The E-myth revisited
In this first new and totally revised edition of the 150,000-copy underground bestseller, The E-Myth, Michael Gerber dispels the myths surrounding starting your own business and shows how commonplace assumptions can get in the way of running a business. He walks you through the steps in the life of a business from entrepreneurial infancy, through adolescent growing pains, to the mature entrepreneurial perspective, the guiding light of all businesses that succeed. He then shows how to apply the lessons of franchising to any business — whether or not it is a franchise. Finally, Gerber draws the vital, often overlooked distinction between working on your business and working in. your business. After you have read The E-Myth Revisited, you will truly be able to grow your business in a predictable and productive way.
Stats for nerds
126recommend
205mentions
170people
2007–2026years
73% recommend24% neutral3% critical
Mentions per year
What Hacker News says
- Starting and running a business is an entirely different skillset from "doing the work" - even someone who could easily "be on their own" (think: plumbers, doctors, etc) really often prefer the salaried position where they don't have to think about "the business".
It's an older book, but The E-Myth Revisited is worth a read for everyone, a business is not a job. It's related, but it's not the same.
- I went indie some 20 years ago because I needed money and I wanted full control over my life. Did some things right but many things wrong. Unfortunately, there is a price to pay to build your life in an unconventional way. Everything turned out well but it might have easily concluded with a disaster. Luck (or lack of it) plays a significant part however much you try.
What I would recommend to the "new indies":
- Build this on a side with a steady full-time job. If you can't get to a few thousand dollars per month by investing 2-3 hours per week day plus 10-20 hours on a weekend, going full time won't make a difference.
- If you have a family, be careful. You are making high risk decisions but people who depend on you didn't ask you to make a leap into unknown territory. Attempt to pull of indie business is stressful for everyone, may lead to years of strained relationship, and to a divorce.
- Do not share too much business information with your spouse. What is acceptable risk to you may cause dread to your significant other. They don't deserve all the emotional ups and downs that come with running a solo business. Absolutely do share important things because you are in this together - just don't frighten people whenever you are in a bad situation.
- Be mentally stable. If money is tight, if things are unknown, remember this was your choice.
- Don't be too proud - always be prepared to freelance or find a "real job" if needed. Remember that big success can take (many) years or it may never come. Do your best but do not self-destruct.
- Read "The E-Myth Revisited" to learn that your job changes. I was a spectacularly good developer when I started this. Today? Perhaps just a very good one because development turned out to be 10% of the job. You will wear many hats and some of those hats you will absolutely hate. You thought all you'll do is make state of the art software? Yeah, and you will also do sales, website, marketing, customer support, accounting, taxes. You will be exposed to all the shit you were blissfully unaware exists in business while at a steady job because it was someone else's job to handle all that. You will understand your past bosses much better.
All that said, I love the business I built. A beautiful lifestyle business for a quite a few years. It's a stable and growing business now, with a team of 20-ish people in 6 countries. We make great things, and have a great work-life balance.
You can do it, just don't sacrifice everything else. Nothing is certain but do your best. Always be kind to people. Remember to take care of the family first. Be there for them, spend time with them. Kids never grow up twice - what you missed, you missed for good.
(Edited for formatting)
- The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It by Michael E. Gerber
Great read and has some good ideas for expanding.
Also 100$ startup is a good recommendation for getting going.
- I think "The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It" is a good book for the mindset and some of the processes around how to build the engine that is your business.
- And for contrast, here is another book from the early 2000s that, seems to have stood the test of time:
The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It
1: the entrepreneurial myth: the myth that most people who start small businesses are entrepreneurs
2: the fatal assumption that an individual who understands the technical work of a business can successfully run a business that does that technical work
> Gerber draws the vital, often overlooked distinction between working on your business and working in your business.
https://www.amazon.com/Myth-Revisited-Small-Businesses-About...
- Too Perfect: When Being in Control Gets Out of Control (1992) by Allan Mallinger
The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It (1985) by Michael E. Gerber
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