7 Books Every Aspiring Entrepreneur Must Read
You have been asking for an article like this on what book that I actually do recommend, I always hesitate to recommend because it depends on your circumstances, but today I’m going to give you some of the books that I believe every aspiring entrepreneur must read, you see knowledge isn’t power but applied knowledge is power, and over the years I don’t think I have read less than a book a week, that’s like my average, now unless I’m working on some important projects that I get very busy or I’m travelling but even when I’m travelling I do read too.
So if I’m working on something that maybe is for a period of time I don’t read that much, but on average I read about 3 to 4 books a week, that’s my average because leaders are readers and readers are leaders, because In other for you to be better you have to learn more.
So the first book is rich dad poor dad by Robert kiyosaki, now chances are that you’be already heard of this book or you’ve even read the book, it’s a very popular book on personal finance, now within the book Robert talks about the difference between an asset and a liability.
An asset is something that puts money in your pocket and a liability is something that takes money out of your pocket, and poor people have a lot of expenses and the middle class they buy liabilities thinking they’re assets and the rich people have assets, Robert also talks about the concept of creating or having that asset that produces cash flow and then you use that cash flow to find your ideal lifestyle.
the second book is principles by Ray Dalio, in this book ray doesn’t just talk about money, instead he talks about principles, he gives all the more informed decisions, it teaches you critical thinking to be more self aware because I think nowadays.
Everybody is looking for the quick fix and gimmicks that most people forget about principles.
You see principles rarely change, tactics could change, strategies can change but principles are the foundation which guide out decision making process. So principles by Ray Dali is a phenomenal books I think you should buy.
The third book I think everyone should read is the success system that never fails by w clement stone.
You’ve probably heard of the book think and grow Rich by napoleon hills and that’s a great book, I think everyone should read but another book as popular that I think is just critical is the success system that never fails, now to may or may not know this but in the later years of Napoleon hills, w clement stone at that time was running insurance company that was generating million of dollars and he actually hired Napoleon Hills to be his sales trainee for his organization and one of the key things that I picked up from this particular book is that importance of your environment.
How do you structure your environment to support you not working against you but working for you.
I’m not just talking about your physical environment but also who you surround yourself with, the people around you so that’s the power of your environment all in the book the success system that never fails.
The next book I would want you to read is the richest man in Babylon by George S clason, now this book is such a little book that won’t take you less than one evening to finish but when I first read the book, I learnt some very important fundamentals when it comes to money investing that I still use the same principles today, they’re not gimmicks but proven principles that won’t change today if has nor changed for 100 of years and it won’t change.
It’s one of those classic book that talks about things as simple as paying yourself first, don’t spend more than you earn and invest the difference, those are basic fundamentals on one put in a small book that even a high school student can learn about the concept of money.
The next book I want you to read is the little book of common sense investing by John c Boyle.
You see commonsense is not so common anymore and common sense doesn’t necessary equals to common practice, you see nowadays on social media everybody us chasing the gimmicks, the latest investment catch crypt current or forex trading and a lot of others meanwhile forgetting the basic fundamentals.
Being your own boss can be exciting for most Young business starters or that’s what they think, but research has shown that 90% of small business fail within the first 5 years, some would say 93% of that fail.
Whatever is left after that 5% chances are that they will still fail after 5 years, whatever the percentage is, it’s a high filling rate. I Truly believe that most entrepreneur fail and most small business fail because they don’t understand what I’m about to share with you.
You see when you’re working for others, when you’re working at a job, you’re working at a corporation etc. The truth is you’re not really working for others, the one’s that are working for others would have a job and they’re really working for themselves.
Because when you’re working for others, you don’t need to worry about that a lot, what you’re focusing on is your paycheck, what you’re getting paid.
You’re working for yourself, you want to get that paycheck, so that you can pay for your health, your mortgage, you want that vacation paid or you want to increase your earning hours, you want that bonus at the end of the year.
So when you’re working for others, you have a job working for a boss, you’re actually working for yourself because most of the employees, they don’t think very far, they only concern themselves with what will benefit them but when you’re working for yourself, the Truth that no one tells you is that you’re actually working for others, because you look at your income statement, you look at your balance sheet, you get paid last.
Everybody else get paid before you get paid and in some cases, you don’t get paid for many years.
When you’re working for yourself, running a company, acting as an entrepreneur, being an entrepreneur, you’re actually working for the society.
You’re working for the vendors, you’re working for the bank to give these bank loans, you’re working for thousands, tens of thousands of customers.
So instead of having one boss, you now have thousands, and it’s a very difficult thing for you to eat last. Because you pay everybody else, you pay all the expenses, all the overheads and whatever us left then you can now pay yourself and chances are when you’re working for your own company.
You’re your own boss, chances are you’re going to take that money and you’re going to reinvest back into your business.
So a lot of people that got into entrepreneurship with the wrong mentality that “ Or I want freedom , I want to do whatever I want, I want to be able to solve myself.
Guess what it’s the opposite of that, you as a true entrepreneur, a successful entrepreneur. You have a lot of responsibilities, you’re responsible for your team, you’re responsible for your customer, you’re responsible for your vendors.
If you’re a public company you’re responsible for your shareholders, that’s is why.
This is why entrepreneur get paid a lot of money because when you’re working for yourself, you’re actually working for others you have a job, instant gratification.
When you’re running your own business it’s delayed gratification, in some cases you won’t get paid for many years. As an entrepreneur, I understand “I don’t mind eating last, as long as I’m eating the most” and that’s what entrepreneurship thinking, I won’t to get paid in a month, I want to get paid in three months, it’s not going to happen. Because, If you notice most successful entrepreneurs Even the ones that are good, the ones you look up to you won’t to admire, it took years, sometimes it took decades, they worked hard for decades.
Until they hit the tipping point. And then their career kicks off, this’s what people don’t see and then they can reward themselves, because they’ve Been waiting for a long time as a good entrepreneur you’re not thinking next month, next week.
Because we’re building everything on the line to take that risk, that’s the truth of entrepreneurship that no one, talks about so you have to ask yourself that do you have what it truly takes to be your own boss.