The E-Myth Revisited
In "The E-Myth Revisited," Michael E. Gerber argues that many small businesses fail because their owners are skilled technicians but lack the necessary entrepreneurial vision and management skills. He emphasizes the importance of working on the business rather than in it, advocating for systems and processes that allow for scalability and efficiency. Gerber introduces the concept of creating a franchise prototype to ensure that the business can thrive independently of its owner.
19 curated highlights from this book
Key Insights & Memorable Quotes
Below are the most impactful passages and quotes from The E-Myth Revisited, carefully selected to capture the essence of the book.
Most entrepreneurs are not really entrepreneurs; they are technicians suffering from an entrepreneurial seizure.
The business is not the job of the owner but the job of the business.
If your business depends on you, you don’t own a business—you have a job.
Work on your business, not in your business.
Systems permit ordinary people to achieve extraordinary results predictably.
The purpose of a business is to create a customer.
Your business is a reflection of you.
The business development process is about working on your business rather than working in it.
The technician thinks he knows how to do everything.
Vision without execution is just hallucination.
Most small businesses are not started by entrepreneurs. They are started by technicians who think they are entrepreneurs.
Working on your business is the key to success, not just working in it.
Without a customer, you don’t have a business.
If your business depends on you, you don’t have a business.
A business is a system, not just a collection of products and services.
You must work on your business, not just in your business.
The technician in you wants to do the work. The entrepreneur in you wants to create the business.
To have a successful business, you must create a prototype.
Your business is a reflection of you. If you want it to grow, you must grow first.