Free Book Summary : The E-Myth Revisited This article is based on the following book: The E-Myth Revisited Why Most Small Business Don't Work and What to Do About It By Michael Gerber Published by Harper Business, 2003 ISBN 0967450659 278 pages

Ever wonder why most small businesses-- no matter how huge effort they put in their endeavor--still fail? Micheal Gerber reveals the answers in this book. Accordingly, the future of small businesses revolve in only three philosophies: the e-myth (entrepreneurial myth), the turn-key revolution, and the business development process.

The e-myth, or the entrepreneurial myth, evolved from one very fatal assumption-- that the success of every business is simply achieved by summing up the following: an entrepreneur's desire to own a business plus the certain amount of capital he puts in plus the knowing the amount of targeted profit.

Little did the entrepreneurs know that this assumption spell DISASTER rather than SUCCESS. Entrepreneurs need to learn to focus more on the business—the people involved in it and the phases it normally undergoes. Knowledge on these can save small businesses from experiencing entrepreneurial seizure—a stage wherein an entrepreneur goes through feeling of exhilaration, exhaustion, and despair.

Small businesses basically consist of three main characters namely: the technician (the doer and builder), the manager (the planner), and the entrepreneur (the dreamer, visionary). Moreover, small businesses have different life phases. These are: infancy (the technician's phase); adolescence (getting some help phase); beyond the comfort zone; and, maturity and the entrepreneurial perspective.

As implied by the term itself, Turn-key Revolution speaks of the distinct transformations on the way businesses are managed and should be managed. One very prominent example is the introduction of McDonalds the idea of business format franchise to the business world.

The business format franchise has set dramatic turn around on the future of small businesses. Here, the franchisor entitles the franchisee to owning rights to his entire business system. This format is anchored on the belief that the real product of a business is its sales technique rather than what it sells.

The business development process is the response to the unending dynamism of the business world. It equips the entrepreneur with the necessary tools to preempt the continuous changes happening around. The process is comprised of three elemental stages: innovation, quantification and orchestration.

The business development program requires the following aspects to be defined:
Your Primary Aim. The owner's primary aim should center on what he really wishes, needs and wants for his life. Defining this will push the owner to pursue his defined entrepreneurial dreams.

This contains standards that help the owner achieve his goals for his business. This should answer the question: What purpose will this serve my primary aim?

Business owners should learn how to appreciate the value of organizational structures. Some points to consider are organizing around personalities, organizing your company, and position contract.

As the owner you should recognize the truth that the successful implementation of a management strategy is not dependent on the people who could implement it but on the system instead.

This refers to the approach you take towards your people and their work. To make people appreciate the work they do, you should make them understand the idea behind each of their task assignments.

Here is the stage where all attention suddenly shifts from owner to the customer. You set aside your personal goals first and start focusing on the customer's needs.

Your Systems Strategy. There are three kinds of systems in a business: the hard systems, the soft systems and the information systems. The hard systems refer to all those in your business that are inanimate and has no life. The soft systems refer to all those that could be living or inanimate. The information systems are everything else in the business that provides you with data relating to how the two earlier systems interact.

MICHAEL E. GERBER is a business visionary, entrepreneur, and the author of three best-selling business books, The E-Myth, The Power Point and The  E-Myth Revisited . Michael Gerber recently published his fourth book, The E-Myth Manager. He also has two stunning audio programs The E Myth Seminar: Taking charge of your Business and Your Life and The E-Myth Manager: How to Lead with Vision and Purpose. As chairman and CEO of The E-Myth Academy, one of America's most acclaimed consulting and training firms, which certify E-Myth brand  consultants world wide, Michael Gerber has pioneered proven methods for enhancing performance and productivity of companies, managers, and sales people such as Michael Gerber's E-Myth Mastery Program.

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