About The E-Myth
In 1995 Michael Gerber wrote The E-Myth Revisited – a book which has become a business classic.
The book is aimed at owners of small businesses. It describes why most small businesses don’t work – and what to do about it. Small businesses don’t work in the sense that they usually fail to deliver the money or the lifestyle that the business owner wants.
Generally, small business owners get sucked into the detail of day to day ‘technician’ tasks. Like a hamster on a wheel they feel forced to keep on running. Otherwise the wheel might stop and the business might fold. And anyway, what’s the alternative?
The E-Myth (E stands for Entrepreneur) brings a message of hope. There is another way. Michael Gerber explains that small owners need to spend less time working IN the business and more time working ON the business.
Working ON the business means taking strategic steps in line with a long term plan to create a ‘turn-key’ business.
By working ON the business, the business owner can create a business that works without them. They can get off the wheel and it keeps on turning. The business can become a source of ‘passive income’ or ‘residual income’ in the way Robert Kiyosaki describes.
The business moves from Kiyosaki’s S quadrant to the B quadrant.
In this way a business can give the business owner more choice as to how to spend their time. They can take more time off, go travelling, spend time with their family – live the life they really want. |
