With the New Year upon us, entrepreneurs everywhere are developing their reading lists filled with books to help take them to the next level of success. If you’re anything like me, you don’t want to read simply to consume information; you want books that will help guide you towards expansion and evolution. But, with the millions of books on the market, how do you choose?
I’ve compiled a list of five books every entrepreneur needs to read. Each book explores a different aspect of entrepreneurship or business that, when combined, will help guide you towards an incredible year ahead.
- Profit First
It’s no secret: 66% of businesses fail within 10 years of inception. The top reason for this? Poor money management. Businesses have operated by the same financial equation since the dawn of time, so in order to disrupt the failure rate of businesses, we need to first disrupt the model through which we manage our income. That’s where ‘Profit First’ comes in. Profit First is the only model I have seen which approaches profit, expenses, and revenue in a way which is revolutionary. Want to make more money in your business in 2020? Begin by reading ‘Profit First.’
- Atomic Habits
Habits and consistency are two of the ingredients for successful long-term business. Yet, humans have an incredibly difficult time maintaining habits. It’s why most people’s New Year’s Resolutions fail. ‘Atomic Habits’ will help you change how you approach this aspect of your life and business. Through a combination of psychology and actionable takeaways, ‘Atomic Habits’ will guide you towards success day after day.
- The Alchemist
Entrepreneurs are notoriously obsessed with the destination we are moving towards, while vastly overlooking the journey. However, it’s the journey which determines our ability to reach the destination. After 13 years of entrepreneurship, I’ve come to understand the importance of the journey and have begun to place less importance on the destination. ‘The Alchemist’ is a pivotal book for every entrepreneur to help in shift one’s perspective from the destination to the journey.
- The E-Myth Revisited
Many entrepreneurs get into business because they’re passionate about the industry they’re entering or they have a particularly useful skill. Most entrepreneurs who fail to evolve out of passion and skill and transition into leadership, business, and systems inevitably go out of business. The E-Myth breaks down the necessities of successful business. The biggest shift you will learn while reading this book (which will 100% transform your business) is moving away from the approach of working in your business and moving towards the approach of working on your business. If you continue to spend the majority of your time working in your business in 2020, you will be limited by what you’re able to create and achieve. Whereas the more you can work on your business in 2020, you will set your self up to reach new heights and surpass what you previously believed to be your limits.
- The Tipping Point
Too many entrepreneurs are not willing to put in the work it takes to reach critical mass in their business. One or two attempts at establishing or growing your business are not enough. ‘The Tipping Point’ explains what it takes to reach critical mass and create a movement. My favorite illustration of this is the guy dancing at Sasquatch Music Festival. He’s alone for several minutes looking like a fool, but caring not. As he keeps dancing, one person joins him and another joins him and another, until there’s an entire crowd of people dancing with him. Too many entrepreneur’s want to go viral on their first article or their first video. They want the overnight success immediately, when we all know the average timeframe for an overnight success is eight years.
2020 is all about putting one foot in front of the other and walking consistently on your journey towards the business you dream of. These books will help you take your journey with ease.