Here’s a collection of the 10 must-read books for young entrepreneurs that should guide you towards the entrepreneurial path where others have been before.
When going down the business path, young entrepreneurs often tend to shy away from resources and try their own luck. However, this doesn’t turn out well, especially because their knowledge might not be at the same level as of those who’ve been in business for many years. Good thing is that there is a possibility to catch-up. And the top resources for this are books.
Here’s a collection of the 10 must-read books for young entrepreneurs.
1. The Psychology of Selling by Brian Tracy
Every entrepreneur knows that the key to a good business is good sales technique. Not only do you have to sell your product, but you also have to sell yourself and your idea. Having a great product doesn’t do anything if you don’t know how to approach the person and make them fall in love with you and the product. The Psychology of Selling by Brian Tracy is a book that gives you a series of ideas, methods, strategies, and techniques that you can use immediately to make more sales, faster and easier than ever before. It’s a promise of prosperity that sales guru Brian Tracy has seen fulfilled again and again.
2. Rich Dad, Poor Dad by Robert Kiyosaki
What many focused on were only the real estate aspects of Robert Kiyosakiâ€™s book series, but you don’t have to be a property investor to acquire knowledge from the fantastic book Rich Dad, Poor Dad. What Kiyosaki was really trying to impart in this book was a wealthy way of thinking.
A way of thinking that looked at true assets and liabilities and the mindset of the wealthy in assessing their finances. He shares examples from his own highly educated but poor father and those of a close friend’s father who was not educated but incredibly wealthy. The book explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you.
3. Thinking, Fast and Slow by Daniel Kahneman
Daniel Kahneman goes over the two systems found in our mind, that can make or crush our sense to move ahead and accomplish in life, in his book Thinking, Fast, and Slow. He talks about the fast and emotional system, and the slow, more logical system that makes up our whole mind. He breaks down the various effects of each system on our success, mentality, confidence, and teachability index. Young entrepreneurs were raised in a fast environment, this book is a must-read for everyone who wants to get to the top of the tower without actually killing the dragon.
4. The 4-Hour Workweek by Timothy Ferriss
Timothy Ferriss’s name has been everywhere since he launched in his book, The 4-Hour Workweek. Today, everyone is looking for that easy fix, and becoming an entrepreneur is all about enjoying the wonders of life without having to work 40 hours a week. Timothy understands that and therefore puts you in the right mindset to start building a business that will allow you to work not 20, not 10, but 4 hours a week and still creates a fortune. Whether your dream is escaping the rat race, experiencing high-end world travel, or earning a monthly five-figure income with zero management The 4-Hour Workweekis the blueprint.
5. The $100 Startup by Chris Gillebeau
The $100 Startup is a very interesting book for anyone who feels unmotivated because they lack the financials to do so. Chris turns the tables around and in his book, he talks about 50 of the most amazing success stories of entrepreneurs who are making more than $50,000 and who started with only a few bucks in their bank accounts. This is the perfect book to motivate anyone to move forward without focusing on the money or the HOW.
6. The E-Myth Revisited by Michael E. Gerber
The reason why The E Myth is a very, very important book to read is because it allows you to realize that maybe you’re really not an entrepreneur. You think youâ€™re an entrepreneur, but you’re not really an entrepreneur. Or, you are an entrepreneur, but you’re not paying attention to the other sides of the business which is the systems side. Because a lot of times the entrepreneur may be the visionary and not want to deal with all the minutia, and just want to go out there and do all this stuff, and they’re not really paying attention to systems and so you can’t really scale your business.
7. Crush It! by Gary Vaynerchuk
Gary takes a very motivating and persuasive voice in his book Crush It! Through motivation to follow passions Gary goes in his book through the many reasons why you should stop sitting on your couch dreaming about the day you will get paid to do what you love. Gary wants you to get out of your comfort zone and create a happy and passionate life for yourself. If you need that little extra push to move toward your passion and create a business, this is yourÂ book!
8. The Lean Startup by Eric Ries
We’ve mentioned this many times, but we have to mention it again. The Lean Startup from Eric Ries, is the book to use on various techniques as an entrepreneur that you can use in order to create a business that will go against the odds and succeed. Eric Ries defines a startup as an organization dedicated to creating something new under conditions of extreme uncertainty.
This is just as true for one person in a garage or a group of seasoned professionals in a Fortune 500 boardroom. What they have in common is a mission to penetrate that fog of uncertainty to discover a successful path to a sustainable business.
9. Rework by Jason Fried, David Hansson
Most business books give you the same old advice: Write a business plan, study the competition, seek investors, etc. If you’re looking for a book like that, put this one back on the shelf. Rework from David Hanson and Jason Fried, shows you a better, faster, easier way to succeed in business.
Read it and you’ll know why plans are actually harmful, why you don’t need outside investors, and why you’re better off ignoring the competition. The truth is, you need less than you think. You don’t need to be a workaholic. You don’t need to staff up. You don’t need to waste time on paperwork or meetings. You don’t even need an office. Those are all just excuses. Rework will motivate you to get up on your feet and move forward without planning the steps on a piece of paper before.
10. Business Model Generation by Alexander Osterwalder
Business Model Generation is a great tool for the visual entrepreneur. We’re all used to looking at pictures more than we are reading books, which is why Alexander Osterwalder wants to teach you the right way. According to Alexander, you have to start by creating a business plan and act on it. With pictures, graphs and timelines, this book is a must-have for every visionary young entrepreneur. If you need calendars, post-its, and picture reminders in order to do something, this is for you. Build a successful business plan, and you’ll build a successful business.