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, 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
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
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
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
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
"A Lot Of Great Books....Too Little Time To Read"
Free Book Summaries Of Latest Bestsellers for Busy
Executives and Entrepreneurs
(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.
The 2017 PEN Literary Awards will be presented at the Beverly Wilshire Hotel on October 27, with the Lifetime Achievement Award going to Margaret Atwood.
The honorees are:
Fiction: Black Sheep Boy by Martin Pousson
Creative Nonfiction: When Breath Becomes Air by Paul Kalanithi
Research Nonfiction: The Perfect Horse by Elizabeth Letts
Poetry: Look by Solmaz Sharif
Young Adult: Outrun the Moon by Stacey Lee
Translation: Confessions by Rabee Jaber, translated by Kareem James Abu-Zeid
Journalism: The White Flight of Derek Black by Eli Saslow
Drama: Roe, by Lisa Loomer
Annie Proulx will receive the National Book Foundation's Medal for Distinguished Contribution to American Letters at the awards ceremony on November 15. Anne Hathaway (who starred in the film adaptation of Brokeback Mountain) will present the award.
CNN reports on "the world's coolest bookstores from London to Los Angeles."
Bookstores, libraries and other organizations across the USA are preparing for Banned Books Week 2017, which runs next week, September 24-30. Shelf Awareness takes a look at what some stores are planning...
David Lagercrantz, who continued Stieg Larsson's Milllennium series after the latter's death in 2004, has stated that he will write just one more book in the series, to be released in 2019. This would bring the series to six books - three by Larsson and three by Lagercrantz.
In an op ed for the New York Times, Matt A.V. Chaban, policy director for the Center for an Urban Future, discusses how libraries in New York City, and potentially, in cities across the country, could find much needed funds to modernize and stay relevant for the long term through partnerships with housing and office developments:
"In 2014, the city selected the Fifth Avenue Committee to undertake the novel task of redeveloping the Sunset Park branch. There, an eight-story building will rise, with the first two floors dedicated to a library 75 percent larger than the one there now. The floors above will have 49 apartments, all of which will be rented to low- and middle-income families in perpetuity.
Imagine if the city did the same at the branch in Corona, Queens, where cramped quarters force study groups to huddle on the floor; or Red Hook, Brooklyn, where families from the nearby housing projects are eager for more job training; or Brighton Beach, Brooklyn, where rising sea levels and storms like Sandy threaten its very operations."
Two TV series based on books scooped the top honors at last night's Emmy Awards:
The Handmaid's Tale won five awards including best drama series, best actress for Elisabeth Moss and best supporting actress for Ann Dowd.
Big Little Lies took five prizes in the limited series categories, including wins for Nicole Kidman and Laura Dern.
James Hohmann, national political correspondent for The Washington Post and author of The Daily 202, leads Monday's issue with a look at the many books Hillary Clinton turned to after her election loss:
"What Happened was quickly strip-mined for political nuggets after its publication last Tuesday. As I went through it over the weekend, though, what struck me most was how the wounded Democrat coped after her crushing defeat last November.
In short, Clinton has read voraciously and eclectically for escape, for solace and for answers.
The collection of works that she cites across 494 pages showcases a top-flight intellect and would make for a compelling graduate school seminar..."
The widow and the biographer of the beloved British children's writer Roald Dahl told the BBC in an interview this week that Charlie Bucket, the young boy whose life is changed by a golden ticket in Charlie and the Chocolate Factory, was originally supposed to be black.
Mrs. Dahl made the remark during a conversation with Donald Sturrock, her husband's biographer, on BBC Radio 4's "Today" program. "It was his agent who thought it was a bad idea when the book was first published to have a black hero," Mr. Sturrock said. "She said people would ask why."
After a nine month dispute, Manhattan's Federal District Court has ruled that Matthew Lombardo's theatrical parody, Who's Holiday! a dark and decidedly adult sequel of sorts to Dr Seuss's How the Grinch Stole Christmas does not violate the copyright of the original story.