The best resources for entrepreneurs, whether you’re new or experienced, are books. A good book can reframe the way you think and open your mind to different ways to take on your business. Because there are probably thousands of business-related books out there, it can be hard to choose which to dive into next. Below are three of the most valuable, and most popular, books out there for entrepreneurs.
Profit First by Mike Michalowicz
Entrepreneurs are scrappy and smart. They know how to make things happen, how to cut corners when needed, and how to work extremely hard to meet their business goals. The problem with a lot of entrepreneurs is that many of them aren’t great at managing money properly. While it can seem smart to throw all of your profit back into the business, it can actually be detrimental in the future when your business’s operating expenses are astronomical because it depends on much of your profit to run smoothly.
Because of this, every entrepreneur should read Profit First by Mike Michalowicz. Profit First shows you how to properly allocate your money so that you can make sure that you’re taking a profit, paying yourself, and still have enough money left over to run your business. And if you’re in a bind where your business is making no profit? Mike will walk you through how to slowly taper your business off cash eating expenses so you can start taking a profit.
The Slight Edge by Jeff Olson
Although The Slight Edge by Jeff Olson isn’t necessarily considered a business book, it’s an eye-opening read for entrepreneurs and aspiring entrepreneurs. The reality is that most entrepreneurs, especially in the beginning stages, have a lot of other responsibilities and aren’t able to dedicate the amount of time to their business ventures that they wish they could. Not everyone starting a business has 12 hours a day to dedicate to growing it, so how can they possibly find success?
When you read the slight edge, you will be able to implement a way of thinking that will help you to make tiny daily choices that will put you on the path to success with your business. It doesn’t take massive movement in one direction for a short burst of time, it takes small disciplines over time to get to where you want to be. So if you’re an entrepreneur, make sure you check out this book that will walk you through how small changes in the way you run your day can still make a huge impact on your future success.
The 4 Hour Workweek by Timothy Ferriss
Though this book tends to be controversial and has some people who really dislike it, it’s a great read for most entrepreneurs. The concept of the book is basically to work smarter not harder. Much of the book talks about outsourcing tasks to people in other countries where the cost of living is lower. Even if that’s not something that you want to do, or can do, it’s a great read because it shows you what you can do if you take a moment to think outside the box. Since entrepreneurs tend to be the type of people who want to do all the work and figure out everything themselves, it’s a good way to look into how much you could grow your business if let go a little bit and allow yourself to outsource the tasks you aren’t good at or that aren’t high-value activities.
If you’re an entrepreneur, make sure you take the time to read through these books. Not only will they change the way you think about business, but they can also help you to find greater success in your business and your life.