Week 2 Reading Reflection

Week 2 Reading Reflection

1. My biggest surprise was more of a revelation of sorts. First of all while reading the E-Myth I completely agree with the fact that a well-run organization can carry on with or without you being present. I guess the revelation to me was when Michael Gerber stated that you have to have an “entrepreneurial perspective” a mindset of not just working in the business, but working on the business. I think a lot of entrepreneurs lose the entrepreneur spirit once they get so entrenched into the job side of their business. I think sometimes early success in a business can make you afraid to branch out and keep being innovative. I think it is for fear of losing their current success.
2. I’m really confused about the correct number of business’s that fail in the first year or first five years. It seems like every book has a different answer. It’s hard to make that plunge into business for yourself when you don’t really know what the odds of survival are.
3. A) I know the list would be long, but what are the major reasons star-ups fail even when there is good management and a good plan in place. If I start another business I would like to know all the big no no’s to stay away from.
   B) How hard is it for someone who has a entrepreneurial sprit to ever be happy working for someone else? Or what can a person like this do to make working for someone else fulling? I find myself in that position sometimes. I have had a taste of both so that makes it a little difficult at times.
4. I didn’t really find anything that I disagreed with the author about, but I did learn a lot of new concepts that I would have never thought about in the same discussions as entrepreneurship. The only possible disagreement that I may have with the author is his statement that all Gazelles and companies eventually die. That is just his observed opinion. There may be one that is sustainable we just don’t know yet. I know this was a stretch, but I just wanted point out there is that possibility. However, I do also believe it’s a slim one.