The E-Myth Revisited by Michael Gerber

1852 Words4 Pages

The E-Myth Revisited by Michael Gerber was an exceptional books the shows the truth about starting a business in our country and explores in-depth components that will create the success or failure of a small business. It examines the fallacy that entrepreneurs are the ones who start small businesses risking capital to turn a profit. This book explains that the Turn-Key Revolution is changing all aspects of a small business ultimately leading to the survival of a small business in our country. At the core of this revolution in a process called the Business Development Process, which when applied properly, has the power to change any small business into a successful business. The importance of this process in related to every take preformed at a small business, and when implemented the organization will remain relevant. If this process is ignored then the small business will ultimately fail. The Business Development process can be applies to any small business to which is created or currently in existence, as it relates to the knowledge of the Turn-Key Revolution to the operation of small businesses. This process results into a predictable way to turn any small business into a success, only when the proper attention and time is give to this process.

First when examining the E-Myth it must be considered that most new small business are started by technicians or people who are skilled at what they enjoy doing in their life. Therefore, they result in realizing why not work for themselves and be their own boss. Their mistake is that if you understand the technical work of your trade of choice, does not necessarily mean that they understand the business which they create based on their skilled trade. What can be considered an Entrep...

... middle of paper ...

... their money to turn a profit. Being an entrepreneur and starting a business does not mean that the person knows what they are doing, and most of the time they are just defending their ideas until they ultimately fail. They spend most of their time in the business and not on the business, and in return if they do not realize this they will fail as well. By being an entrepreneur, it can be easy if you follow all the guidelines listed in this book, and there will be success in any business which has been started. For some entrepreneurs their minds are consumed by their ideas, without wanting to listen to others, failure will be in the imminent future. Therefore after reading this book it is evident that an entrepreneur must follow these concepts and processes in order to overcome this problem among entrepreneurs in society, and by doing so they will achieve success.

Show More
Related

  • If You Want To Help Someone Shut-Up And Listen By Ernesto Sirolli Summary

    1020 Words  | 3 Pages

    Those three things are confidentiality, committed service, and the true about entrepreneurship. The true about entrepreneurship is the produce you wish to sell has to be great, you must have good marketing, and you must have skillful financial management. I identify most with the financial part of being an efficient entrepreneur. I have always seemed to be handle and deal with money well since a young age, and I see where this is very important in business. I am not surprised that one person cannot start a successful business on their own. No one has every started a company on their own. Its takes more than one person to have the skills required to run a productive business. When someone is trying to help, they need to learn what the people need help with rather than assuming they know what the problems are. A holistic perspective is that no part of culture can be completely understood alone. What does not seem like a normal method to one person from one area, maybe the best way to do something in another area. This is why listening is so important when trying to help others to see what they need instead of

    Read More

  • Why Is Koch Important

    1100 Words  | 3 Pages

    In the modern world, it is very important to earn some money for fulfilling one’s basic needs. People involve in themselves in various occupations to earn their living wages. We also see a lot of people who get into entrepreneurship or any other business so as to work independently. And, only few with utter dedication and determination turn their business into a huge one, not only earning their income, but also employing thousands of people. Their success stories are truly inspirational.

    Read More

  • Canadian Entrepreneurial Culture

    868 Words  | 2 Pages

    Government has taken a deliberate strategic direction to develop the small business sector and promote entrepreneurship as an instrument of growth and employment generation, particularly in those segments of society the hardest hit by recession, structural adjustment and the recent global economic crisis. Enhancement of the economy has continued to be a goal of the public and private sectors of Trinidad and Tobago. For example, the Small Business Enterprise Sector is perceived to be the engine driver to radically transform and diversify the local economy. Thus, an entrepreneurial culture is the thing that most organizations ought to strive

    Read More

  • Reasons for Small Business Failure

    1669 Words  | 4 Pages

    Small businesses have been considered the mainstay in countries around the world. In many European countries for example, the small business has been considered crucial to the success and flourishment of the country in general. Most individuals start upon a small business venture in the hopes of realizing ownership, independent profits and personal success. Small businesses can prove extremely successful when planned properly. Studies suggest that several small businesses, however, close or fail within the first few years of operation. This failure suggests that a majority of small business owners may not have as yet realized the crucial success factors necessary for successful implementation of a small business.

    Read More

  • The Importance of Implementing Business Management Process within a Company

    2140 Words  | 5 Pages

    In todays modern era , the competion in this global market between the companies is getting harder and making difficult for small business companies to survive. Every business requires developing an effective and efficient strategy to survive in the dynamic business environment. So it is important to form a strategy and implement it by using business proces...

    Read More

  • The Impact Of E-Business

    1822 Words  | 4 Pages

    In this write up the focus is mainly on e-business. It consists of critical discussion and analysis of the impact of adopting e-business orientation. It also contains relevant information on the current state of e-business market.

    Read More

  • Characteristics of Successful Entrepreneurs

    1006 Words  | 3 Pages

    Most successful entrepreneurs are have a passion for their product or service as well as a desire to solve a problem and make life easier, better, cheaper (10 Qualities of successful entrepreneurs, 2010). Their desire to be an entrepreneur is mostly due to in internal factor rather than an external such as money.

