Holiday Book Guide: Top 3 Books for Entrepreneurship
Entrepreneurship is a key aspect for financial progress that individuals can do. The US thrives on it, rewards it and is built to make it viable. Yet, social media makes it seem like it's all roses. You get tax breaks. Drop shipping is so easy. You can make thousands of dollars passively. It is so simple!
Well, not quite. Most start-ups take several years before they start making money and failure is always a probability. In most cases it can take 5 to 7 years before things start to happen. That is a commitment of time, effort and money.
It is key for the new world we live in to pursue entrepreneurship in new ways as most 9 to 5 jobs are not sustainable for getting us through all of life. We need more money and expanding the ways you make money is necessary. That being said, I want to list my 3 top books if you are thinking of starting a side business, a full-time business or translating your expertise into a service/consulting business.
The E-Myth by Michael E. Gerber
This one is a classic and the one I recommend most for anyone deciding thinking about entrepreneurship. This is not a book of tips in the traditional sense. No, this is a narrative story that illuminates the main issues people that go into business for themselves face. The loss of passion due to paperwork. The accounting, scheduling, rules, expense and so many more things most of us are unaware of with our 9 to 5. This is also a must read for those in or entering management to give you a peak behind the curtain of business.
Another classic if you have been around business or marketing. Godin’s thesis is simple - do not be another brown cow. You get used to seeing those and quickly they fade into the background and are uninteresting. This is something we are all prone to do. For example, when I tell people I am a financial advisor that is boring and everyone has an idea of what that is - boring. If I tell you I don’t believe in retirement - that is a little more interesting - like seeing a Purple Cow in a field of cows. It is important to know if your idea will stand out and that is critical for starting something new.
The Millionaire Fastlane by MJ DeMarco
I’d recommend this one as an audiobook since you are able to get the author’s tone and encouragement as well as some of the brashness of the message. Simply put, the slow lane to wealth is a job. A 9 to 5. A 401k. The fast lane is to start a business, risk, try and pursue entrepreneurship. This is from the first-person perspective as DeMarco recounts his own story and draws lessons from his own journey. It doesn’t always work the way DeMarco says and the fact that things worked for him in a certain way are no guarantee for us. Yet, the emphasis on this and what he calls the “wealth trinity” is important for moving out of the rut we often find ourselves in.
Coming next - Top 3 books for the Life Insurance Skeptic