The E-Myth Revisited by Michael E. Gerber

The E-Myth Revisited by Michael E. Gerber

Lesson Details:
March 03, 2020

Video Transcription: In this video I wanna introduce you to another one of some of the most classic intrapreneurship books of all time and this is the e-myth revisited if you're a young person the e-myth is not like I'm is like an iPhone it's the intrapreneurship myth when I show this book and by no way selling it because I don't profit from it at all I'm just introducing the book but you see it's got almost 2000 reviews on Amazon and it is really one of the cornerstone business books so let's go over what this book covers it was originally published in 1990 and republished in 2004 that's the revisited part and it talks about three roles in a company the technician person who can do the job and that technician they can do a job for example if you can write code or if you can fix a home and do home repair or if you can cook sometimes the technician thinks that they can run a business and that's the EE myth that it takes more skills this book teaches the technician to become a manager who can run the business and do marketing and be a leader and create organization and do management and most people in this course they will be a technician somebody who can do a skill maybe you can design something maybe you can write maybe you can do anything but you haven't built a business on top of that skill yet that's why you're taking the course and that's what this book covers so the book explains how the technician can become a manager and tries to give them that those skills and then after you've got those skills the book teaches you how to become an entrepreneur but my interpretation of the book is that this particular book uses the word intrapreneur almost like the word leader is used today because that leader is the one that helps to grow and scale the business and motivate others and also the book talks about creating replicable business systems so that other people can just come in and just reproduce the business system so that you don't have to manage everything and the book talks about 3 business stages.

The initial business startup stage is precisely when the technician is needed because in the beginning you're gonna be the one gaining the clients doing the work but as the business grows you're gonna expand and you're gonna need to know how to manage this business you're gonna need to know how to manage people and hire and get those skills and then as the business matures which is the third stage of the business the intrapreneur and leadership skills are needed so that you can create leaders beneath you who can motivate teams and lead teams and really create a well-oiled machine so you see how this book takes almost a free startup company with just a person a night and skills and an idea and can guide that person to every step needed to the maturity and growth stage of the business so that's what this book covers and the real reason why most people remember this book is that it explains the failure point of early-stage companies why do people fail because the technician when the technician can do the job they cannot yet do the business of this business like the marketing the leadership the management the organization can only do the skill and most people cannot come out of their comfort zone beyond just doing the job into learning all these skills that's the fault point and that's the e-myth people think because they can do the job they can do the business but they cannot so they have to learn these additional skills that's the major takeaway of this book and in my belief what's made it so important for entrepreneurs to understand and once you understand it you can go aha idea moment I'm gonna learn these other skills and again become more than just somebody who can do the job and learn the marketing and all that stuff so that's email through visited really good book for entrepreneurs.

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