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Welcome to the WISE newsletter, a program of
The Falcone Center for Entrepreneurship at Syracuse University
 

Tuesday, March 14, 2006

Do you know what the E-Myth is?

In 1981, Michael Gerber wrote a book on entrepreneurship and the myths that surround it. The book has been revised/updated several times and now you'll find The E-Myth Revisited:Why Most Small Businesses Don't Work and What to Do About It in bookstores. If you haven't heard of this book or haven't read it, you'll find it inspiring and full of wisdom that will cause you to think differently about how to operate your business. You'll realize that standardizing how things are done is a positive step, no matter how big or small your business is. You'll realize that documenting your business will help you bring on-board more employees who will not be flying by the seat of their pants, but will work within the parameters that you expect.

The model that Gerber using is one of a franchise. In order to franchise a business, the processes must be documented and regimented. Although the customer may just think of everything as being good customer service (given by nice people) for example, it is the standardization of how things work that allows that to happen and happen consistently. Gerber recognizes that many people do not want to franchise their businesses, but he sees the standardization needed "to franchise" as being important for any business. He also sees this as a way of creating a system that allows the owner to step back and be able to allow other people to run the business, when necessary. (Owners do like to take vacations like everyone else and not work 80 hour weeks!)

Most business owners read E-Myth after they have been in business for a few years. It tends to be an ah-ha moment for them. If you need an ah-ha moment, pick up E-Myth Revisited at your local library or bookstore.



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