The World's Best Book Summaries
What business stages must entrepreneurs understand and navigate? What are the risks of each phase? In The E-Myth Revisited, Michael E. Gerber describes three business stages: infancy, adolescence, and maturity. He explains the characteristics—as well as the risks—of each. Business owners must learn to navigate these phases. Keep reading to learn about the three business stages of E. Gerber.
What start-up roles are necessary for your business to grow? What mindset should a small business leader adopt from the start? In The E-Myth Revisited, Michael E. Gerber argues that a small business owner should assume three roles or mindsets: entrepreneur, manager, and technician. He describes the key characteristics of each start-up role and discusses how they must balance—rather than compete with—each other. Read more to learn the three crucial start-up roles for your business.
What is the Entrepreneurial Myth? What’s the truth about starting and growing a successful small business? The E-Myth Revisited is a classic business book by Michael E. Gerber. The E-Myth stands for “the Entrepreneurial Myth.” Gerber explains how you can undermine your new business by focusing solely on the product and just trying to work harder. The right approach is to view your business like a franchise—to systematize operations so that it no longer relies on you. Read more to learn about the Entrepreneurial Myth.
What can small business leaders learn from the E-Myth book? How can it give a business a better chance to succeed? In The E-Myth Revisited, Michael E. Gerber explains how focusing solely on the product—and just trying to work harder—undermines new businesses. The right approach is to view your business like a franchise—to systematize operations so that it no longer relies on you. Read more to learn the primary principles from the E-Myth book.
What is a business format franchise? How did Ray Kroc innovate franchising to create huge success? In The E-Myth Revisited, Michael E. Gerber discusses Ray Kroc’s business format franchise, a template that’s been widely adopted by other companies. He shares the key to McDonald’s success, and he offers insights into how you might succeed by doing what they do. Read more to learn about the business format franchise template.
What is the entrepreneurial model for business? Do you have the mindset of an entrepreneur? In The E-Myth Revisited, Michael E. Gerber asserts that a successful business owner embraces an entrepreneurial model—a business model with measurable steps, a guiding vision, a defined structure, and functional systems. Another key to success is an entrepreneurial perspective, which keeps the focus on the business rather than the work. Read more to learn about an entrepreneurial model and mindset.
Do you want to know how to build an effective team? How can you ensure your team is motivated and positive? Knowing how to build an effective team is essential for any leader because an effective team is much more likely to succeed with any project or goal you set for them. Build an effective team by fostering positive energy and uniting everyone under a shared vision. Find out how to build an effective team below.
Do you have a personnel plan for your business? Do your employees find satisfaction and success in the work they do for your organization? In The E-Myth Revisited, Michael E. Gerber explains what an effective personnel plan looks like. He shows how to see your work environment and rules as a game, which helps set people up for success and satisfaction in their work. He also provides tips for an effective hiring process. Read more to discover what comprises an effective personnel plan.
What is a chief energy officer? How can becoming one improve your leadership skills? A chief energy officer is someone who shares positive energy with those around them. Anyone can be a chief energy officer, but leaders, in particular, can benefit. Being a chief energy officer makes you instantly more likable, inspirational, and persuasive—making you a better leader. Find out more about being a chief energy officer below.
Are you facing a business crisis? Do you feel like you’re losing control? In The E-Myth Revisited, Michael E. Gerber shares three actions you should avoid in a business crisis. Then he offers a solution: get out of your comfort zone and take on new identities by developing new skills. As your business grows, you need to grow. Read more to learn what to do (and what not to do) in a business crisis.