Reading is essential for those who seek to rise above the ordinary. Warren Buffett, the CEO and Chairman of Berkshire Hathaway once said, “I think you should read everything you can. In my case, by the age of 10, I’d read every book in the Omaha public library about investing, some twice. You need to fill your mind with various competing thoughts and decide which make sense.” As an entrepreneur, it’s important to find inspiration and motivation, learn new business strategies and develop new skills. Reading therefore can play a major role.
Here is the list of 5 must-read captivating and informative books:
1. THE LEAN STARTUP By Eric Ries
“The only way to win is to learn faster than anyone else.”
Key Takeaways:
- Observe and measure real customer behaviour
- Embrace new accounting methods
The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses describes how a new, creative and innovative approach called ‘A Lean Startup’ can be used to revolutionize the world of businesses. This book is a must-read for all the emerging and budding entrepreneurs, for its innovative and efficient business ideas. The book explains in detail ‘The Lean Startup approach that concentrates on increasing the capital efficiency of the companies as well as using the human creativity to its highest level.
2. ZERO TO ONE by Peter Thiel
“Brilliant thinking is rare, but courage is in even shorter supply than genius.”
Key Takeaways:
- Founders need a vision to take their business from zero to one.
- The biggest leaps in progress are vertical, not horizontal.
Zero to One: Notes on Startups, or How to Build the Future presents an optimistic view of the future of progress in America and a new way of thinking about innovation and creativity. Peter, in his book, explains how to build a company that generates profit well into the future. In order to succeed, you need to build and maintain a monopoly. He also says with affirmation that success is not a matter of luck and one needs to focus on specific skills to create an innovative startup with monopoly power.
3. BLUE OCEAN STRATEGY by W. Chan Kim and Renée Mauborgne
“The planning process doesn’t produce strategy.”
Key Takeaways: 1.
- Stop worrying about what the competition is doing.
- Start with a strategic price and then deduct the desired profit margin to arrive at the target cost.
Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant is recognized as one of the most iconic and impactful strategy books. The book argues that there is no point in doing cutthroat competition as it results in a bloody red ocean of rivals fighting over a shrinking profit pool. It presents a systematic approach to making the competition irrelevant.
4. HOW TO WIN FRIENDS AND INFLUENCE PEOPLE By Dale Carnegie
“Ask questions instead of giving orders.”
Key Takeaways:
- Be Sympathetic with other people’s ideas
- Throwdown a challenge
This book presents a core idea that you can change other people’s behavior simply by changing your own. It teaches you the concept of better understanding people, becoming a more likable person, improving relationships, winning others over, and influencing behavior through leadership. It also tries to explain that don’t criticize others; they are just what we would be under similar circumstances.
5. THINK AND GROW RICH by Napoleon Hill
“You are the master of your destiny. You can influence, direct and control your own environment. You can make your life what you want it to be.”
Key Takeaways:
- Prepare a definite plan and start implementing immediately.
- Write down everything.
Think and grow rich: The Landmark Bestseller now revised and updated for the 21st Century is the first book in history that boldly asks “What makes a winner?” To illustrate his principles, he draws stories of Andrew Carnegie, Thomas Edison, Henry Ford, and other millionaires. It is considered as the “Granddaddy of All Motivational Literature.”
Take out some time from your busy schedules and read these five books. Don’t forget that reading is the secret weapon of all successful entrepreneurs.
