Literary Analysis Essay on The E-Myth

Introduction

The author of the book, Michael Gerber, goes through the primary reasons why most businesses fail from more than 40 years of experience. The overriding theme is how to create a successful business such that it can operate autonomously, which is an important distinguishing factor between having a business and a job. According to Gerber, the purpose of starting a business is to become free of a job so that one can create jobs for others. The book offers various lessons of how small business owners can improve their chances of success.

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One of the things I learned from the book is that entrepreneurs should be open and ready for dynamic roles. A person's business is a reflection of who they are. It is a crucial lesson that will help me in my future entrepreneurial endeavours. If a person is not willing to change and remains rigid, their business is also likely to remain the same. Unlike employees, who mainly have a single duty, entrepreneurs must wear many hats, such as being a manager, entrepreneur, and technician at the same time. According to Michael, managers focus on the past activities which worked for the company, the technician applies the skills in the present, while the entrepreneur is lives in the future by being ambitious.

The book also taught me the importance of balancing activities to ensure no part of the business is neglected. When one starts a business, they have a clear idea of the growth plan and strategy. However, as the business progresses, it will start to attract clients, and this is the stage where one can easily get side-tracked and become a worker rather than an entrepreneur. Working on the clients' orders takes time away from focusing on the course and future of the business. Michael Gerber suggests that one should always remember their role as CEO, and keep working on the vision to ensure positive growth. Focusing on servicing the clients will make one a worker instead of a businessperson. In my business, I will ensure that I have sufficient time to concentrate on my business strategy.

I have learned the importance of building a business on a franchise system from the beginning. Success in business is achieved when one bases their business on replicable systems instead of people. This lesson implies that a business idea should be capable of being replicated in a different place and work similarly to the original, which frees an entrepreneur to focus on other aspects of growing the business. As small entrepreneurs, it is crucial to establish systems, processes, and workflows which can be duplicated by employees with basic skills. Many small businesses fail because the owners build the business around themselves, in the assumption that they will always be the technicians. As an entrepreneur, this lesson helps me since I will start my business with a franchising model in mind.

The book also taught me the importance of creating a customer experience in the business. Entrepreneurs should focus on certain a brand that sticks to the minds of the customers. According to Michael, the most crucial factor in business is not what one is selling, but how it is presented to the market. Proper presentation is the foundation of a brand, and hence new entrepreneurs should focus on creating a logo, customer service method, store display and coloring, as well a product packaging. Customers will remember a company based on their experience, and branding is a sure way of creating it. I will ensure that my business is well branded from the onset to ensure that it creates an impression on customers.

Conclusion

Many new businesses in America are failing at a staggering rate, with 40% of them failing within the first year, and 80% within five years. Michael Gerber has written this book specifically for new entrepreneurs, who are often the technicians. The teachings can be applied by future entrepreneurs to ensure the survival of the businesses, and hence success.