It is the ambition to follow your passion and turn a profit. Millions of people launch their businesses annually to earn a living doing what they love. Unfortunately, it takes an average of three years for at least one in four people to fail before they succeed. What are some strategies to ensure that you succeed the first time? When starting a business, taking risks, maintaining perspective, and overcoming numerous obstacles are necessary. Even though it could be our toughest challenge, our greatest satisfaction can come from witnessing how our products and services improve the world.
Being an entrepreneur is not the easiest job in the world, but if you want to learn the secrets of success, this list of the 10 best entrepreneurship books below is a good start to expanding your business mindset.
#1. ‘Quiet: by Susan Cain
I find Quiet: The Power of Introverts in a World That Can’t Stop Talking by Susan Cain, an important book for all leaders. It helps you look beyond the traditional idea of what creative and “good” employees look like and helps you appreciate the quieter members of your team. You’ll give them more opportunities and make use of talent that’s hidden everywhere. It also helps you look within yourself and realize the value of your introspective qualities. I learned that by understanding my strengths, I can become a better leader for my company.
#2. Think and Grow Rich by Napoleon Hill
Napoleon Hill’s classic “Think and Grow Rich” has been a source of inspiration for countless entrepreneurs. The book explores the power of mindset and positive thinking in achieving success. It delves into the importance of setting clear goals, developing a burning desire to achieve them, and persevering through challenges.
#3. Crushing It! by Gary Vaynerchuk
“Crushing It!” by Gary Vaynerchuk is a motivational and practical guide for entrepreneurs leveraging social media to build their brands and businesses. Vaynerchuk shares success stories and actionable advice for dominating the digital landscape.
#4. ‘Zero To One by Peter Thiel
Zero To One by Peter Thiel with Blake Masters is a must-read book for any entrepreneur starting and looking to build a team from scratch. The book is great for all aspects of starting up, particularly for leadership and building a high-performing, loyal team. When I was starting up, I had no idea how to convince good people to join my team and be a part of my dream. That’s when I read this book, where the author talks in depth about this topic.
My biggest takeaway was that you need to build trust and security with the people you will work with and be open about sharing your vision in as much detail as possible without any insecurities. That’s exactly what I did, and it’s been five years. My core team remains with me, growing more loyal and stronger daily.
#5. Smarter, Faster, Better: by Charles Duhigg
Every person on my team must read Smarter Faster Better: The Transformative Power of Real Productivity by Charles Duhigg during their first month working with us. I recommend this book to every entrepreneur because it outlines the data, stories, and anecdotes behind building a results-oriented organization and team culture. I frequently reread the chapters on mental models, goal-setting, and focus to realign my priorities and enhance my team’s productivity.
#6. The E-Myth Revisited by Michael E. Gerber
“The E-Myth Revisited” dispels common myths about entrepreneurship and provides a practical guide for small business owners. Michael E. Gerber emphasizes the importance of working on the business rather than in it and introduces systems to achieve efficiency and scalability.
#7. ‘The 5 Levels Of Leadership: by John Maxwell
John Maxwell’s The 5 Levels of Leadership offers a concise and clear framework for comprehending and enhancing leadership abilities. It is particularly helpful for entrepreneurs because it enables them to assess their current level of leadership and comprehend the steps required to advance to the next level. It also offers helpful guidance and examples from real-world situations on managing teams and leading people effectively, which is essential for business owners starting and running a company.
#8. Drive: by Daniel H. Pink
Drive: The Surprising Truth About What Motivates Us by Daniel H. Pink is a bestselling book exploring motivation’s science and how it applies to the workplace. The book argues that traditional incentives, such as bonuses and promotions, are not always effective in motivating employees and that a more holistic approach is needed. From my perspective, the book provides valuable insights for creating a work environment that fosters creativity, innovation, and productivity. It suggests that the key to motivating employees is to tap into their innate sense of autonomy, mastery, and purpose. Entrepreneurs can create a culture of engagement and motivation by providing employees autonomy over work, opportunities to develop their skills, and a sense of purpose.
#9. The Hard Thing About Hard Things by Ben Horowitz
The Hard Thing About Hard Things is an inside look at the tough decisions and lonely times all CEOs face before showing you what it takes to build a great organization and become a world-class leader.
It’s great to have your own business, indeed. Truth be told, though, it is rather hard to have a business and run it properly. Ben Horowitz provides key anecdotes in this book, derived from his success, which was not as easy to obtain as people might think. Getting straight to the point, this book will answer all your questions, whether you already have a business or are thinking about starting one.
#10. Founders at Work by Jessica Livingston
Founders at Work teaches you how to start a profitable business using the same ideas that the most well-known and successful entrepreneurs in history used to launch their ventures.
If you want something that isn’t strictly a guide, this book can be just what you’re looking for. It answers all the questions one can have about how it all began and how it is progressing. It is a compilation of interviews with people who are fulfilling their dreams.
Do Entrepreneurs Read a Lot of Books?
