The entrepreneurial myth is that most small businesses are started by entrepreneurs. Not so, says Michael E. Gerber, most are started by technicians who enjoy hands-on work and making new products. Therefore, they are too focused on issues within the business, rather than the business as a whole. Gerber proposes an ingenious solution to this problem: the owner should look upon the business as a prototype that they want to expand in the future. In this way, the company itself becomes the hands-on product.
In The E-Myth Revisited, Gerber shows how to implement this process, using examples from successful business leaders. As Thomas Watson says, "[w]e didn't do business at IBM, we built one." Gerber explains how to develop a franchise mentality, and how much of your resources should be spent on each sector of your business. He suggests what type of management systems should be put in place as your business grows.
His argument is a simple one: in order to end as a mature company, you must also begin as one, at least in your thinking. The theories and strategies within The E-Myth Revisited have been proved effective by a number of large, successful businesses.
