Book Review: E-Myth Revisited by Michael E. Gerber

This is an excellent book unpacking the common myth that entrepreneurs start successful businesses. The reality is many skilled people at a certain craft decide to start a business on their own not realizing that just being good at something does not mean your business will necessarily succeed. The myth that entrepreneurs start businesses is busted by Gerber. He explains that because people who don’t think in an entrepreneurial way, start their own business without understanding management and systems, and instead focus at their particular craft is the explanation behind the high number of failed businesses across America and in general. Only 1 in 10 start-ups last 2 years and of those even a smaller number survive the 5 year mark.

The focus of the book is to lean how to work ON your business as opposed to working IN your business. The latter means you have the systems in place to monitor and manage without necessarily running everything yourself. He writes heavily about realizing that businesses need technicians, management, and an entrepreneurial spirit to truly thrive. He points out how to create systems by putting in written form all the little aspects you do and then training up people to do them well with reasonable checks and balances. He also speaks to the importance of being passionate about what you do – even about all the little things that make your vision unique. For instance, he explained how Ray Kroc who franchised McDonalds had systems for everything, right down to where and how the pickles are placed on a hamburger to keep them from falling out.

So, to sum up some of the major points:

-Just because you’re an entrepreneur doesn’t mean your business will automatically succeed.

-SYSTEMITIZE in order to autopilot your business

-Be passionate about what you do, even in the small areas of your business

-Don’t be afraid to fail, many people have and found great success trying again!

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