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All 16 learnings · one per slide
The E-Myth
Revisited
Michael E. Gerber, in bytes
16 key learnings on why most small businesses don't work, and how to build one that does.
16 learnings · ~40 sec eachSwipe →
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The E-Myth Revisited, in bytes
16 key learnings from Michael Gerber's classic on the entrepreneurial myth and working on your business, not just in it. Each takes about 40 seconds to read. Swipe, use the arrows, or your keyboard.
The E-Myth
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Learning 1
The Entrepreneurial Myth
The idea
Most businesses are started by technicians, skilled at the work, who assume that's enough to run a business.
Takeaway
Skill at the work isn't skill at business.
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Learning 2
Sarah's Pie Shop
Example
Gerber tells of Sarah, who loved baking and opened a pie shop, only to be overwhelmed by running the business.
Takeaway
Loving the work isn't enough.
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Learning 3
Three Personalities
The idea
Everyone has an Entrepreneur (vision), a Manager (order) and a Technician (doing). Most owners are mostly Technician.
Reflect
Which one dominates you?
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Learning 4
The Manager and Technician
The idea
The manager wants order; the technician wants to do the work. They often conflict.
Takeaway
Balance all three.
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Learning 5
The Entrepreneur
The idea
The visionary who creates the future and sees opportunities.
Takeaway
Someone must think ahead.
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Learning 6
Infancy, Adolescence, Maturity
The idea
Businesses go through stages. Many get stuck when the owner can't do it all.
Takeaway
Plan for growth beyond yourself.
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Learning 7
Work On It, Not In It
The idea
Owners should design the business, not just do daily work.
Try this
Set aside weekly time to improve systems.
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Learning 8
The Turn-Key Revolution
The idea
Gerber describes how franchising models made businesses predictable.
Takeaway
Predictability creates value.
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Learning 9
The Franchise Prototype
The idea
Build your business as if you'll franchise it: standardised, documented and repeatable.
Example
McDonald's consistency across locations.
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Learning 10
Systems Run the Business
The idea
Systems let ordinary people produce extraordinary, consistent results.
Try this
Write a checklist for one repeated task.
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Learning 11
Management and People Strategy
The idea
Systems should guide managers and create a consistent experience for employees.
Takeaway
Systems support people.
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Learning 12
Organisational Strategy
The idea
Draw an organisation chart of roles, even if you fill them all at first.
Try this
Sketch the roles your business needs.
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Learning 13
The Business Development Process
The idea
Innovate, quantify and orchestrate: improve, measure and standardise.
Takeaway
Measure what you change.
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Learning 14
Marketing Strategy
The idea
Understand your customers' wants and design every interaction around them.
Takeaway
Customers buy feelings.
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Learning 15
Your Primary Aim
The idea
Clarify what you want from life; the business should serve that.
Reflect
What do you want your business to give you?
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Learning 16
Strategic Objective
The idea
Define what the business must achieve to serve your primary aim.
Takeaway
Business serves life.
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All 16 learnings complete
That’s all 16 learnings.
Work on your business, not just in it. Which task could become a system this month?
Abhay Kumar JaiswalFCA · PMP® · Workday Financeabhayjaiswal.com
Summaries in my own words. Read the book for the full stories.
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Summaries are written in my own words for learning. Read The E-Myth Revisited by Michael E. Gerber (1995) for the full stories. More Books in Bytes