MBA723 Must Read: The E-Myth Revisited by Michael Gerber

The $100 MBA Show

Omar Zenhom

Marketing, Entrepreneurship, Careers, Business

4.9 • 1.2K Ratings

🗓️ 22 August 2016

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Why do small businesses fail? Today's must-read book for the entrepreneur answers that question. The E-Myth Revisited by Michael Gerber deconstructs the old entrepreneurial formulas and replaces them with a new outlook on small business growth. It lays out the life cycle of a successful small business and helps the reader put their goals and expectations into context. Gerber defines the universal personnel roles that every business needs filled, and offers tips on management and motivation. All in all it's a vital perspective. Click play to hear all about it!

Transcript

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0:00.0	Heyo! Welcome to the $100 NBA show when it comes to your business. There's no time to waste.
0:14.6	That's why we deliver daily 10 minute business lessons for the real world.
0:18.9	I'm your host, your coach, your teacher, Omar's and home.
0:22.6	I'm also the co-founder of the $100 MBA, a complete business training and community online.
0:28.3	And today's episode is a must-read episode.
0:30.9	In our must-read episodes, I share with you a book that I've greatly benefited from.
0:35.0	I share with you the insights, the takeaways, as well as why you should read this book.
0:40.0	Today's must read is The E myth revisited by Michael Gerber.
0:45.0	Ever wonder why most small businesses, no matter how huge of an effort they put in, still fail?
0:50.6	Michael Gerber reveals the answers in this book. The E myth stands for the entrepreneurial myth.
0:57.0	And this myth is the fatal assumption that success of every business is simply achieved by summing up the following. An entrepreneur's
1:04.4	desire to own a business plus a certain amount of capital plus the knowing of the
1:08.8	amount of the targeted profit. But little do many entrepreneurs don't know. It takes more than that. And this is what the book breaks it down. What it takes to run a successful business. What it takes to be a successful entrepreneur. Assuming that you can just win by having the right passion and the right
1:24.4	money and the right idea is a disaster. If you want to be successful you got to
1:29.6	know the ingredients of success. I'm going to get into all the details in this must read so let's get into it. Let's get down to business
1:41.8	Today's episode of the hundred100 RBA show is sponsored by franchise help.
1:45.6	Whether you're a seasoned business owner or you're looking for your first business,
1:49.2	joining a franchise can be a great way to get a leg up on your competition. Franchise Help is here to connect entrepreneurs like you with
1:55.8	franchises that can help your new business succeed. You can own your own
2:00.4	business but you don't have to do it alone.
2:02.6	Visit franchise help dot com slash MBA
2:05.6	and take their franchise quiz and find your next business.
	...

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