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
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
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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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