Review of The E Myth Revisited – Why Most Small Businesses Don’t Work and What to Do About It by Michael E. Gerber

gerbernewsDid you know that almost 7 in every 10 new small businesses in 2013 failed within the first 2 years of their startup?  This is a real estate book but it mainly focuses on using a fictional entrepreneur profile who starts a pie shop but she has to deal all the difficulties of a small business entrepreneur to the point of burning herself out without actually getting as much returns as she deserves from the business.  Michael Gerber in this book published in January 1995 demonstrates that for a business or a company to be successful, they shouldn’t sell the products they make, they would just be fulfilling the emotional demands of the clients.

” The E Myth Revisited ” has  been described as the perfect guide for small business technicians, entrepreneurs and managers, to show them how business can succeed when the businesses focuses only on what it is good at.  For instance, he uses Southwest Airlines as a good example of a successful company, which, though it generates its income through the sale of tickets, it does not handle ticketing and instead focuses on providing quality travel services to clients.  The book goes further to the economic systems and especially the workplace environment and how an average employee can get rid of the notion that work and business is a disliked place because people come there to waste their lives.

Among the most intriguing arguments in his book is that in order for a business idea to work, you must have a ‘primary aim’ in life, not just business first, because without it even the best entrepreneur can get consumed.  The strategic objective will be what you want to become of the business to fulfill the requirements of the ‘primary aim’ in life.  It also puts a lot of emphasis in how to analyze an opportunity when it presents itself and using modern available tools to assess the profitability of a venture.  This section is what makes this book one of the most educative and easily explained real estate reads suitable for novice and intermediate entrepreneurs.

Of greater importance is that Michael Gerber, the author, delves into detail to bring out some of the least discussed business strategies and approaches including how to merge talent with the system, how to turn training into a game, measuring and estimating anything at the first glance and the importance of scripting everything in order to make achieve more predictable or consistent results in business.  After all, the idea of a business is a secure and ever-growing income source.

Despite all the good things positive reviewers write about this book, quite a number of Amazon reviewers view it as an out-of-date manual written by a washed up entrepreneur now surviving by writing, lecturing and making inspiration CDs.  It depends on what kind of entrepreneur you are, if you believe there is always something positive out of any publication, then you should consider reading this book before you enter the real estate market.

The 3 Best Real Estate Books in 2014

One of the traits of a great investor is the thirst for new ideas and information, particularly in their field of investment.  If you are looking to get into real estate or already are an investor but looking for ways to be even better, then reading real estate investment books is one of the best way to amass new information, tips and tricks and even learn to fix your errs.  With thousands of real estate books in the market, getting the best and most useful isn’t always the easiest thing but in my opinion, these are the 3 Best Real Estate Books you must read next.

2 Years to a Million in Real Estate by Matthew Martinez

26daff9bca37f3110521f0e48990b41aThis book has been coined the definitive guide to renting property and reaping big from it.  Most people who attest to the success of this book as an instruction manual say that it is the best tool to use to transform an average person – not rich, not very creative, a little ambitious maybe, and – armed with a credit card into a real estate investor in just a couple of months.

Matthew Martinez, the author, says he was just an average Joe working a 9 to 5 and paying his taxes, until he did something different.  If you follow his guide, expect to invest small amounts in hot properties (you’ll know how to find them as well), negotiate like a pro, know to target and screen tenants and make tons of money.

Building Wealth One House at a Time by John Schaub

428082Although ‘Building Wealth One House at a Time’ is over 10 years old, it has some amazing pieces of information you may not find anywhere else.  The foundation of this book is based on what the author, a pro who thrived in real estate even when everyone else was slumping, calls ‘a relaxed approach to building financial freedom’.  It sounds fancy but it actually means you will accumulate millions of dollars through high quality houses you will find in posh neighborhoods that will provide you with ever-increasing income for the rest of your life.

This book has made Billionaires, Google it.  But the most fascinating thing is that it teaches you to be your own boss, live and act like it by training you how to find the right houses, using the right terms to your advantage and identifying the best tenants.

FLIP: How to Find, Fix, and Sell Houses for Profit by Rick Villani, Clay Davis & Jay Papasan

cover250x312If you are a straight shooter and don’t like all the mumbo jumbo of sales, this is your kind of book, the one that tells you straight what to do and what to expect.  This is the third book in the National Bestselling Millionaire Real Estate series and has sold over half a million copies already.  It is also the most recommended book that provides information and methods most relevant to the modern real estate market.

You can refer FLIP as a handy guide that gives you the simplest instructions to analyze investments, identify potential improvements, accurately estimate properties in a fraction of a minute and take out all the guesswork to effectively eliminate risk.