Best Business Books Every Entrepreneur Should Read – That will be the topic of today’s article.
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Constant reading of books has been noted as one of the main habits of successful people such as Warren Buffett, Bill Gates. Whether you’re a beginner entrepreneur or an experienced one, it’s always important to stay ahead of the curve and read the best business books. Here is a list of great business books to read to ensure you start 2022 on the right foot and stay successful.
“The Pumpkin Plan: A Simple Strategy to Grow a Remarkable Business in Any Field” by Mike Michalowicz. See it here.
Every year, Americans start a million new businesses, almost 80 percent of which fail within the first five years. Under such pressure to survive — let alone grow — it’s easy for entrepreneurs to get caught up in a never-ending sell-make, sell-make cycle, exhausting, frustrating, and unable to succeed forward and no matter how much effort they invest.
This is exactly the situation Mike Michalowicz found himself in when he was trying to grow his first company. Although it brought in a steady income, there was never any excess, and he chased clients left and right, working twenty-eight hours, eight days a week. Grind punishment never let up. His company was working, but stunted, and it was barely surviving. It was then that he discovered an unlikely source of inspiration – pumpkin farmers.
After reading an article about a local farmer who devoted his life to growing giant pumpkins, Michalowicz realized that the same process could be applied to growing a business. He piloted the Pumpkin Plan on his own company and turned it into an outstanding multi-million dollar industry leader. First I did it for myself. Then for others. And now you. So what is the pumpkin plan?
Plant the Right Seeds: Don’t waste your time on a bunch of different things just to please your customers. Instead, identify what you do better than anyone else and focus all of your attention, money, and time on figuring out how to grow your company while doing it.
Weed out the losers: In a pumpkin patch, small, rotten pumpkins stunt the growth of strong, healthy ones. It’s the same with clients. Find out which customers deliver the most value and provide the best opportunities for sustainable growth. Then drop the worst of the worst. Nurture Winners: Once you figure out who your best customers are, gently blow their minds. Identify their unmet needs, innovate to make their dreams come true, and deliver on every promise.
Full of stories from other successful entrepreneurs, The Pumpkin Plan will guide you through unconventional strategies to help you build a truly profitable blue ribbon company that is the best in its field.
“Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine” by Mike Michalowicz . See it here on Amazon.
The author of the iconic ‘The Pumpkin Plan’ and ‘The Toilet Paper Entrepreneur’ offers a simple, counterintuitive money management solution to help small businesses break the doom spiral and achieve instant profitability.
Conventional accounting uses a logical (albeit erroneous) formula: Sales – Expenses = Profit. The problem is that businesses are run by people, and people aren’t always logical. Serial entrepreneur Mike Michalowicz developed a behavioral approach to accounting to change the formula: Sales – Profit = Expenses.
In the same way that the most effective weight loss strategy is to limit portions by using smaller plates, Mihalowicz shows that by profiting first and allocating only what is left for spending, entrepreneurs will transform their businesses from money-eating monsters into profitable dairy cows.
Using Mihalowicz’s Profit First system, readers will learn that:
– Following 4 simple principles can simplify accounting and make it easier to manage a profitable business by looking at bank balances.
– A small profitable business can be worth much more than a big business that survives at the top.
– Businesses that achieve early and sustained profitability are more likely to achieve long-term growth.
With dozens of case studies, practical step-by-step advice, and his characteristic sense of humor, Mihalowicz has a revolutionary roadmap for any entrepreneur to make the money they’ve always dreamed of.
“Delivering Happiness” by Tony Shay. Buy it here.
You want to know about the journey we’ve taken at Zappos to reach over $1 billion in gross merchandise sales in less than ten years. You are intended to know about the journey that eventually led me to Zappos and the lessons I learned along the way. You want to learn from all the mistakes we’ve made at Zappos over the years so your business can avoid repeating some of them.
You want to find the right balance of profit, passion and purpose in business and in life. You are interested in building a long-term, enduring business and brand. You need to start up a stronger company culture that will make your employees and colleagues happier and increase employee engagement, leading to increased productivity. You want to improve your customer experience, which will make your customers happier and increase their loyalty, leading to higher profits.
You want to build something special. You are seeking for inspiration and happiness in work and in life. This book is an excellent fire starter.
“Blue Ocean Strategy” by Renée Mauborgne and W. Chan Kim. Find it here.
Used by organizations and industries around the world, world-renowned management thinkers W. Chang Kim and René Mauborgne challenge everything you thought you knew about the requirements for strategic success in this multi-year bestseller.
Hailed as one of the most iconic and influential strategy books ever written, the book, now updated with fresh content from the authors, argues that cutthroat competition results in nothing but a blood red ocean of rivals vying for shrinking profit pool. Based on a study of 150 strategic moves (spanning more than 100 years in 30 industries), the authors argue that lasting success is achieved not by fighting competitors, but by creating “blue oceans” – untapped new market spaces ripe for growth.
The book presents a systematic approach to making competition irrelevant and describes the principles and tools that any organization can use to create and capture their own blue oceans.
This best-selling book, a landmark work that upends conventional thinking about strategy, charts a bold new path to victory in the future. Consider this your guide to creating an uncompetitive market space and making competition irrelevant.
“Rework” by David Heinemeier Hansson and Jason Fried. Available here.
Most business books give you the same old advice: write a business plan, study the competition, find investors, and so on. If you’re looking for a book like this, put this one back on the shelf.
Rework will teach you a better, faster and easier way to have a successful business. Read it and you’ll understand why plans are actually bad, why you don’t need outside investors, and why you’re better off ignoring the competition. You don’t have to be a workaholic. You don’t need to recruit staff. You don’t have to waste time on paperwork or meetings. You don’t even need an office. These are all just excuses.
What you really need to follow is less talking and much working. This book will show you the way. You’ll learn how to become more productive, how to grab attention without going broke, and a host of other paradoxical ideas to inspire and provoke you.
With its simple language and easy-is-better approach, Rework is the perfect primer for anyone who’s ever dreamed of doing it themselves. Avid entrepreneurs, small business owners, people stuck in jobs they hate, layoff victims, and artists who no longer want to starve will all find valuable advice in these pages.
“Good to Great: Why Some Companies Make the Leap… and Others Don’t” by James Collins. Available here.
To find the keys to greatness, Collins’ 21-person research team read and coded 6,000 articles, created over 2,000 pages of interview transcripts, and created 384 megabytes of computer data over the course of a five-year project. The findings will surprise many readers and, frankly, upset others.
But what about a company that doesn’t have great DNA? How can good companies, mediocre companies, and even bad companies achieve lasting greatness?
For many years this question haunted Jim Collins. Are there companies that defy gravity and turn long-term mediocrity, or worse, into long-term excellence? And if so, what are the universal hallmarks that can help the company to upgrade from good to great?
Using hard benchmarks, Collins and his research team identified a set of elite companies that jumped to big results and maintained those results for at least fifteen years. How amazing? After such a jump, the cumulative returns of the stocks of the companies that became great outperformed the general stock market by an average of seven times in fifteen years, which is more than twice the performance of the composite index of the world’s largest companies, including Coca-Cola. Cola, Intel, General Electric and Merck.
The research team compared companies that did well with a carefully selected set of comparison companies that failed to make the leap from good to great. What was different? Why do some companies become really great performers, while others remain only good ones?
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