Summary of Michael E. Gerber's E-Myth Mastery

By IRB Media

Please note: This is a companion version & not the original book. Book Preview:

#1 The first and most important commitment to the extraordinary is personal. A true E-Myth entrepreneur on her way to building a World Class Company is committed to seeing herself as she really is, beyond the optimism, focused passion, and willingness to take risks that are common to all.

#2 The journey to find the entrepreneur begins with understanding what entrepreneurship is and what it means to you. It is not a trait, quality, or characteristic possessed by a rare few. It belongs to each and every one of us. It is a legacy, a birthright, which we are free to ignore, claim, or reject.

#3 The E-Myth is the entrepreneurial myth. It says that most small businesses fail because they are not founded by entrepreneurs, but by technicians, suffering from an entrepreneurial seizure.

#4 The E-Myth says that all technicians, anyone who does technical work of any kind, make the same fatal assumption: that because they understand how to do the technical work of their business, they understand how to build a business that does that work. However, this is untrue.

• Language: English
• Publisher: IRB Media
• Release date: Apr 20, 2022
• ISBN: 9781669387718

IRB Media

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Insights on Michael E. Gerber's E-Myth Mastery

Contents

Insights from Chapter 1

Insights from Chapter 2

Insights from Chapter 1

#1

The first and most important commitment to the extraordinary is personal. A true E-Myth entrepreneur on her way to building a World Class Company is committed to seeing herself as she really is, beyond the optimism, focused passion, and willingness to take risks that are common to all.

#2

The journey to find the entrepreneur begins with understanding what entrepreneurship is and what it means to you. It is not a trait, quality, or characteristic possessed by a rare few. It belongs to each and every one of us. It is a legacy, a birthright, which we are free to ignore, claim, or reject.

#3

The E-Myth is the entrepreneurial myth. It says that most small businesses fail because they are not founded by entrepreneurs, but by technicians, suffering from an entrepreneurial seizure.

#4

The E-Myth says that all technicians, anyone who does technical work of any kind, make the same fatal assumption: that because they understand how to do the technical work of their business, they understand how to build a business that does that work. However, this is untrue.

#5

There is a distinction between working in a business of your own and working on a business of your own. Most people who start a small business are technicians, moved by an all too short-lived entrepreneurial seizure. They think about their relationship to their business through the lens of working for someone else.

#6

The truth is that most small business owners don’t take vacations. They don’t have the time or energy to give their family what they want and deserve, and they don’t have the option of turning over their bank account to a stranger.

#7

The E-Myth is the entrepreneurial myth and the wonder of the entrepreneur. It says that Jerry and Peggy and Dr. Kaplan, and you, deserve much more than you’re accustomed to getting in your lives. You deserve More Life.

#8

Going to work on your business, rather than in your business, is the key to building a World Class Company. And going to work on your business needs to be learned. It is not simply doing it, doing it, doing it like Peggy did.

#9

To become a World Class Entrepreneur, you must become a World Class Entrepreneur. This takes an enormous amount of skill and practice. And without the intense and purposeful willingness to give yourself up to the down-and-dirty, nitty-gritty process of entrepreneurship, your creativity and determination will never take you where you want them to.

#10

The true entrepreneur is not only passionate about the enterprise he is there to create, but about the craft he is responsible for practicing. We have bought into the notion that entrepreneurs are born with a certain charisma and know-how that is unique, and that all they need to do is surround themselves with great people.

#11

The myth of the rock star entrepreneur is based on our desire to turn entrepreneurs into rock stars. However, every great entrepreneur knows that building a World Class Company is not show time.

#12

Passion is at the heart of entrepreneurial energy. It is a surge of energy that has nothing to do with commitment, determination, or a hardy hunger for getting what you don’t have. It is a strange thing that hurts, even while it's thrilling.

#13

Passion is the heart of the entrepreneur. It is what moves her, and she allows it. It is the force that brought you into this world, and makes it possible for you to keep going, wherever it takes you.

#14

The passion of the soul is what drives everything you do, but it is not the life force that chooses everything you do. To build a World Class Company, you must integrate these two life forces.

#15

We often let our passion down. We start a million projects, only to forget two days later, or three months, or a year, why we were passionate about them. We lose interest.

#16

The last time I saw Sarah, she was struggling with her business. She had made the commitment to herself to work on her business, not in it. She saw the wisdom of it and felt the excitement that came with it.

#17

I had become an E-Myth Maniac, measuring everything I could. My business stopped being all about work and started being all about development, growth, and becoming a big business. I had lost my sense