Summary of “The E-Myth Revisited” by Michael E. Gerber
Rethinking Small Business
Why Most Small Businesses Don’t Work and What to Do About It?
“The E-Myth Revisited” by Michael E. Gerber is a seminal book that challenges the myths surrounding starting your own business and shows how commonplace assumptions can get in the way of running a business. This summary aims to provide you with key insights and actionable advice for avoiding the pitfalls that cause many small businesses to fail.
The Entrepreneurial Myth
Gerber starts by debunking the “Entrepreneurial Myth,” which is the belief that most businesses are started by people with strong business skills. In reality, most are started by “technicians” who know how to do the technical work but not necessarily how to run a business.
The Three Personalities: Entrepreneur, Manager, Technician
According to Gerber, every business owner embodies three personalities: the Entrepreneur, the Manager, and the Technician. The Entrepreneur is the visionary; the Manager is the planner; the Technician is the doer. The key to a successful business is balancing these three roles.
