Sunday, July 27, 2014

Book Review: The E-Myth Revisited

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

My rating: 4 of 5 stars

Here's the one I wish I had read BEFORE I started my own consulting practice, BEFORE I had spent $42,000 to have an assistant doing all the tasks I dislike, BEFORE I fell flat on my face trying to be all things to all clients. 

The "E" for those who haven't read this one stands for Entrepreneur.  And the "E-Myth" is the belief that everyone who opens their own business is an entrepreneur at heart.  Turns out, most of us aren't... but we need to be.  Or, at least, we all need to perform that function if we want to avoid becoming a statistic. 

I am a big believer in self-employment.  The freedom, the income potential, the quality of life are superior to any way of earning a living I know of.  I've told anyone who asked that they should do it.  Figure out what you are good at.  Figure out how to get others to pay you for doing what you are good at.  Set out a shingle and go.  Just do it.

Now I tell them to run to the bookstore and get The E-Myth Revisited.  Gerber spells out all the classic mistakes, describes all the things a new business owner must think through, all the roles that must be filled - even in one-person operations.  It's an MBA, mother's advice, and 10 years of on-the-job training all rolled into one.  Thanks Mr. Gerber! 

Download a two-page summary, written by me, by clicking here. 

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