E.Gerber (2001)

I highly recommend this book to anyone who is looking to start his own business. In fact it is particularly useful to read to appreciate the benefits of one's current work which are not always obvious.

If the business relies on unique qualities of its founder – it is not a truly great business.

The book focuses on an individual who is working for a firm and doing specific job (more like a craftsman). The mistake such person can make, according to the author, is thinking that by doing the same job on his/her own such person can achieve better results (more free time, better pay). In reality he starts working more and faces much more stress because in addition to his normal job he needs to think about processes, organisation, finance and other things. He becomes enslaved by his job.

Gerber breaks down the roles individuals play in any early-stage business into three main categories:

1
Technician  - in charge of the actual product / service.
2
Manager – arranges all the processes, looks after the organisation.
3
Entrepreneur – someone who has a big idea, vision and pushes everyone to achieve it, looks for resources, thinks about new products / services.
The most useful part for me was that before launching a business it is worth thinking whether it can be franchised or sold to a person who can easily understand how to run it. If the business relies on unique qualities of its founder – it is not a truly great business. The concept should be quite simple, should be written almost like an instruction that anyone can follow.

You may also be interested in ...