One evening, I was perusing my stacks, pulling books out to look at their covers, hoping to find the “perfect” book to read next.
Literally, The E-Myth Revisited dropped to the floor. I took it as a sign from The Universe and dug in. Boy, am I glad I did because it was exactly the book I needed!
The E-Myth Revisited is a classic business book for a good reason: It teaches you a workable business model – one that allows you to help your ideal clients while earning a profit.
The premise is the business franchise model. Think of McDonalds. No matter what McDonalds you go to in the U.S., you can count on the same experience, food, and service. That’s because McDonald’s is a franchise, and franchise owners receive the tools and training to ensure their restaurants are profitable.
What if you set up your business like a franchise? What if your business was designed in a way that you could sell it later (even if you never sell it)? How does this perspective change how you run your business?
The idea of running my business like a franchise, where I am focused on how I am delivering my product (versus what the product is), was a game changer for me. It changed how I am running Celestial University, specifically my Virtual Networkers division.
If you are out of ideas – or need new ideas – on how to make your business profitable, it’s time to reach for a classic. It’s time to reach for The E-Myth Revisited.
My big takeaways:
#1: Focus on my method of delivery
I am the founder of an online university for women entrepreneurs. I have the platform, but how am I delivering my service, really? That’s something I will be thinking about more and more.
#2: I need an org chart, pronto
One of the exercises Gerber recommends is to create an org chart and include positions that you can’t fill yet. Once the org chart is done, I will complete “position contracts” so that I have the job descriptions nailed down before I hire someone. In the past, I shied away from both exercises because I am a one-woman show. I now know that I will stay a one-woman show if I don’t think about who to add to my team.
#3: I am tired of not being very profitable
I am blessed to earn a profit, but I want to be more profitable. I wasn’t sure how to become more profitable until I read this book. Now I have a plan. Equally important, I know I can attain it. Time to bust out of my comfort zone and do it!
How The E-Myth Revisited relates to entrepreneurs:
If you’ve gotten down this far in my review, it’s probably a no-brainer how The E-Myth Revisited relates to entrepreneurs. To be sure, this book will ask hard questions and make you think outside your comfort zone. If you are ready to grow your business but need direction on how to do so, your next book should be The E-Myth Revisited. No question about it!
Grab a copy of E-Myth Revisited here (this is an affiliate link).