The first book I have chosen to write about is the first business book I ever read. The book was introduced to me in college in an entrepreneurial seminar class. Interestingly enough, I reference it to this day, so I feel its a good starting point.
Scoring Criteria [5 star]
[slide1]Readability – Can you get through it, is it broken up for fast skimming, quick access to key points?[/slide1]
[slide2]Millennial (M.Factor) – Is the information trendy or can I pick this book up in 10 years and still get something from it?[/slide2]
[slide3]Notability (N.Factor) – Does the book have strong quotes, or good points to focus discussions around? [/slide3]
[slide4]Organic (O.Factor) – How much of the content seems original vs regurgitated trendy talk? [/slide4]
[slide5]Recommendation – Overall rating [/slide5]
Title: The E Myth Revisited – Why Most Small Businesses Don’t Work ….
Author: Michael E. Gerber
Amazon Price: ~$10.00
[quote_left author=”Michael Gerber”]
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.
[dropcap]T[/dropcap]he E Myth is about entrepreneurship. It’s about how to prepare yourself to be successful in business. Its about the small things that people and entrepreneurs forget or ignore. Some of the principles taught here don’t go into depth the way that I would have liked, but the topics introduced are worthy of additional investigation and application. To put it in the author’s words, “This book is a guide for those who see the development of an extraordinary business as a never -ending inquiry, an ongoing investigation, an active engagement with a world of forces, within us and without, that continually amaze and confound the true seekers among us with awesome variety, unending surpirses, and untold complexity.”
[quote_right author=”Michael E. Gerber”]
Innovation continually poses the question: What is standing in the way of my customer getting what he wants from my business.
[/quote_right]1. “Primary Aim”
I’ve shared this concept and principle with a number of friends and colleagues. Life is about your primary aim – what you want your life to be. Business is just an appendage to that life. Choices you make will shape the opportunities and obstacles you will have in achieving your personal aim. But; in the end, you will drift aimlessly and find yourself lost in many aspects of life, if you don’t focus on yourself first.
2. “Turn-Key Revolution”
Model your business [create processes] that require the lowest possible level of skill. Yes, that’s right – lowest! You’ll have to read more about the rational behind the concept; but the point is, if you can design your business to be easily replicated, you will have built a model that has greater opportunity to succeed. In essence, “Work on you business, not in your business.”
The model will:
- Provide consistent value to your customers, employees, suppliers, and lenders, beyond what they expect.
- Operated by people with the lowest possible level of skill
- Stand out as a place of impeccable order
- Be documented in operations manuals
- Provide a uniformly predictable service to the customer
- Utilize a unifrom color, dress and facilities code [Brand]
3. The Entrepreneur, The Manager, The Technician
The owner of every small business has a multiple-person disorder. This disorder can destroy the business. [We’ll talk more about leaders issues another time] This book outlines the big dilemma that goes on inside the small business owner. In short:
- The Entrepreneur: Turns the most trivial condition into an exceptional opportunity. The Entrepreneur is the visionary in us. The dreamer.
- The Manager: Is pragmatic. Without the manager there would be no planning, no order, no predictability.
- The Technician: Is the doer. “If you want things done right, you do it yourself” is the technician’s credo. The Technician loves to tinker.
[quote author=”Michael E. Gerber”]If the Entrepreneur lives in the future and the Manager lives in the past, the Technician lives in the present.” [/quote]
[quote_left author=”Michael Gerber”]
The Business Development Process is that which enables you to preempt the world’s changes. It hopefully precedes them, anticipates them, and if not, at least is infinitely flexible in relationship to them.
[/quote_left] “The commodity isn’t what’s important – the way it’s delivered is,” says Gerber. Gerber focuses a lot about building a business model with sustainable, but changeable processes. Most important is the end result is something the customer needs and wants. I think the trends of time will show that we as consumers will care less about feature lists, and more about usability. The delivery of services and products will trend toward simplicity not complexity.
Great book for any entrepreneur in life and business.