Book #2 of the IBB 12 Book Challenge : Michael Gerber’s “E-Myth Revisited.”
The number one thing that I took away from this was that most business owners become slaves to their work. I have to admit at times I feel the same way. However, here are the 3 ideas I took from this book in hopes to take action and create these ideas into habits to prevent being a prisoner to my work.
1. Death by Freedom
Gerber talks about how people go into business for the “freedom” and to be their own “boss.” The problem is that once they are in business, their “boss” is not equipped to run a business. People jump head first into opening a business in a fit of rebellion and rage against the structure and lack of “freedom” at their “employee” job.
From my experience, I have seen many people fail at their entrepreneurial dream, because of the freedom it provides, not the talent, knowledge, or vision of that person. They simply take every opportunity not to work, rather than to actually get the job done.
DO NOT BE FOOLED BY FREEDOM. It ALWAYS comes at a price.
2. Do you own a BUSINESS? Or do you own a JOB?
This was very eye-opening for me. It brought back a lot of memories of me working endless hours “in” my business, not “on” my business.
If you are working ON your business, you will be thinking of ways to actually develop a system that allows you to be away from the “job” and still produce the results you desire.
Gerber gives an example of a business owner who makes pies. Over time she built up her business to a few employees and an administrator, but eventually was back to just doing everything herself.
The challenge she faced is the same challenge most business owners face, we don’t trust anyone. We’re so caught up in the idea that, “If you want something done right, then you just have to do it yourself.” This is where we turn our dreams of running a business into nothing more than a job we cannot walk away from, because everything will fall apart.
Good help is indeed hard to find, but it is out there. Become a mentor to someone, not a boss, and help them grow their vision along with yours to start delegating things and building much-needed trust in those around you.
3. Make it so SIMPLE a KID could do it.
How do you make an extraordinary company from an ordinary commodity? SIMPLICITY!
The example Gerber used in the book was McDonald’s. Forget what they actually sell, etc. The SYSTEM that is in place has proven to be unstoppable. That is the number one thing we need to develop as business owners, a repeatable and more importantly profitable system that allows both you AND the client to win.
Here are some guidelines the book gave…
1. Focus on consistent value that EXCEEDS client expectations.
2. Place of impeccable order.
3. Uniformly predictable service to the client.
4. Operated by people with the LOWEST possible skill set necessary. (So easy a kid could do it remember.)
5. Document the model created so others have a reference manual of how to repeat prior success.
6. Uniform dress code.
…this is something that I personally need to dive deeper into. I’m looking forward to implementing some of these strategies into my business.
I hope this has been as helpful for you as it was for me. Look forward to all of your success and make it happen my friends!