Next up for review, The E-Myth by Michael Gerber.
I actually bought this book from my old roommate and heard great things about it, especially it being recommended by Timothy Ferris in The Four Hour Work Week.
As an entrepeneur looking to kickstart a business, I found this book very useful. It provided a lot of tools and strategies on how to build a successful business, and also what to avoid.
The book hit me hard with saying: “Your business is nothing more than a distinct reflection of who you are.”
If your thinking is sloppy, your business will be sloppy.
If you are disorganized, your business will be disorganized.
If you are greedy, your employees will be greedy, giving you less and less of themselves and always asking for more.
If your information about what needs to be done in your business is limited, your business will reflect that limitation.
So if your business is to change — as it must continuously to thrive — you must change first. If you are unwilling to change, your business will never be capable of giving you what you want.
There are a ton of amazing nuggets of information in this book that helped Lifestyle Transformations a lot.
Michael Gerber talks a lot about creating a franchise. You want to avoid creating a business that depends on you. As he says, “if your business depends on you, you don’t own a business — you have a job.” What happens if you’re sick, or on vacation? You see, your business can never depend on you.
He makes some good examples, one of which is with McDonalds. The McDonald brothers were approached by Ray Kroc, who simplified their whole system so that 15 year old teenagers could run the system by making minimum wage, while still providing customers with fast food at the same quality than it was made by the McDonald brothers. Incredible system.
Michael Gerber teaches you that you should work on your business, not in it.
Your business is not your life. He encourages you to ask yourself the question “How can I get my business to work, but without me?”
In The E-Myth, Michael Gerber goes into detail how to create a Primary Aim, Strategic Objective, Organizational Chart, Management Strategy, People Strategy, Marketing Strategy, and more! A lot of these things have been useful for myself, especially creating an organizational chart for Lifestyle Transformations.
If you’re an entrepeneur or looking to start a business, then I recommend reading The E-Myth by Michael Gerber. Click here to check it out on Amazon.
Stefan
Executive Coach
Lifestyle Transformations
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