Thursday, June 16, 2011

Cliffs Notes of a Book Report | The E Myth

"Highly successful business people read, on average, 3 business related books a year. That means I'm going to read 3 a month." -Zach Gray

Ok, that may be more of a paraphrase than a quote but I figured it was close enough. When talking about executing the dream at the Gray Photography Workshops Z&J encouraged us put down our cameras, take a break from reading photography blogs and dig into some business books. I made a list (imagine that) and filled up my amazon shopping cart as soon as I got home.

Confession [Mom, please skip this part]: Senior year in high school I skipped writing a book report because I knew I'd still pass the class if I got a zero on the report. AND I did pass... with a C.

That's really bad and I can't believe I told you but I feel that my book review series needed a little preface. See, the bookworm gene skipped me. When I sit down to read my mind comes up with 100 other things I could be doing. I usually pick one and forget where I left the book. It's torturous because I've always wanted to be described as 'well read'.  Oil meet water.

So, why would I set myself up to write a series of book reviews on the blog? Because I believe in Zach's theory THAT much. Also, because I'll be writing them more like cliffs notes or top ten lists than as actual reports.

First on the list is The E Myth by Michael E Gerber.

"E-Myth n 1: the entrepreneurial myth: the myth that most people who start a small business are entrepreneurs 2: the fatal assumption that an individual who understands the technical work of a business can successfully run a business that does that technical work"

My review: 5 out of 5 stars.
This book is crammed with information but it doesn't come across as a text book. It's written as a story of Michael meeting and consulting a woman who owns a pie shop. He doesn't say that if you do A or B and C that you'll be successful, but he gives a formula for you to figure out what will work in your business.

Nuggets from the book...

  • Know your primary aim. Focus on it. Determine what you want your life to be and define how your business will get you there. 
  • Go to work ON your business, not in it. 
  • Set standards for how everything should be done. 
  • Use these standards to create your operations manual. 
  • Use your operations manual to set up your business as if it were a model for a franchise.
  • Think of your franchise prototype as a 'dojo'. A place you go to practice being the best you can be. 

I've been super busy putting the formula to work in my business. If you've read it I'd like to know how it's changed your business too. 

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