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Embarking on the journey of starting a business can be both thrilling and daunting. Often, it requires additional support and guidance to ensure that the business thrives. To assist business owners in achieving this goal, here are some recommended books that offer valuable insights for starting and maintaining a successful business.
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1. Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz
Entrepreneurs can learn how to make their business profitable from Profit First. Often, business owners spend their earnings on various expenses without paying themselves or saving for the future. In the book, Mike outlines the profit first approach, which involves setting up separate business banking accounts for profits, salary, taxes, and expenses. By implementing this method, you can see that your business is profitable, pay yourself a salary, and cover business expenses.
See my feature in Top 8 Books for Small Businesses.
2. Working Moms How We Do It: Maximize Success at Home and Work by Rojan Robotham
If you're a mom who's constantly juggling work and family life, things can get pretty hectic. That's where "Working Moms" comes in - it's a practical guide that can help you achieve your goals and manage your daily tasks in a more efficient manner. One of the key techniques the book introduces is the SOAR method, which stands for Support, Organize, Aspire, and Resilience. Through the experiences of real-life moms who've successfully implemented this method, you'll learn how to leverage support, organize your life, aspire to achieve your goals and be resilient in the face of challenges. "Working Moms" offers valuable insights into how successful women have found happiness and success both at work and at home by using the SOAR technique.
See my reference in The Best Small Business Books.
3. Building a StoryBrand: Clarify Your Message, So Customers Will Listen by Donald Miller
As an entrepreneur, it's important to understand the "why" behind your business. Building a Story Brand by Donald Miller is a helpful guide that can assist you in identifying your customer, the problem your product or service solves, and creating a plan for success. By determining what success looks like to your customer, you can transform their experience and showcase the benefits of your product or service.
In addition, Story Brand can help you simplify your website and focus on what matters most to your customers. Instead of positioning yourself as the hero, it's essential to show your customers how you can help them achieve their goals. By understanding that your business is here to provide a solution, you can communicate the value of your product or service and how it can solve their problems.
4. Type Talk at Work (Revised): How the 16 Personality Types Determine Your Success on the Job by Otto Kroeger
Type Talk at Work can help you understand your personality type and work collaboratively with others in a team environment. Even if you are a business owner, you should understand how to personality type your employees and customers. Discovering your personality type can be a powerful tool in enhancing your teamwork skills and collaborating effectively with others at work. It is equally important for business owners to understand the personality types of their staff and clients in order to invest in human capital and increase employee contributions. By cultivating adaptability, you can propel your career and business toward success. See my feature in 25 Entrepreneurs List Their Favorite Business Books.
5. Hustle Away Debt: Eliminate Your Debt by Making More Money by David Carlson
Hustle Away Debt by David Carlson is an excellent book for building wealth and eliminating debt. David recommends ways that you can use your skills and talents to create multiple side hustles. Any side hustles can result in long-term passive income or income that can sustain you through hard times. These "side hustles" are not get-rich-quick schemes but enable you to build wealth from skills you have learned in your professional career or things you have learned to fix around the house.
Carlson also encourages everyone to be active in the job market. You may be happy with your career, but no one will look out for your finances like you. With this in mind, he recommends that you continually seek opportunities for increases in salary as an employee. This can be accomplished with a free account on Glassdoor. Using Glassdoor, you can compare the wages of others in your field and present this to your employer if you find any significant differences. Finally, Carlson recommends keeping your resume up to date for the next career opportunity available to you. If you feel that your skills and talents are not valued or bored at work, it may be time to find another career opportunity or create a side hustle.
What's Your Favorite Business Book?
Leave a comment so that others can check it out and add it to their must-read list of business books for the year.