The Entrepreneurial Myth (E-Myth) has had a profound cost in America – in lost resources, lost opportunities, and wasted lives.
Most small business owners are not venture capital-funded tech companies, despite what we hear about on the news. The majority of businesses get started because employees who are strong at their craft technically become frustrated and feel unappreciated by their employers. These carpenters, mechanics, programmers, cooks, barbers, doctors, plumbers, graphic designers, engineers, etc. get the “entrepreneurial itch” to ditch their worthless boss and call their own shots.
Most of these new businesses fail within the first few years due to a misconception about entrepreneurship. The fatal assumption is:
“if you understand the technical work of a business, you understand a business that does that technical work.”
Why Most Small Businesses Don’t Work and What to Do About It
This is a summary of key lessons from the 1995 book, The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It by Michael Gerber. We want all aspiring entrepreneurs to understand the Entrepreneurial-myth before they quit their job to start a new business.