Product Description

In this totally revised and updated edition of the underground classic, The E-Myth, Michael Gerber explores the myths surrounding starting your own business and shows how common assumptions, expectations and even technical expertise can get in the way of running a business.

Product Details

• Amazon Sales Rank: #954476 in Books
• Published on: 1995-03-09
• Original language: English
• Binding: Audio Cassette

Amazon.com Audiobook Review
Michael Gerber's The E-Myth Revisited should be required listening for anyone thinking about starting a business or for those who have already taken that fateful step. The title refers to the author's belief that entrepreneurs--typically brimming with good but distracting ideas--make poor businesspeople. He establishes an incredibly organized and regimented plan, so that daily details are scripted, freeing the entrepreneur's mind to build the long-term success or failure of the business. You don't need an M.B.A. to understand or follow its directives; Gerber takes time to explain buzzwords and complex theories. Read in a clear and well-paced manner, listening to The-E Myth is like receiving advice from an old friend. --Sharon Griggins

From Library Journal
Indicating that 40 percent of small businesses fail within their first year, Gerber, a small business expert, talks about how to be successful. In this revision of his 1986 book, he describes the "E-Myth," which basically states that a person with technical but few management skills can do well in business. Gerber describes developing a precise business system that produces consistent results because it has been tested and refined. He says that businesses thrive because of innovation, quantification, and orchestration. Visualize what is true success to you as a person, Gerber advises, and work from the ideal to the specific. While the author is a consumate salesman who reads his material in soothing tones, he offers too many abstract ideas and too few concrete plans. There is little useful content here. Not recommended.
Mark Guyer, Stark Cty. Dist. Lib., Canton, Ohio
Copyright 1995 Reed Business Information, Inc.

Ingram
The totally revised edition of a groundbreaking bestseller, first published in 1986, provides information and guidance in starting and maintaining a small business or franchise in the 1990s. By the author of Power Point. Read by Michael Gerber.

Customer Reviews

Danger in the Entrepreneurial Zone
This book deserves 7 stars for pointing out the fallacies of how most entrepreneurs operate. The book deserves 1 star for proposing a standard that most people cannot hope to meet. Pay attention to the former, and go light on the latter.

Gerber is correct that most entrepreneurs are limited by a comfort zone of wanting to remain in control as either strong technicians or managers, which limits the potential of the business. As soon as they exceed what they can handle, the business either fails in a break-out attempt or shrinks back to a simpler state. The new businesses that succeed the most are the ones that have a business model that is easy to replicate with ordinary people.

Where Gerber goes wrong is in suggesting that many people can develop such business models. I regularly study the top 100 CEOs in the country for stock-price growth, and few of them think they can develop a new business model. Why should someone starting up a new company be likely to do better than that? They won't. In fact, I have a friend who attempted to start a new business following Gerber's principles and almost failed before he adjusted to normal operating approaches. He spent so much time developing his business model that he never got around to operating it.

Gerber's three favorite examples are McDonald's, Disney, and FedEx. Notice that two of the three got most of their business model ideas from someone else (Ray Kroc from the McDonald brothers in San Bernardino, California and Fred Smith from an Indian air freight operation).

I think there is another fallacy here: You can get ordinary people to do simple things (deliver packages, cook and deliver cheap hamburgers, and smile at people on automated rides). But in many businesses the demands of the market are extraordinary such as in many technological product businesses and services. Microsoft has a business model, for example, but it is not one that Gerber would recognize.

Finally, he condemns people who want to operate their business as a job by being technically expert. What if Peter Drucker spent all of his time developing business models and systems to make pizzas and tacos rather than writing business books about management? What if great musicians developed business models for teaching children to play the violin and piano rather than performing? In other words, there is room and a need for extraordinarily able one-person companies run by technicians.

But don't let my quibbles keep you as an entrepreneur from failing to appreciate the excellent case Gerber makes for having a business model as soon as possible, and working systematically to improve it. If you can do that, you may well develop a true irresistible growth enterprise.

A book in a million
I have never been a full-fledged business owner although I worked for one as his business fell apart. Had he had this book I might still have that job.

Gerber takes his cue from the fact that most small businesses close after less than five years. You'd think that facing these odds the world would be full of books on the reasons why and how to avoid them, but this is the first one I've seen.

As you read you'll be struck by his understanding of the people who set up business, and also by the clarity of his solution. Yes, to some degree it's an advertisment for his consulting services, but there's plenty of advice.

I feel that a local business I frequent is beginning to enter a period of decline, and I wish I knew the owner well enough to give him a copy.

Incidentally, I didn't notice any of the problems other reviewers have mentioned, and in one case the book went right over the head of of one.

I expect to re-read this book several times, and I'm looking at some of the other Gerber titles.

Mostly Common Knowledge And Fluff
If you picked up this book to help you build your existing business or build a new one, you might be disappointed. Since your thinking of starting your own business, then you should know that most small businesses fail within the first five years. The author hits on some reasons why they fail but most of these you already know. Do you know that if you are not organized, if you don't change or create new ideas or plans and become stagnat or if you force yourself to do every task yourself, your business will be limited in growth and may eventually fail? Right there is the first 25% of the book fit into one sentence. Then he goes onto his love affiar with turn key businesses. But when he starts talking about his favorite business it should make a reader nervous. He starts talking about the great sucess of McDonalds fast food restuarant franchise. McDonalds is a great success and one to be looked at carefully but not for the reasons he points out. It's apparent he has not been in a McDonalds all that often. He mentions that at McDonalds they depend on consistancy at all their chains. For example the fries stay in the fryer for ten minutes "a soggy french fry is not a McDonald's french fry". At any McDonalds a customer knows what to expect. Then he goes into mention that this is why McDonalds chain resturant is more successfull than those businesses that depend on trade name recognition. I'm sorry this throws a red flag. People eat there beacuse it is fast and it is [not expensive}, not becuase of consistant service. They make a large profit because they keep costs down. I do believe that McDonalds spends a large budget on trade name recognition, I have seen many commercials for McDonalds within the last year; particularly with the Olympics. This whole section undermines the rest of the author's book. If you know that a large section is misleading or biased it makes it difficult to listen to the rest the ideas without already being judgemental. I admit that I am not the smartest business person but its clear Michael Gerber isn't either.