Regardless of the experience you have as an entrepreneur, whether you are starting your business or already have some successful ones, it is always good to learn from others and what better way to learn from the experts than by reading some of the best books for entrepreneurs. .
If you remember on our blog about Continuous improvement, your secret weapon to success, we talked about the importance of staying up to date, in his book The 7 Habits of Highly Effective People, Steven Covey mentions one of the 7 most important sharpening the saw habits.
In my case, I take advantage of my commute listening to audio books, instead of listening to alarming news or despairing of traffic, I take advantage of time listening to books that may be of benefit to my business.
Maybe you too need a little inspiration to speed up your engines, or you could use some tips on how to be a better manager and take your business to the next level. Whatever business advice you need to sit down to read or listen to one of these best business books can be one of the best ways to get it.
What are the best books for entrepreneurs? Well, there are many very good readings that can help you improve your entrepreneurship or give you new ideas, these have been some of my favorite books.
Start with why by Simon Sinek
This book makes you think about why you are in the business you are in. Simon Sinek explains how the clarity of your WHY links happiness, charisma and best-in-class marketing and personal success.
When you have a WHY that motivates what you do, you can be unstoppable, and Simon Sinek in his book helps you find that WHY.
He says it is important to find a WHY - a purpose or belief - for your company and stay consistent in everything you do. Find a WHY in your life and never forget true happiness and passion.
People buy your WHY (what you stand for), not WHAT (products).
Simon Sinek says that the people and organizations that can inspire us give us a sense of purpose or belonging that has little to do with external incentives and benefits.
These inspired organizations draw us to a deeper level and that learning to inspire with your WHY is beneficial to everyone.
The more people and organizations communicate correctly, the more satisfied people we will find. Starting with why, then, is a way to improve lives.
The core concept is simple and straightforward: Big business knows why they are doing what they are doing, and they use that mission as their guiding principle.
Start With Why covers three aspects of WHY: 1) define your WHY, 2) understand how your WHY affects your business at all levels, and 3) make sure you stay focused on your WHY over the long term.
Defining your why
Your WHY is your core belief. It is the concept that motivates you to get out of bed in the morning. In terms of an organization, it is the reason why you are in business.
WHY leads to HOW and WHAT:
WHY: This is the vision of your company. It is the motivation behind your service or product. It is the mission you defend.
The HOW: The HOW are the practical steps you must take to achieve your WHY. The HOW is the practical and operational knowledge that gives life to the vision.
The WHAT: The WHAT is the product or service you are selling. It is the tangible part of your company, and it is also the easiest to identify.
The E-Myth by Michael E Gerber
Another book that we highly recommend is "The E-Myth" by Michael Gerber
E-Myth talks about how most people who start a business end up being slaves to their own business. Michael Gerber teaches entrepreneurs how to build businesses that can function independently of the founders, allowing them to be truly free.
There is a phrase in his book that I love and that is very true, he says that "If your business depends on you, you do not own your business, you only have one job, and it is the worst job in the world because you are working for a lunatic" and the truth is that it is very true.
The book touches on three main subjects:
o How to think about replicable systems and results (like a franchise).
o Develop a vision of life and make the business part of that life.
o And shows the importance of working in the business, and not within the business (hire others to do your job)
When we start a business, we don't want to spend or should say invest in people and systems that can help us grow the business quickly, and we end up being the most inefficient todo-logists. This book will help you think differently.
In his book he talks about three different important roles in a company. The role of technician / specialist, the role of Manager, and the role of Entrepreneur. We invite you to read the book to see which one you identify with the most, you will be surprised.
Super Fans by Pat Flynn
The name of the game in today's business is to create "superfans", highly engaged customers who will go out of their way to buy and use everything your company creates. If you can create a tribe of superfans around the world, you are preparing your business for the future.
It's common to assume that superfans only exist for musicians, sports teams, and celebrities, but the reality is that almost every company can create superfans. Just create a path for clients to go from casual to active, active to connected, and then connected to superfans.
Pat Flyn in his book says that "if you build a set of superfans, whatever happens, they will always be there for you." He suggests that instead of spending money on ads, we spend more time on people, our customers. Rather than worrying about the latest tricks and growth strategies, it's important to worry about identifying and addressing the biggest pains and problems of the target audience. Rather than figuring out how to optimize conversion rates, it's better to calculate the rate at which we can authentically connect with our audience and make them feel special. Fans are important, but superfans are everything.
In his book he talks about three phases:
1. Convert casual customers to active customers
2. Convert active clients into connected (participatory) clients
3. Turn those participating customers into Super Fans
Profit First by Mike Michalowicz
Transform your business from a cash-eating monster to a money-making machine.
I think the title says it all, this is one of my favorite books on how to financially manage our businesses.
He totally changes the paradigm with which we have always lived where we are taught that the formula of Profit is Income - Expenses = Profit
However, this is not true because many companies have a negative result, that is, a loss when their expenses are greater than their income, and that is why we live in such a indebted society.
He says that most entrepreneurs put the "growth" of their companies at the center of their efforts, thinking that more sales, more customers, and more funds could save the situation. But for Mike, growth is only half the solution.
Mike begins by noting that not all sales are good. That income generation is clearly the trap into which we often fall. Since many times to "sell" we make inappropriate decisions that harm our companies. As the monster grows, more effort is needed to feed it.
Higher direct costs, higher wages, higher indirect costs, and suddenly we are on a page where every customer is a good customer, regardless of how it may affect our business.
What if you look at profits first, instead of just being another income-focused entrepreneur?
The Profit First method takes a different approach and revolves around not the amount of money you spend and earn, but the difference between these two.
Sales - Profit = Expenses
For this system to work, Mike suggests opening different bank accounts where in each of them the money is deposited separately from the profits, the money for taxes, the money for fixed expenses and your payment as owner of the company, the rest of the money is what is used to manage business projects and uses a very interesting theory that I invite you to read. We follow your advice and have enjoyed the benefits of this different way of managing our company finances.
Everything is Figureoutable by Marie Forleo
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