Yes, they read a lot of books. Warren Buffett devotes about 80% of each day to reading, Bill Gates strives to read one book a week, and Mark Zuckerberg needs two weeks to read one book and share it in his online book club. Oprah Winfrey selects one of her favorite books every month for her Book Club, while Richard Branson might wow you with his impressive bookshelf.
Why Do Entrepreneurs Read Books?
Books promote success, self-improvement, and self-education. Entrepreneurs read books to learn business tactics, gain insight into marketing tactics, hone essential skills, generate fresh ideas, and find inspiration.
The trick is that successful people are highly selective about what they read, choosing books for education rather than entertainment.
Selecting business books worth reading can be challenging for those not in Forbes’s top ten. However, every book you select becomes a free yet effective tool for learning skills that will impact your business and, consequently, your success.
The science behind reading books makes it clear why a successful entrepreneur is the one who reads. Successful entrepreneurs read books because:
#1. Reading Improves Speaking
Reading complements the process of expanding one’s vocabulary. Good books impact speech since reading about other writers’ writing styles and flows helps you develop your sentences and vocabulary for subsequent public presentations, conferences, and business meetings.
It’s all about reciprocity: your oral communication skills improve with increased reading. For entrepreneurs, having good communication skills is quite beneficial since it increases their self-esteem and confidence, both of which are important for them to have. Better communication is achieved through constant vocabulary growth.
Novels best cope with this task. The rich and beautiful language of fiction authors expands their vocabulary for conversational usage.
#2. Reading Reduces Stress
A successful entrepreneur needs various skills; one of the most important is the capacity to de-stress. Studies have shown that reading a book or newspaper can help you do this more quickly and effectively than walking or listening to music. A study by the University of Sussex found that reading reduces stress by 68%.
Psychologists say this is “because the human mind has to concentrate on reading, and the distraction eases the tension in the heart and muscles.” So, to ease your tense situations, set aside at least thirty minutes each week to read something; research shows that this will increase your life satisfaction by 20%.
#3. Reading Develops One’s View of the Mind
According to study results published in Science a few years ago, reading can help people better understand others’ mental states, a critical skill for entrepreneurs navigating social connections.
The theory of mind, or the awareness that other people have beliefs and goals that differ from your own, is the capacity to recognize and comprehend other people’s emotions. This ability can help entrepreneurs plan their business plans by considering their target market’s psychology, wants, and aspirations to influence successful customer actions.
#4. Reading Sharpens the Mind
Standford’s research states that reading provides “a truly valuable exercise of people’s brains.” Interpreting circumstances and data necessitates the coordination of various complicated cognitive operations, which results in the creation of distinct patterns in the brain.
Isn’t it a necessary skill for any successful entrepreneur?
Frequent reading alters our brains, particularly in the language center, which oversees vocabulary, communication skills, and spatial awareness. It causes the blood to circulate, boosting the brain’s function and acting as a workout.
How Many Books Do CEOs Read?
What does it take to be number one? A recent survey by Fast Company suggests that the answer could be a well-lined bookshelf. The average number of books a CEO reads is 60 per year or five monthly.
“What I know for sure is that reading opens you up,” says Oprah. “It exposes you and gives you access to anything your mind can hold. What I love most about reading is that it allows you to reach higher ground.”
Warren Buffett is another confirmed bibliophile who reportedly reads an astounding average of 500 pages daily! Buffett attributes his success partly to his voracious reading habit and encourages others to incorporate reading into their daily routine, saying: “Read 500 pages like this every day. That’s how knowledge works. It builds up, like compound interest.”
How to Become a Successful Entrepreneur
Becoming a successful entrepreneur requires a combination of skills, mindset, and strategies. Below, I have put down a comprehensive checklist outlining steps you can take to embark on your entrepreneurial journey.
Businessyield Checklist on How to Become a Successful Entrepreneur
Best Books for Startup Entrepreneurs
With seemingly many books to choose from, why did we settle on these, which I will list below? Well, you’ve got a business to build. Reading and studying will help, but they’re only supplements to getting your hands dirty and getting to work.
Study, apply, build, and repeat. Oh, and don’t forget to have fun, too.
Books are great. We love books. You should read every single one of the books we’ve outlined below, but pace yourself. That means you probably shouldn’t spend every spare moment with your nose stuck in a business book.
Now and again, set aside an evening to binge-watch a Netflix series. Have a get-together with friends in the evening. Take a stroll.
Read also: Top 8+ Books On Starting A Business
Your company is here to stay. You are a successful entrepreneur!
- Born to Shine
- Made to Stick
- Thinking, Fast and Slow
- The 4-Hour Workweek
- Winners Never Cheat
Bottom Line
These 10 titles are the best books entrepreneurs need to read to expand their minds. Start by reading the most relevant one, then go from there.
Most of us dream about living where we make our own rules. But are we ready to take responsibility for what will go wrong? When you’re an entrepreneur, the buck stops with you. Ultimately, you’re the one in charge. You’ll need commitment and perseverance to make things happen, but even if the road is initially rocky, that doesn’t mean you should give up.
Are you up for the challenge? Read one of the books on our list to find what you think is lacking. Learn how to be an entrepreneur and make your dreams come true!
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