The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It

The difference between great people and everyone else is that great people create their lives actively, while everyone else is created by their lives, passively waiting to see where life takes them next. The difference between the two is living fully and just existing.~Michael E. Gerber

The E-Myth: Revisited…A Life Changing Book for Business Owners
I soaked up every word of this incredible business book, The E-Myth, Revisited by Michael E. Gerber, and believe that everyone who owns their own business, or is thinking about starting one, needs to read this book.  Although the original book was published in 1986, and has been revised many times over the years, the principles that Michael wrote about almost 30 years ago, are still right on track in our world today.

My Introduction to The E-Myth Book
I first heard about this book on Michael Hyatt’s Podcast, This Is Your Life, and downloaded the unabridged version (about 8 hours of content) to my Audible account to listen to while making a solo road trip to a meeting in Kansas City.  It was a little bit hard to get into at first, so hang in there and know that some life changing material is inside this book! After listening to just an hour or so, I got online at my next pitstop and ordered the paper version of the book because I realized that this was one book that would be highlighted, dog-eared and referenced back to many times.

Failure vs. Success

  1. 80% of businesses fail within the first 5 years
  2. More than 80% of the businesses that make it through the first 5 years, will fail in the second five!
  3. That should make any prospective business owner stand up and take notice!

I actually sat in a parking lot with tears streaming down my face, because I could completely resonate with some of the problems Michael was addressing. I have lived through many of the heartbreaks, nightmares, and challenges that he talks about as we have run our small business over the past 31 years. I want to take my challenges as just that: challenges. AND I want to triumph over those and grown my business beyond my wildest dreams!

Systemize!
Michael basically boils it all down to one thing…SYSTEMS.  Small businesses fail to systemize their businesses. Small business owners don’t fail because they’re not passionate about what they do, they fail because they spend time working IN their business instead of working ON their business. They spend so much tine trying to keep their business running that there is not time to go out and GROW their business.

Michael teaches business owners not just to survive but to THRIVE when they learn to systemize! He recommends that you create a plan for the future of your business, work on developing the steps necessary to get there, then to create systems for each and every thing that you and every member of your staff do.  And he does mean Every! Single! Thing! The goal is that each of these things can then be replicated, saving time, energy and money, and it lets you get on to the business of growing your business!

Mastermind Group

I love the fact that our veteran entrepreneurs are still life-long learners
When our Mastermind Group got together this spring, one of our members brought a copy of The E-Myth, Revisited for everyone in our group.  As a veteran retailer (well over 40 years in a very successful business), he had just finished reading the book, and was as affected by the principles of this book as much as I had been.  I love the fact that our veteran entrepreneurs are still life-long learners and it is no surprise that successful people continue to read, listen and learn on a daily basis. Several of our members have really taken this book to heart and have begun to work on the systems within their businesses that will allow them to change their focus to growing their business.

What you’ll read on Amazon:
“In this first new and totally revised edition of the 150,000-copy underground bestseller, The E-Myth, Michael Gerber dispels the myths surrounding starting your own business and shows how commonplace assumptions can get in the way of running a business. He walks you through the steps in the life of a business from entrepreneurial infancy, through adolescent growing pains, to the mature entrepreneurial perspective, the guiding light of all businesses that succeed. He then shows how to apply the lessons of franchising to any business whether or not it is a franchise. Finally, Gerber draws the vital, often overlooked distinction between working on your business and working in your business. After you have read The E-Myth Revisited, you will truly be able to grow your business in a predictable and productive way.”

Whether you’re in the process of starting a business, drowning in the day-to-day of running your business, or you’re a successful business owner who needs some inspiration, I HIGHLY RECOMMEND you check out The E-Myth, Revisited!

~Vicki Adrian

Question: Have you read Gerber’s book? What impact did it have on you? Please leave a comment in the box below!

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vicki@remarkableretailer.com
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