5 Business Lessons From The 5 Best Books on Entrepreneurship
The five most widely-loved best books on entrepreneurship can answer your business queries and inspire you to take that leap of faith.
Learn business skills better than any course or coach can teach you.
Have you wondered how companies like Tesla, ChatGPT, Electric Vehicles, and Apple appeared, made their mark, and became an important part of our lives?
The real fun is in getting to know who was the first person to think about these ideas. What inspired these thinkers and what lessons can we learn from their stories and journeys?
Economists argue that 1 out of every 4 start-ups fails due to factors like bad managerial decisions, government policies, monetary issues, etc. So, how can we get the perfect insight into the processes, mindset, and risks involved in starting a business and whether it will be successful?
The five most widely-loved best books on entrepreneurship can answer your queries and inspire you to take that leap of faith.
(Note: The links mentioned in this article are affiliate links. If you choose to purchase these books through these links, it will help me earn a small amount of money — at no extra cost to you. Thanks!)
1. The $100 Startup by Chris Guillebeau
If you think that starting a business requires a large amount of money, employees, and lots of sacrifices, The $100 Startup may bust this myth.
All you need is to take a step forward and find a skill that can be monetized. Combined with passion and an initial amount of $100 or less, you can build your micro business.
You can either do it full-time or part-time, thanks to digitalization.
This book is a gem for those who see the ahead of their 9 to 5 job and want to find their purpose. It’s an easy-to-read guide for building your business with the least amount. Inspired by 50 case studies, the author shows how people with not-so-extraordinary skills discovered their passion and were able to generate income from that.
Nothing is more fulfilling than doing what you love and earning well from it.
Biggest entrepreneurship lesson from The $100 Startup by Chris Guillebeau
Guillebeau has detailed guidelines about
- how much investment is required,
- what to do in the first few weeks, and
- how to grow your startup.
Most importantly, The $100 Startup shows the key mistakes most people make while starting their business.
You don’t need any marketing degree or even employees for starting your business. All you need is a product or service in demand that people are ready to pay for.
Simplify your plan and take action every day to reach your goals.
So, what’s stopping you from owning a business?
My favorite quotes from The $100 Startup by Chris Guillebeau
“Plans are only good intentions unless they immediately degenerate into hard work.”
“Most of us like to buy, but we don’t like to be sold…compelling offers often create an illusion that a purchase is an invitation, not a pitch.”
2. The E-Myth Revisited by Michael E. Gerber
80% of small businesses fail at some point.
How to ensure that your business is not among those?
Build a company that’s based on systems and not dependent on any individual.
The E-Myth Revisited guides you through the steps you need to take for a successful business. It teaches how to run a business and establish a system that doesn’t require your interference all the time.
The book busts several myths of entrepreneurship such as:
- Successful entrepreneurs need to work extra hours restlessly.
- A business owner must play the role of the entrepreneur, manager, and technician for the business to succeed.
- Your business can’t run without you.
Biggest entrepreneurship lesson from The E-Myth Revisited by Michael E. Gerber
If your business entirely depends on you, there is no difference between a 9 to 5 job and owning a business.
Start working on building a franchise from day one and see your business run smoothly.
You mainly need to focus on these four attributes to establish a franchise-
- Skillful employees,
- A place of systematic order,
- Documentation of work in operation manuals, and
- Providing premium services to the customer.
Give the book a read for some brilliant ideas on how to run a business.
My favorite quotes from The E-Myth Revisited by Michael E. Gerber
“If your business depends on you, you don’t own a business — you have a job. And it’s the worst job in the world because you’re working for a lunatic!”
“The difference between great people and everyone else is that great people create their lives actively, while everyone else is created by their lives, passively waiting to see where life takes them next. The difference between the two is living fully and just existing.”
3. Crush It by Gary Vaynerchuk
How would you feel if you could earn money by following your hobby or passion?
Yes, it’s possible if you can use your interests to build a personal brand. The internet is the biggest tool to establish a successful business.
Crush It will teach you how to utilize this tool to do what you love and become financially independent. The book mentions several tools to build a personal brand and a stellar social media presence.
There’s no perfect time to start doing what you love. So, follow your passion and find ways to make a living out of it. Follow the step-by-step guidance and Crush It.
Biggest entrepreneurship lesson from Crush It by Gary Vaynerchuk
The author emphasizes sharing your stories with people and always being authentic in your content.
Don’t hesitate in showcasing your skills and struggles, with a story that people can connect with.
My favorite quotes from Crush It by Gary Vaynerchuk
“There no longer has to be a difference between who you are and what you do.”
“Developing your personal brand is the same thing as living and breathing your resume.”
4. Crushing It by Gary Vaynerchuk
Crush It and its follow-up, Crushing It are my favorite books on personal branding and building an online business.
They helped me realize the need and endless possibilities in building a personal brand.
You don’t always have to sell products to make profits. There are several ways to monetize your brand and get paid for the services you offer. Even if you have skills, you need a strong online presence to showcase those skills and generate leads. The book has discussed several principles for utilizing the power of social media.
Biggest entrepreneurship lesson from Crushing It by Gary Vaynerchuk
Those who have realized a solid social media presence are winning in their lives. You can get insights from the case studies of people who left their predictable careers to build their businesses.
It is a must-read book full of inspiring stories and practical tips for making your social presence.
So, don’t think much, share your skills, and document your journey. Most people will appreciate it if it adds some value to their lives.
My favorite quotes from Crushing It by Gary Vaynerchuk
“Always put your money back into your business.”
“When it comes to professional opportunities, this is the best time to be alive in the history of humankind.”
5. The Power Of Broke by Daymond John
Sometimes we need to hit rock bottom and start from zero.
Being broke or having no money is leverage as you will try to find resources that others don’t.
The Power Of Broke tells us the importance of hustle and how it makes you stronger. When you start from scratch, you get to research and learn a lot on your way to achieving your goals.
You have the chance to discover your creativity and passion.
It’s an empty bank account that makes you realize your biggest resource: knowledge and hard work. The combination of the two leads to phenomenal success.
Biggest entrepreneurship lesson from The Power Of Broke by Daymond John
We are always doubting ourselves so much that we don’t explore the possibilities we have. The Power Of Broke by Daymond John acts as a wake-up call to restructure our lives by welcoming innovation and curiosity into our daily activities.
If you want to start a business, learn something, or try something different, start now and you will gradually learn from your experiences.
My favorite quotes from The Power Of Broke by Daymond John
“Being broke is temporary but the poverty of mind is permanent.”
“Told myself it didn’t matter if my ride didn’t turn heads — it only mattered that it turned things around for me.”
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