    Read More

  • Entreprenehipial Process: The Four Steps To The Success Of An Enterprise

    1131 Words  | 3 Pages

    To be a successful entrepreneur, there are steps that one must follow when starting a new enterprise. These steps are termed as the process of entrepreneurial which is the systematic method of preparation of an enterprise that consists of four steps. The four steps are fundamental to the success of an entrepreneur venture. The four entrepreneurial processes includes discovering, assessing and opportunity, developing a business plan, establishing resource needs, and managing the resulting enterprise (Barringer & Ireland, 2010). Each individual step is vital for the start of an entrepreneur venture and for an entrepreneur to achieve their entrepreneurial goals. This paper will discuss the four steps of the entrepreneurial process,

    Read More

  • The Challenges Of Entrepreneurship

    1682 Words  | 4 Pages

    Have you ever wondered about the challenges that new entrepreneurs face in today’s ultra-competitive business world? Entrepreneurship is accompanied by a host of issues, and for new and young entrepreneurs, there are some harsh challenges that are exceptionally tough to conquer. Some of these challenges may include: abandoning another career; lack of finances; facing criticism; team building; business idea issues; inability to market the business; not knowing how to plan a business; loneliness; rule-making; decision-making; and understanding the legal themes. Finding a stable place in the business world depends on the entrepreneurs’ ability to overcome obstacles that may arise throughout the journey. They should prepare themselves for the following challenges they might face as young, new entrepreneurs.

    Read More

  • The Entrepreneur

    3031 Words  | 7 Pages

    Driven by an intense commitment and determined perseverance, entrepreneurs work very hard at what they do. They excel and want to win. Entrepreneurs are amazing people with a high respect of character. They use their mistakes as something to learn from rather than a failure. No matter the outcome, they believe in themselves and have an extreme confidence not only in themselves, but also in what they do.

    Read More

  • Essay On Being An Entrepreneur

    862 Words  | 2 Pages

    1. WHY? Develop your "why". As an entrepreneur, not all times you have in business will be perfect. In fact, there will be many, many difficulties along the way. However, if you can develop your why, you can achieve success. Your why must be this personal, passionate, emotional drive that keeps you going, when the world tells you to give up. It is the reason you commit and work so hard. Pushing on when it seems all the odds and world is against you. Your "why" becomes your driving will to wake up and do it again tomorrow.

    Read More

  • Essay About Entrepreneurs

    714 Words  | 2 Pages

    Many people dream of becoming entrepreneurs someday. But it made me realize that there other factors that needs to be taken into consideration. We need to ask ourselves are we ready to take the challenge to the outside world. Not everyone have the vision, innovation and creativity to become an entrepreneur. The individual must have a positive attitude and accept the responsibility, have discipline to meet their goals, and take action when the opportunity presents itself. Many prefer a job security and rely on a weekly paycheck, while entrepreneurs will take risks and doesn 't have that luxury to know the amount of their income.

    Read More

  • Technology And Business Technology: The Aspects Of Technology In Business

    1091 Words  | 3 Pages

    But on the other hand, one thing is clear that technology cannot completely run the business for you, it can help you in managing the business, flourishing it, providing latest ideas for improvement. Yet human brain and efforts are very important on its end. You cannot expect only technology to work for you. Emails, projectors for presentations, robots for factories are some simple examples of technology and business relationship. In this article, we will be doing an analysis of five technologies revolutionizing small businesses.

    Read More

  • What Are The Importance Of Entrepreneurship?

    1844 Words  | 4 Pages

    Entrepreneurship is an important aspect of social, economic and community life. It can be viewed as a critical factor to economic growth as well as a way of addressing unemployment (Nolan, 2003).Entrepreneurs are people who are persistently focused on identifying opportunities, they seek to create something worthwhile while taking into account foreseeable risk and rewards associated with the efforts (Nolan, 2003). Furthermore, entrepreneurs are frequently understood to be individuals who discover market needs and establish new business to meet those identified opportunities. The following assignment will firstly discuss the types of entrepreneurship, secondly it will discuss the reasons people become entrepreneurs, and thirdly it will discuss the importance of entrepreneurship.

    Read More

  • Reflection About An Entrepreneur

    1110 Words  | 3 Pages

    We learned a lot of things in this course, but I think the most important lesson I learned is that it’s not easy to be an entrepreneur. I was surprised to hear in the first class that 80% of startups fail, but after reading The Art of Start and E-myth Revisited I understood why this happens more often than one might expects. Some people start their own businesses for the wrong reason and some start with wrong mindset. I’ve always thought that if someone has a brilliant business idea and hardworking they will succeed and grow their business. However, now I know that there are many things to consider before starting any business. In fact, there are many strategies that an entrepreneur could follow to achieve success, such as know your customers, work “on” the business, and how

    Read More

More about The E-Myth Revisited by Michael Gerber

Open Document