The e-myth revisited

by Michael Gerber

8/10, 10.0/10 if you own a business

Key Ideas:

Having great technical skills does not mean you know how to run a business.
Imagine your business as a nationwide franchise from day one, then build the first store.
Create systems for everything and document all work – for each task, documentation should provide the purpose, steps, and standards for the process and result.
Balance having systems with creating a “game worth playing”, a place of community where people can find meaning.

Other interesting notes:

If your business depends on you, you don’t own a business—you have a job. And it’s the worst job in the world because you’re working for a lunatic.
What your customer wants is all that matters. And what your customer wants is probably significantly different from what you think he wants.
Make the customer experience consistent and predictable.

Thoughts on the book:

If you own a business, buy the book.

Consider the opposite view: Linchpin (personal), Maverick & Rework (companies), and Do things that don’t scale (startups).

Longer summary/notes: SD, Sivers, TD

If you like this, you’ll probably like: Principles, High output management, books