The Review of the ideas in Michael E. Gerber's book: "The E-Myth Revisited" shows that not all small businesses are started by entrepreneurs. In fact, most of the businesses are started by technicians who enjoy hands-on work and making new products. Therefore, they are too focused on issues within the business, rather than the business as a whole. This summary explains how to make your company become a hands-on product and how to implement that process. And it highlights that in order to end as a mature company, you must also begin as one, at least in your thinking.

1. Why Most Small Businesses Don’t Work and
What to Do About It
Presented By
Bhavin Patel

2. Mastermind Credo
For Customers
We Will Always Work For The Need Of Micro, Small And Medium Enterprises
And For The Individual Entrepreneurs. We Will Always Learn & Upgrade And
Develop Our Capacities To Serve Them, To Empower Them, To Develop Their
Confidence And Make Them Successful And Happy In Life.

3.  Basic E-Myth concept
 Personalities of a small business owner
 Stages of Small Business – Infancy, Adolescence, Maturity
 A Turn-Key or Franchise Perspective
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4.  Michael E. Gerber is the Founder, Chairman and CEO of
EMyth Worldwide.
 He helped transform 70,000+ businesses in 145 countries
over the past 25 years.
 His book “The E-Myth Revisited”, has sold over 5 million
copies in 29 languages, and E-Myth methodology is taught
in 118 universities worldwide.
 Inc. Magazine has called Michael the "World's No.1 Small Business Guru."
Michael E. Gerber
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5.  Small businesses are started by entrepreneurs risking capital to make a profit.
 Entrepreneurs are people that notice opportunities and take the initiative to
mobilize resources to make new goods and services.
 Entrepreneurship is building a business from scratch, and turning an idea into
a profitable business.
 The real reasons most people start businesses have little to do with
entrepreneurship.
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6.  Person who start’s a business is generally a “Technician”
 He is working for somebody else and is probably good at it.
 Why am I working for this guy? If it weren't for me, he wouldn't have a
business.
 Once you were stricken with an Entrepreneurial Seizure, there was no
relief.
 You had to start your own business.
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7.  The Fatal Assumption
If you understand the technical work of a business, you understand a business that
does that technical work.
 The barber opens up a barber shop
This assumption is the root cause of most small business failures!
For the person suffering from an Entrepreneurial Seizure, a business is not a
business but a place to go to work.
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8.  Everybody who goes into business is actually three-people-in-one: The Entrepreneur, The
Manager, and The Technician.
The Entrepreneur (10%)
 The Entrepreneur lives in
future, he is the visionary.
 He grabs new opportunities &
seeks new markets.
 Given his need for change, he
unsettles those who works for
him.
The Manager (20%)
 The Manager lives in the past.
 In new opportunities he
invariably sees the problems.
 He hates change and
compulsively clings to the
status quo.
The Technician (70%)
 The Technician lives in the
present.
 The Technician isn't interested
in ideas; he's interested in“
how to do it."
 As long as The Technician is
working, he is happy, but only
one thing at a time.
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9.  The Technician, are free at last, a place to go to work, to be free from The Boss.
 Owner and the business are one and the same thing.
 Hours devoted to the business during Infancy are not spent grudgingly but
optimistically.
 The Master Juggler, begin to drop some of the balls.
 Infancy ends when the owner realizes that the business cannot continue to run the
way it has been.
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10.  Gets experienced technical help for the work that isn’t getting done.
 Management by Abdication rather than Delegation.
 The work is ultimately never done to the owner’s satisfaction.
 Taking back ownership of all the jobs from the employees and once again does them
himself.
 The adolescent business has just reached the limits of its owner’s Comfort Zone.
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11.  Once the business grows beyond the owner’s Comfort Zone, one of three
things will happen:
Getting Small Again : revert the business back to Infancy, when things were simpler,
where they did everything.
Going for Broke : The business continues to grow at an increasing rate until it self
destructs from its own momentum.
Adolescent Survival : The owner is strong willed and stubborn, and works
constantly, doing whatever it takes to survive.
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12.  Mature businesses began as mature businesses – they began with the end in mind.
 Thomas Watson, founder, IBM
 The Entrepreneurial Model
 looks at a business as if it were a product
 It has less to do with what’s done in a business and more to do with how it’s done.
 In short, for this business model of ours to work, it must be balanced and inclusive so that
The Entrepreneur. The Manager and The Technician
The Entrepreneur
Starts with a clearly defined
vision of the future, then
changes the present to match the
vision.
The Technician
Starts with the present and looks
forward to an uncertain future
with the hope of keeping it like the
present.
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13.  The best model for building a successful business is that it can be replicated.
 The maximum amount of time should be spent working on your business rather than
in your business.
 Less than 5% franchises fail on annual basis, or 25-percent in five years. On the other
end 80 % of independent business fail.
 Treating your business as the model for a future franchise system increases your
chances of success - whether you ultimately end up franchising your business or not.
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14.  To build a successful franchise, you need to obey these rules:
 This requires you to build a franchise model that is systems-dependent rather than personality- or
expert-dependent.
 All systems must be documented in a formal, written Operations Manual.
 Your model must be capable of being operated successfully by people that have very low skill
levels.
 Your model must deliver value that consistently exceeds the expectations of customers,
employees, suppliers and lenders.
‘‘Every great business in the world is a franchise.’’ -- Michael Gerber
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