I give this book 5 stars for the conceptual framework it gives you about businesses, but 3 stars for the annoying, contrived “storytime with Sarah” format. So I averaged it out to 4 stars overall.
The E-Myth is the myth that most people who start small businesses are entrepreneurs and the myth that an individual who understands the technical work of a business can successfully run a business that does that technical work.
Some of these takeaways will sound familiar, even if you haven’t read this book. Since E-Myth came out, these lessons have been remixed thousands of times by other business books. Michael Gerber is the OG.
- Everyone who runs a small business does three roles at once: Entrepreneur, Manager, and Technician.
- Work on your business instead of in it.
- You can apply the lessons of a franchise to any business, even if it isn’t a franchise.
- Your primary aim and strategic objectives for your business matter. Don’t brush them off.
- You can’t make people do what you want and still have them as employees. You have to create an environment where getting things done is more important than not getting things done.
- You need to replace yourself with a system, not just another people like you.
- Your system has to work even for people with the least amount of knowledge.
- Hard systems: Physical changes (whiteboard buffers). Soft systems: Ways of doing things, mindset changes (sticking to a sales prospecting pipeline)