E-Myth
E-Myth in the business vernacular refers to the Entrepreneurial Myth, and refers to the fact that most businesses fail because the founders are technicians that were inspired to start a business without knowledge of how successful businesses run.
The mythic and often disastrous assumption is that people who are experts regarding technical details of a product or service will also be expert at running that sort of business. Many small business owners eventually realize that just as they had to learn their technical skills, they have to learn business growth and management skills.
E-Myth is also used as a verb, i.e., to 'E-Myth your business' means to build internal systems that control processes as they do in a franchise operation, so that results are predictable. A result of systematizing workflow is that owners are freed from most daily operations to spend more time on strategic issues. The methodology was first articulated in the 1985 book The E-Myth by Michael E. Gerber who has since founded an organization called E-Myth Worldwide that promotes subsequent E-Myth publications as well as speaking events for Gerber.
E-Myth methods are taught in courses at Stanford [1],
References
- "Stanford University, Hasso Plattner Institute of Design", Me 288/MS&E 228 - Spring 2007 course reading.
- "BYU 2007 Entrepreneur Lecture Series".
- "Stetson University, 2006 Prince Entrepreneurial Seminar", BN 399.
- Henriks, Mark "Novel Ideas", 'Entrepreneur Magazine', April 14 2007.
- Maiello, Michael "The Entrepreneur Library", Forbes Magazine, September 12 2005.
- "Undergraduate Entrepreneurship College Opens in Phoenix" ,INC. Magazine, January 26 2007.
- "Sound Off", FastCompany (magazine),August 12 2003.
External links
- St. Louis University's Top Ten business books.
- Iwata,Edward Companies can Grow in Goliaths' Shadow, USA Today, November 19 2006.
- "1-800-GOTJUNK CEO", reportonbusiness.com, April 27 2007.
- Richmond, Riva "Owner-Employee Role Reversal Serves Both", Wall Street Journal, November 15 2005.
- Business Week Magazine, Best Sellers List
- Wall Street Journal, Best Sellers List
- Official Site.
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