ESYB2 087 - Michael E Gerber E-Myth Revisited
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[00:00:00] In this video, I want to introduce a very famous business book, which will help you understand how to build business systems from scratch. The book is called E Myth Revisited. It's the intrapreneurship myth. 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, 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 E myth that it takes more skills. This book teaches a 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, they will be a technician. somebody who can do a [00:01:00] 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. 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 entrepreneur, 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 three business stages. The initial business startup stage is precisely when the technician is needed because in the beginning you're going to be the one getting the clients and doing the work.

But [00:02:00] as the business grows, you're going to expand and you're going to need to know how to manage this business. You're going to 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 entrepreneur 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 pre startup company with just a person 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 [00:03:00] 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 once you understand it, you can go, uh huh, idea moment. I've got to learn these other skills and become more than just somebody who can do the job and learn the marketing and all that stuff. So that's e myth revisited. Really good book for entrepreneurs.

