Book Summary : The E-Myth Revisited


Ever wonder why most small businesses-- no matter how huge effort they put in their endeavor--still fail? Micheal Gerber reveals the answers in this book. Accordingly, the future of small businesses revolve in only three philosophies: the e-myth (entrepreneurial myth), the turn-key revolution, and the business development process.

The E-myth

The e-myth, or the entrepreneurial myth, evolved from one very fatal assumption-- that the success of every business is simply achieved by summing up the following: an entrepreneur's desire to own a business plus the certain amount of capital he puts in plus the knowing the amount of targeted profit.

Little did the entrepreneurs know that this assumption spell DISASTER rather than SUCCESS. Entrepreneurs need to learn to focus more on the business-the people involved in it and the phases it normally undergoes. Knowledge on these can save small businesses from experiencing entrepreneurial seizure-a stage wherein an entrepreneur goes through feeling of exhilaration, exhaustion, and despair.

Small businesses basically consist of three main characters namely: the technician (the doer and builder), the manager (the planner), and the entrepreneur (the dreamer, visionary). Moreover, small businesses have different life phases. These are: infancy (the technician's phase); adolescence (getting some help phase); beyond the comfort zone; and, maturity and the entrepreneurial perspective.

The Turn-key Revolution

As implied by the term itself, Turn-key Revolution speaks of the distinct transformations on the way businesses are managed and should be managed. One very prominent example is the introduction of McDonalds the idea of business format franchise to the business world.

The business format franchise has set dramatic turn around on the future of small businesses. Here, the franchisor entitles the franchisee to owning rights to his entire business system. This format is anchored on the belief that the real product of a business is its sales technique rather than what it sells.

The Business Development Process

The business development process is the response to the unending dynamism of the business world. It equips the entrepreneur with the necessary tools to preempt the continuous changes happening around. The process is comprised of three elemental stages: innovation, quantification and orchestration.

The business development program requires the following aspects to be defined: Your Primary Aim. The owner's primary aim should center on what he really wishes, needs and wants for his life. Defining this will push the owner to pursue his defined entrepreneurial dreams.

Your Strategic Objectives.

This contains standards that help the owner achieve his goals for his business. This should answer the question: What purpose will this serve my primary aim?

Your Organizational Strategy.

Business owners should learn how to appreciate the value of organizational structures. Some points to consider are organizing around personalities, organizing your company, and position contract.

Your Management Strategy.

As the owner you should recognize the truth that the successful implementation of a management strategy is not dependent on the people who could implement it but on the system instead.

Your People Strategy.

This refers to the approach you take towards your people and their work. To make people appreciate the work they do, you should make them understand the idea behind each of their task assignments.

Your Marketing Strategy.

Here is the stage where all attention suddenly shifts from owner to the customer. You set aside your personal goals first and start focusing on the customer's needs.

Your Systems Strategy. There are three kinds of systems in a business: the hard systems, the soft systems and the information systems. The hard systems refer to all those in your business that are inanimate and has no life. The soft systems refer to all those that could be living or inanimate. The information systems are everything else in the business that provides you with data relating to how the two earlier systems interact.

By: Regine P. Azurin and Yvette Pantilla http://www.bizsum.com "A Lot Of Great Books....Too Little Time To Read"
Free Book Summaries Of Latest Bestsellers for Busy Executives and Entrepreneurs Mailto:freearticle@bizsum.com

BusinessSummaries.com (c) Copyright 2001- 2005, BusinessSummaries.com">BusinessSummaries.com - Wisdom In A Nutshell

Regine Azurin is the President of BusinessSummaries.com, a company that provides business book summaries of the latest bestsellers for busy executives and entrepreneurs.


MORE RESOURCES:
Clive King, who has died aged 94, was the author of several children's books and is best known for Stig of the Dump, the original and imaginative fantasy story of the friendship between Barney, a boy of the modern era, with Stig, a boy from long, long ago who lives in a nearby chalk pit in a home created from things he can creatively and skilfully repurpose from waste, including a chimney from tin cans and windows from glass bottles....

Films based on books might have the intolerable disadvantage of people smugly claiming "the book is so much better", but they also result in a huge boost at the box office.

According to new research from the Publishers Association, films based on books take 44% more at the box office in the UK and 53% more worldwide than original screenplays.

..."In short, published material is the basis of 52% of top UK films in the last 10 years, and accounts for an even higher share of revenue from these leading performers, at 61% of UK box office gross and 65% of worldwide gross," the report reads.

