In the US, 18% of small businesses fail within the first year of operation. And by year 10, only 45% are left standing.
In many cases, it comes down to the industry, location, and year you’re in. A stroke of bad luck can shut your business.
But in many other cases, the failure is due to a lack of education on the business owner’s part. Without know-how, you’re sure to be on an aimless journey.
Are you currently feeling lost as an entrepreneur? Well, don’t worry. Here are some small business books you can read to get on the right path.
6 Best Small Business Books You Need to Read
1. Rich Dad, Poor Dad
“Rich Dad, Poor Dad” by Robert T. Kiyosaki and Sharon Lechter was initially published in 1997, but the book is full of sage advice. It’s been a New York Times bestseller for over six years, and over 32 million copies have sold in over 109 countries.
It mainly focuses on personal finance tips, which can drastically improve your life. By upping your financial intelligence, you can increase your wealth too.
It also covers important topics like business and leadership, and this information can mean the difference between sinking or swimming. Kiyosaki and Lechter’s words persist through time, and with their help, not only can you start a successful small business, but you’ll also go on to create more in the future if you wish to.
2. Essentialism
“Essentialism” by Greg McKeown is a more modern book. It was written in 2014 and is a New York Times bestseller with over one million copies sold.
This is one of the best small business books for people who struggle with time management. It’s as they say: time is money!
Finding a good work-life balance when going fully remote can seem impossible. But once you read this book, it’ll be easier to dedicate your time to things that matter. Not only that, but you’ll finish them efficiently, leaving more of your day for things and people you love. Most importantly, you’ll be in a better state of mind, and you won’t feel as drained.
Needless to say, this is the best book for new business owners, as many people have a difficult time jumping into entrepreneurship.
3. Purple Cow
Seth Godin first wrote “Purple Cow” in 2003 to address the crowding of today’s marketing world. It’s since been revised and expanded in 2009 to add more relevant information. This book has sold millions of copies and has been translated into 36 languages, which shows just how popular it is.
No matter where you look, each industry is crammed with people full of potential. Each one is vying to capture the attention of consumers, so cutting through the noise is vital.
You need to be remarkable to attract customers, and Godin tells you exactly how to do that. After turning the last page, you’ll be equipped to hone in on valuable customers and present your business as one they can’t say “no” to.
4. The Hard Thing About Hard Things
“The Hard Thing About Hard Things” was penned in 2014 by Ben Horowitz, who’s one of the biggest entrepreneurs in Silicon Valley. Believe it or not, Horowitz’s efforts haven’t always been fruitful.
Everyone wants to create their own startups, but they’re rarely successful. Horowitz has made it out on the other side, but he’s got his fair share of challenges. To help others learn from his experiences and mistakes, he gives details on how to navigate hard situations as a small business owner.
This is one of the best books for starting a small business, and when you’ve read it, you’ll feel confident about creating your own. In that case, turn to Business Anywhere for our easy and reliable business registration services. We can help you launch your business in all 50 states.
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5. Start With Why
Written in 2011 by Simon Sinek, “Start With Why” imparts wisdom on being a fantastic leader. While reading, if some of the concepts seem familiar, it’s because this book’s the basis of many hit TED Talks!
If you’re planning on having staff at your workplace, then this is one of the best books for small business owners to read. Sinek teaches you how to truly connect with both your employees and customers, which can result in much more meaningful relationships.
This is also a great book if you like the concept of owning a business but aren’t sure how to direct your staff assertively.
6. Give and Take
Most people focus on the beginning parts of their small business journey and fail to consider steps for long-term success. To tackle this subject, Adam Grant wrote “Give and Take” in 2014, which is a New York Times bestseller. In addition, Grant’s one of the most popular TED speakers, so you may already be familiar with him if you watch the series.
Basically, it’s impossible to become a big-time business owner all on your own. The ladder to prosperity is lined with rungs of people who make up your network. This includes not just your clients, but also investors, mentors, and more.
In “Give and Take”, Grant suggests that it’s your duty to be the rung in other people’s ladders, whether that’s other entrepreneurs or your own employees. By giving back, you’re enriching your own business life, as these people will lend you a helping hand in the future.
Read These Small Business Books
If you’re not feeling confident as an entrepreneur, then hopefully, reading these small business books will help you find your feet. They’ll provide immense aid from the moment you think of starting a company to years into your journey.
Just remember that even the biggest business moguls never stop learning. So don’t be afraid to keep researching and reading up, as this will give you the upper hand against your competition. Evolving and adapting your approaches will surely keep you afloat.
Ready to get over your fears and find your entrepreneurial spirit? Then sign up for a free account with Business Anywhere. We can get your LLC up and running fast.
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