Michael R

Review From User :

This book tells how to get your business to run without you. It shows how to work on your business, not in it. It explains how to get your people to work without your interference. It tells how to systematize so the business could be replicated 5,000 times. It shows how to do the work you love rather than the work you have to do.

The E-Myth (Entrepreneurial Myth) is that businesses are started by entrepreneurs seeking profit. In actuality, businesses are started by technicians (employees) who decide to work for themselves. The problem is they understand the technical work, not the business itself.

Gerber explains that we're all composed of 3 personalities. For your business to succeed, you must play each role:
1. The Entrepreneur: a future-focused visionary who pursues opportunities
2. The Manager: a past-focused worrier who plans and organizes
3. The Technician: a present-focused worker who concentrates on the task at hand

I had heard about The E-Myth and Michael Gerber in several places, and finally decided to read it when a successful business owner I respect recommended it so I could learn how to work on my business, not in it. I've worked towards this for my web design agency, OptimWise.

As I re-read this book, I recognized much of the guidance my business coach, Seth Getz, has used. Seth was trained by Gerber.

Gerber is at times long-winded and repetitive.

Most businesses are operated according to what the owner wants (a place to work freely), not according to what the business needs (growth and change).

If your business depends on you, you don't own a business, you own a job.

Franchise Prototype
Build your business as if it was the prototype for thousands of franchises. Attributes:
operated by people with the lowest possible skill (not necessarily unskilled, just lowest possible)
a place of impeccable order
all work documented in operations manuals
provides uniformly predictable service to the customer

Give your customer the service he wants systematically, not personally. Create a business whose results are system-dependent, rather than people-dependent. Create a system of experts instead of being the expert.

Your product is the feeling of the consumer has when they buy from you, not the commodity you sell. How the business interacts with the consumer is more important than what it sells.

Don't "find a need and fill it." Find a perceived need and fill it. This requires knowing your ideal customer's psychographics.

Power Point Selling
1. Appointment Presentation: Set an appointment. Get the customer's emotional commitment by describing your product (feelings it gives customer) not the commodity (actual good or service).
2. Needs Analysis Presentation: Show the customer their frustration and how you can relieve it.
3. Solutions Presentation: Provide the rational armament to back up the customer's emotional commitment. Give the details of your product, and ask for the sale.

Selling isn't about closing, it's about opening; opening the customer to feel their frustration, and see the solution you can provide.

Media Size : 1.6 MB