The New York Times has a rare interview with Anne Tyler to coincide with the publication of her latest novel, Clock Dance. Tyler rarely does interviews because she dislikes the way they make her feel the next morning. "I'll go upstairs to my writing room to do my regular stint of work and I'll probably hear myself blathering on about writing and I won't do a very good job that day. I always say that the way you write a novel is for the first 83 drafts you pretend that nobody is ever, ever going to read it."

The good news for fans is that Tyler has no plans to retire: "What happens is six months go by after I finish a book," she said "and I start to go out of my mind. I have no hobbies, I don't garden, I hate travel. The impetus is not inspiration, just a feeling that I better do this. There's something addictive about leading another life at the same time you're living your own." She paused and added: "If you think about it, it's a very strange way to make a living."

The New York Times reports on the changing face of the romance novel genre:

...The landscape is slowly starting to change, as more diverse writers break into the genre, and publishers take chances on love stories that reflect a broader range of experiences and don't always fit the stereotypical girl-meets-boy mold. Forever Yours, an imprint at Grand Central, publishes Karelia Stetz-Waters, who writes romances about lesbian couples. Uzma Jalaluddin's debut novel, Ayesha at Last, takes place in a close-knit immigrant Muslim community in Canada, and features an outspoken Muslim heroine who falls for a more conservative Muslim man, a Darcy to her Lizzie Bennett...

...."Readers want books that reflect the world they live in, and they won't settle for a book about a small town where every single person is white," said Leah Koch, co-owner of the romance bookstore the Ripped Bodice in Culver City, Calif. Last year, six of her store's top 10 best-selling novels were written by authors of color, Ms. Koch said.

Michael Ondaatje's The English Patient (Bloomsbury), the story of an injured, anonymous English WWII pilot and his Italian nurse, has been named the winner of the Golden Man Booker Prize, awarded to the best work of fiction previously awarded the Man Booker Prize over the last 50 years.

In a brief statement released late Tuesday afternoon, Barnes & Noble said CEO Demos Parneros (who had been named CEO in April 2017) had been terminated for "violations of the Company's policies." While not saying what policies Parneros violated, B&N said his termination "is not due to any disagreement with the Company regarding its financial reporting, policies, or practices or any potential fraud relating thereto." In addition to being fired immediately, Parneros will not receive any severance, B&N said. B&N said Parneros's removal was undertaken by its board of directors, who were advised by the law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP.

In his first interview since being accused of inappropriate behavior with women, celebrated novelist Junot Díaz adamantly denied the allegations, including a claim he once "forcibly kissed" writer Zinzi Clemmons.

Díaz, who was awarded the 2008 Pulitzer Prize for his novel The Brief Wondrous Life of Oscar Wao, said he was "distressed," "confused," and "panicked" by the accusations, but insisted he had not bullied the women or been sexually inappropriate.

Harlan Ellison, a major figure in the New Wave of science fiction writers in the 1960s who became a legend in science fiction and fantasy circles for his award-winning stories and notoriously outspoken and combative persona, died this week 84. During his life, he wrote more than 1,700 stories, film and TV scripts. The Guardian recommends five of his best...

Donald Hall, a prolific and award-winning poet and man of letters who was widely admired for his sharp humor and painful candor about nature, mortality, baseball and the distant past, has died. He was 89.

Atlas Obscura explains the history behind the, arguably nonsensical, grammar rule about not ending a sentence with a preposition which, "all goes back to 17th-century England and a fusspot named John Dryden":

There are thousands of individual rules for proper grammatical use of any given language; mostly, these are created, and then taught, in order to maximize understanding and minimize confusion. But the English language prohibition against "preposition stranding"--ending a sentence with a preposition like with, at, or of--is not like this. It is a fantastically stupid rule that when followed often has the effect of mangling a sentence. And yet for hundreds of years, schoolchildren have been taught to create disastrously awkward sentences like "With whom did you go?"

...Born in 1631, John Dryden was the most important figure throughout the entire Restoration period of the late 17th century... Dryden twice stated an opposition to preposition stranding. In an afterword for one of his own plays, he criticized Ben Jonson for doing this, saying: "The preposition in the end of the sentence; a common fault with him, and which I have but lately observed in my own writing." Later, in a letter to a young writer who had asked for advice, he wrote: "In the correctness of the English I remember I hinted somewhat of concludding [sic] your sentences with prepositions or conjunctions sometimes, which is not elegant, as in your first sentence."

Dryden does not state why he finds this to be "not elegant." And yet somehow this completely unexplained, tiny criticism, buried in his mountain of works, lodged itself in the grammarian mind, and continued to be taught for hundreds of years later. This casual little comment would arguably be Dryden's most enduring creation.


thatware.org ©