Book Summary: The E-Myth Revisited by Michael E. Gerber

The E-Myth Revisited by Michael E. Gerber Book Cover

The E-Myth Revisited is a business management book written by Michael E. Gerber. First published in 1985, the book has since become a bestseller and is considered a classic in the field of small business management. The E-Myth Revisited is a revised and updated version of the original E-Myth, which was published in 1978.

The main idea behind the book is that most small business owners are technicians who are good at what they do, but struggle with the business aspect of their venture. The author argues that this is because most small business owners are not entrepreneurs, but rather technicians who have become self-employed. The book aims to help small business owners overcome this mindset and adopt an entrepreneurial approach to their business.

Chapter Summaries

Chapter 1: The Myth of the Small Business

In the first chapter, the author introduces the concept of the E-Myth, which stands for the Entrepreneurial Myth. The author argues that the E-Myth is the belief that most small business owners have that they are entrepreneurs, when in reality they are not. The author also introduces the idea that the small business is not a small version of a larger business, but rather a unique entity that requires a different approach.

Chapter 2: The E-Myth and the Technician

In this chapter, the author explains the difference between an entrepreneur and a technician. The author argues that most small business owners are technicians who are good at what they do, but struggle with the business aspect of their venture. The author also introduces the idea that the technician mindset is the reason why most small businesses fail.

Chapter 3: The E-Myth Today

In this chapter, the author discusses how the E-Myth has evolved over time and how it applies to modern business. The author argues that the E-Myth is more relevant than ever in today’s business climate, where technology and globalization have made it harder for small businesses to compete.

Chapter 4: The Turn-Key Revolution

In this chapter, the author introduces the concept of the turn-key business, which is a business that is fully systematized and can be run by anyone. The author argues that the turn-key business is the future of small business and that it is the only way for small businesses to compete with larger companies.

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Chapter 5: The Franchise Model

In this chapter, the author discusses the franchise model and how it can be applied to small businesses. The author argues that the franchise model is the best way for small businesses to adopt the turn-key business model and that it is the key to success in today’s business climate.

Conclusion

Overall, The E-Myth Revisited is a must-read for any small business owner who wants to take their business to the next level. The book provides a comprehensive overview of the challenges facing small businesses and offers practical advice on how to overcome them. Whether you are just starting out or have been in business for years, The E-Myth Revisited will help you develop an entrepreneurial mindset and take your business to new heights.

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