Top 7 Books Efficient Entrepreneurs Live byby QArea Expert on August 22, 2016
How to become a successful businessman? Millions of people around the world are eager to learn the answer to this question. Success consists of a range of components, such as a promising idea, excellent skills, a deep knowledge of market tendencies, insistence, diligence and others.
No doubt, if you are a novice entrepreneur and want to achieve success in business, it is advisable to familiarize yourself with some business tips and advice.
Although there are millions of business guides available, it can turn out to be a problem to choose those which are worth your attention. If you don’t want to waste time on reading books, which contain tips that don’t work, as well as on applying useless methods, pay attention to those guides which are recommended by people who have already achieved a great deal.
These are some of the business self-guides that have proven to help people run their companies in a productive way. These are the books the world’s top entrepreneurs draw inspiration from.
#1 The 4-Hour Workweek by Timothy Ferriss
This book became a bestseller very soon after its release. It is a guide to a new lifestyle. The author of the book has gotten tired of working fourteen hours per day and the lack of free time, and as a result he has developed his own lifestyle.
Today he is running a publishing company and is working as an advisor to a number of famous companies. Tim is also an angel investor.
In his book, he depicts four main components of the lifestyle he leads. According to Timothy Ferriss, to change one’s life, one should, first of all, determine his life goals and priorities. He also recommends people to work more effectively and to organize their work so that they have more free time.
To do that, one should spend time only on those tasks and duties that are really important. They constitute 20% of the workload. One should abandon all the other stuff and learn to say “no” to those who try to draw him away from his work. The author also advises to establish a business that will run itself and to hire a virtual assistant to cope with some of the tasks.
He suggests that it is better to have an opportunity to work from home and to move whenever and wherever you want. In addition, he gives some advice on living in different countries. As you can see, this book not only contains some business tips, but also teaches people how to make a new life.
#2 The Lean Startup by Eric Ries
The author of this book is the creator of his own startup methodology. He is the one who has given rise to the lean startup movement. He has co-founded IMVU, a popular 3D chat. Eric Ries is both an excellent IT specialist and a successful entrepreneur.
As you have probably guessed, in this book Eric Ries discloses the details of his own scientific approach to establishing and managing startups. His ideas are based on and inspired by the principles of lean manufacturing.
He claims that scientific experiments, “validated learning” and practices that belie the common sense allow one to shorten the product development cycle. This approach also contributes to the reduction of risks. He does not appreciate complex business plans and provides a technique which allows you to continuously adjust the strategy of the company in the course of its development.
#3 Rework by Jason Fried & David Heinemeier Hansson
The authors of this book are successful businessmen; they have founded 37signals, which is a top software company. They have collected all their useful experience, tips and advice in their book, which is a guide to managing a business in an effective way.
It is noteworthy that these entrepreneurs have an unusual approach to managing. Their company consists of about twenty employees and it does not have a marketing department. They do not conduct meetings and boards, and their business is prospering. The success of their company is evidence that the advice they give in their guide works.
Their ideas contradict the opinions of most business trainers. They prefer making plans for a day or a week to wasting time on long-term business plans, which can turn out to be useless in case any of the circumstances change.
In addition, they say that it is better to determine the most suitable size for your company and stick to it than to make every effort for it to grow. Besides, if the number of employees is too large, you can end up having to reduce the staff, which will inevitably have a serious impact on the performance of other staff members.
As for an exit strategy, the authors of this book recommend novice businessmen to focus on providing customers with quality products and services instead of thinking whom to sell their companies to.
#4 Think and Grow Rich by Napoleon
Napoleon Hill was one of the first authors specializing in self-help guides for business. He is also famous for working as an advisor to one of the American presidents. This book has turned out to be a success. It has retained its popularity down to our days.
The book contains the thoughts and ideas of more than five hundred successful businessmen, who started from nothing and managed to become great. When you finish reading it, you will know what to do to become rich and how to do it.
This guide comprises thirteen principles of earning money, which will come in handy for every person who wants to become financially independent. However, its author highlights that wealth accumulation should not be the only life goal. To be happy one should appreciate such values as friendship, family, love, productive and warm business relationships, and inner harmony.
#5 The E-Myth Revisited by Michael E. Gerber
The author of this book is a management guru who specializes in helping small businesses. He has established several business skills training companies. The point is that millions of businesses are established by people who have excellent technical skills, but no business skills at all. Michael provides such people with advice and tips that help them to achieve a great deal.
In the book, Michael E. Gerber explodes the myths about establishing your own company and analyzes the factors that can cause difficulties and prevent you from transforming your business into a leader in the market.
He discloses all the stages of company development in order to show how to reach immense success. He also tells novice businessmen how to effectively apply franchising principles, managing any kind of a company. At the end, Gerber explains the difference between “working on your business” and “working in your business”.
#6 The $100 Startup by Chris Guillebeau
Chris Guillebeau is famous for his series of business and travel guides. He is fond of traveling and has visited every country in the world. He has never had a traditional job, but he has managed to turn a number of his ideas into money.
While working on this book, Chris Guillebeau studied the development of 1,500 firms. Their owners invested about $100 and managed to transform their businesses into companies earning over $50,000. Afterwards, he chose fifty of the most exciting cases.
It has turned out that the majority of these businessmen have no special skills, but they have monetized some of their personal passions. In his book he tells what these people have done to earn money, how much they have invested in their companies and what mistakes they have made.
He has performed a deep analysis of their businesses and determined their secrets of success. The author of this book claims that you do not need to have a business plan or an academic degree to successfully run a business, you just need a service or a product that other people will pay for.
The main ideas of the guide are: if you can do something in a good way, you are probably good at something else, too; you should sell the product or service, but not the technique you use; sometimes, it is better to start acting instead of wasting time on planning.
#7 The Millionaire Fastlane by MJ DeMarco
The author of this book has founded The Fastlane Forum, a forum dedicated to the development of businesses. Sure, the philosophy of Fastlane Entrepreneurship is its major topic.
The main idea of the book is that there is a worthy alternative to getting rich in a traditional slow way: receiving proper education and a job, saving 10% of your income, investing your savings in the stock market and retiring rich.
Instead, you can achieve a great deal in a fast way. This book teaches people how to become young millionaires. It addresses such topics as the law of wealth, the reasons for business failures and poorness. The author discloses the secrets of getting rich and dispels wide-spread myths about running companies.
Most novice entrepreneurs read business guides and watch specialized videos in order to learn useful business secrets. Today, there are millions of such books available; still, it is advisable to pay attention to those who have already proven to be worthy of your attention. You don’t want to waste hours on the methods and techniques that don’t work, do you?
The list of books above contains guides written by people who have achieved a great deal in business and can be justly named gurus. Most of them are successful entrepreneurs who have tested their methods while running their own companies.
As you can see, their tips and advice are trustworthy. In addition to practical business recommendations, they offer their readers different approaches to leading a life. In fact, money is only the means of enjoying it. If you follow their advice you will, no doubt, manage to earn a good living and to relish your life.