The E-Myth Revisited, by Michael E. Gerber, is a book that focuses on why so many small businesses fail to attain their goals. And to express his thoughts and opinions or deliver the message, the author incorporates several fictional business owner characters. The narrative also makes significant references to systems at the workplace, and how they dehumanize or not dehumanize the employee.
Major Takeaways from The E-Myth Revisited
The E-Myth Revisited has a lot of uplifting words and suggestions for budding entrepreneurs to excel in their respective ventures. The advice doled out isn’t specific to a particular product/service or industry, but is generic that could apply to a range of businesses. The following are some of the primary things we learned or were forced to ponder over after having done reading the book:
• The author clearly explains why most businesses fail. One of the reasons being most individuals start businesses to be their own boss or make profits. Only the minority sees a business venture as an opportunity to work for and under themselves. And to be an efficient employee of your own business, one has to learn the technical skills needed to excel at the vocation.
• An individual cannot don all business hats. For a business to sustain or your interest to stay intact, it’s important to delegate work and not put a one man show. Most small businesses, to survive and succeed, need three people: a manager, technician and entrepreneur. And a person will get exhausted by the end of the working day or kill his motivation and passion for the business if he tries to be all the three.
• A business must have a system or process to itself that can be replicated. The business owner’s efficiency and profits tend to be higher if he can systematize proceedings. This makes it easier to train people and make them do the expected. Most small business owners fail at this aspect. They don’t have a system in place, and those who do have one have a system that may get dated with time or isn’t designed keeping in mind the prospects of the business becoming bigger in the future.
• To succeed, a business not just needs an excellent idea but the owner should also be qualified to know how to run a business. Your business schools may help you learn business skills in a scattered manner, but this book makes you more eligible to start and run a business.
Areas Where the Book Falls Short
This book by Michael E. Gerber may be quite popular and have its dedicated fan base, but this doesn’t mean the book is without its flaws. For starters, quite a few people have complained about the narrative being stretched out to last more than 250 pages, which could have been easily skimmed down to below 100 pages.
Also, some critics have indicated that the author, in order to validate his point, invents new characters during several stages of the prose. This approach was not just repetitive but was also annoying to a certain extent. And not to mention the ad placements for his own company within the text.
Overall, it’s a great book for people who’d like to start their own business or individuals who are already heading a business but would be better off learning a few essential tips and tricks. However, as aforementioned, the book is a bit too long and it could be hard to finish this book if you’re not an avid reader. Fortunately, the book is also available as CDs, which you can hear to. But since most people read books and not listen to them, we felt this point had to be highlighted.