January 9, 2015 | 3 minutes

Books Every Entrepreneur Needs to Read

By Nathan Strum

There are many great books that provide insight, tips and advice to business owners. Often times, it is easy to be overwhelmed by the numerous options out there, and weeding through books can be challenging and time consuming. I believe that it is of great importance to know as much as you can about your specific area of business because it will help you accomplish goals, manage finances or help with the start-up process. Here are four books that every entrepreneur should read:

Think and Grow Rich

This book is a classic development book written in 1937 by Napoleon Hill. The book think-rich-and-growfocuses on different philosophies that can be applied to all line of businesses. Hill studied closely techniques that led different individuals to their wealth or success. He then condensed these principles into his book. Think and Grow Rich was also named Business Week Magazine’s Best-Seller List as sixth best-selling business book. Hill states, “The way of success is the way of continuous pursuit of knowledge.”

The Lean Startup

Written in 2011 by Eric Ries, The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses is a book that helps developing businesses. Mr. Ries has previously worked with many different startup the-lean-startupcompanies, so he based the book on his past experiences and observations. This book is powerful because it is intended to reduce risks and eliminate unnecessary steps in the startup process. He emphasizes the importance of the product development phase and customer feedback. In addition, he provides insight on being successful without large outside funding and lengthy business plans.  Ries advises, “You cannot be sure you really understand any part of any business problem unless you go and see for yourself firsthand. It is unacceptable to take anything for granted or to rely on the reports of others.”

The E-Myth Revisited

Michael E. Gerber’s best-selling classic has been voted the #1 business book by Inc. 500 CEOs. Acknowledging that about 40 percent of small businesses do not make the cut e-mythwithin their first year, Michael Gerber wrote The E-Myth Revisited to provided useful tips on how to be successful. He states different fallacies that are associated with small businesses, growing pains and touches on franchising. He states, “A mature company is founded on a broader perspective, an entrepreneurial perspective, a more intelligent point of view. About building a business that works not because of you but without you.”

The Power of Habit

It was no surprise when this book became a best-seller for The New York Times and USA Today, It is written by Pulitzer Prize-winning author Charles Duhigg, and it explains how our habits affect the behaviors of consumers. Reading this book helps identify why somepower-of-habit companies have difficulty innovating themselves while others do it in a blink of an eye. Throughout the book Duhigg shows how different habits that companies like Target and Starbucks or celebrities like Michael Phelps implement that earn them over millions of dollars.  He states, “Simply giving employees a sense of agency- a feeling that they are in control, that they have genuine decision-making authority – can radically increase how much energy and focus they bring to their jobs.”

Any of these books are excellent at providing business advise.

 

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