Management 500: A High-Octane Formula for Business Success Book

I read E-Myth Revisited and still think it's probably the best small business I've ever read. It absolutely changed the way I looked at business.

This book was as good as the first. It has a lot more practical exercises than the first book and comes along with companion worksheets.

This book gets a lot more granular than in the first book. It covers specific areas of business and how you should specifically behave to improve those areas. It takes a deep dive into what it takes to make your business run world-class.

If you followed everything in the book and did all of the homework you would 100% have a stellar company. It's a lot of work though. Almost an intimidating amount of work.
I have done the E-Myth online exercises (no longer available) and they were labor-intensive. Much like the worksheets that go along with the book. Doing the work is extremely valuable but you have to do the work. I actually never set the time aside to accomplish the work all the way through. I regret that I never did it all but it's hard.

Notes from the reading:


Become world class
In order to become world class you need clarity
You need clarity with yourself. What are you good at? What are you bad at? What do you put off?
You have to be brutally honest always.

To have a world class company you have to become a world clsss entrepreneur. To be a world clsss entrepreneur you have to have uncommon skill. To have uncommon skill you need uncommon practice. You have to commit to practice

Practice is grueling unsatisfying work with no immediate outcome but it is the only way to become world class. Your results won't be remarkable. You won't have remarkable results. Eventually you realize you a responsible for practice in order to produce great work. Understand the mechanics of entrepreneurship.

The need for help is endless. "Every time someone asked for help I realized I could never give enough"

In order for your business to change you yourself have to change.

Use creation as expression not as something to define you. Create without need, create out of passion

Purpose is what do I want and what do I get in return for my time and effort. "My purpose is to do and get this or that."

Stop asking why is this important to and ask do I behave lilt this is important to me?

If there is one purpose it should be not to lie to yourself. Detect the lie and don't believe them.

Diminish the gap between what you communicated and how they understand it

Money is food. We digest it into things.