Menu
Attend A Wholesale Workshop

Archives for August 2017

The Best Books for Business

by

One thing I’ve learned for certain? Books provide nourishment for the entrepreneur’s mind. I personally believe that reading and researching is a fundamental component for growth in an entrepreneur’s business. The fact that you are reading this blog post means that you also believe in reading and growing. So, kudos to you for that!

I wanted to make a blog post about some of the better books that I have read that have influenced my personal outlook on business. While I have read more than what’s on this list (some better than others, I can tell you), many of the things I have read are targeted towards a specific type of business.

For example, Russell Brunson’s Dotcom Secrets & Expert Secrets are two incredible books, but they are very much marketing-specific books.

The following are books I have read, that I would call “timeless business classics.” They are all great for your mindset and each deserves a place on your bookshelf.

 

Rich Dad, Poor Dad 

Rich Dad, Poor Dad covers the fascinating topic of learning to think like an entrepreneur. In my opinion, it shows the dichotomy of having an employee vs. employer mindset. It goes through scenarios where you get to “look” at how each person thinks.

Great book, and cannot suggest it enough.

Paperback, Kindle, and Audio versions available.

 

The E-Myth Revisited 

This book should be required reading for ANYONE who is thinking about starting a business. Most entrepreneurs believe if you work hard enough you can achieve anything, which is not entirely true. Work ethic, in and of itself, will certainly help you to succeed, but will not guarantee your success! This book helps to drive home the importance of building systems that help you develop a truly scalable business.

The one thing that we don’t have is “more time”. ALL entrepreneurs, and people in general, have the same 168 hours in a week. This book stresses the importance of building systems that allow you to operate your business without investing more of your personal time.

Paperback, Kindle, and Audio versions available.

 

The Goal 

This book is an amazing read. It focuses primarily on the “Theory of Constraints”, which is a way to learn to systematically solve problems. The book is written in the form of a story about a gentleman who is running a failing factory, and the steps he takes to turn the factory around.

Effectively what this book teaches you to do is look at a process and assess and remove bottlenecks from your business. By removing these bottlenecks, you are able to increase production, while lowering labor and waste. Many of the principles taught in this book are also used in the lean manufacturing and production processes, as those processes are based around waste reduction and constant improvement.

If your business involves processes, this is a can’t-miss book. It will fundamentally change the way you look at problems and teaches you to take a much more thorough approach to problem-solving.

Paperback, Kindle, and Audio versions available.

 

Good to Great 

This book has been one of the single most influential books in helping me to understand business. I believe many entrepreneurs are their own worst enemies. They suffer from the “shiny object syndrome”, where they put some effort into a lot of stuff, but really don’t become an expert at anything.

One of the major reasons for our success has always been the fact that, for better or worse, we are generally not trying to support several different strategies, and instead focus on one thing. In Good to Great, this is called the “hedgehog concept,” and is something that EVERY entrepreneur should learn about.

Paperback, Kindle, and Audio versions available.

 

How to Win Friends and Influence People 

Along with Good to Great, I believe that this book has had a profound impact on how I try to operate within our business.  Beyond being incredibly applicable in business, this book is amazing for helping people learn how to communicate in a more efficient manner.

Whether you have aspirations to run a multi-person company or not, this book will help you. It will help you to learn effective communication strategies that can be used in all facets of life.

Okay, I realize that this isn’t your super-detailed traditional book report, but I wanted to simply draw attention to some of the books that have really helped to shape my personal business philosophy.

Paperback, Kindle, and Audio versions available.

 

Check them out, as they are all amazing reads. Also, be sure to let us know of some of your favorite business books!

Don’t Settle, Reach!

by

Those are all phrases we have, at some point, muttered. The problem with those phrases is they are accepting of mediocrity. They predispose we are willing to accept “good enough”. While greatness may or may not be attainable, you sell your dreams short by accepting less. The fact is you have chosen to run and operate your own business. You have taken that chance, putting your time and money on the line, you owe it to yourself to accomplish whatever is possible without restriction.

In truth, by human nature, we condition ourselves to accept excuses. We accept good enough because that is what is easily attainable without real resistance. We meet resistance, then settle, because, well, it’s the easiest thing to do. We tell ourselves it’s reasonable because other people do it. Ask yourself these questions:

Did you start your business because other people were doing it?

Did you start your business because you wanted something?

Have you accomplished what you set out to do?

Do you want MORE?

The reason I think good is the enemy of great is it clouds our judgment. It makes us think that we have what we want. That we shouldn’t push through the resistance barrier to achieve something more. It tells us to stop and stand pat because that is normal. If you are an entrepreneur, YOU AREN’T NORMAL. You are the exception. By that logic, you should try to achieve exceptionally. You should shoot for the unattainable, and keep moving forward.

The difference between the good entrepreneur and the great entrepreneur is the great entrepreneur didn’t let something hold them back. Whenever conventional wisdom said you have done well, they realized they were just getting started, and they could accomplish more. They found ways to press on whenever things got tough. What I come to realize is the difference between myself and Richard Branson isn’t that they are inherently smarter than me… It’s that they didn’t take no for an answer. They didn’t settle for second best. They always wanted to progress, to innovate, to automate, and to move forward.

If you have achieved what you set out to achieve, did you set your sights too low? Are your targets based on the preconceived notion that the level of success that you are achieving is really all you need to achieve? Reanalyze your aspirations and targets and figure out for yourself, do you owe it to yourself to shoot for something more.

To give you an idea, one of our former students, John Chartier, is someone who has gone through this process recently. John had created a comfortable business, learned to minimize the time spent on it, and had truly developed a passive-style income. His business ran with minimal investment (either time or money), and he made more than enough to live comfortably off the profits for the foreseeable future. There was a point that I was talking to John and his tone changed. He went from happy to thinking “I can do more.”  He knew he could grow his business, but wasn’t necessarily sure on the steps he should take.

If you have followed John, you too have got to see this journey. He started posting more, dedicating more time to learning, dedicating more time to his business. In the past few months, John has rededicated himself to his business, went and leased a warehouse, expanded beyond the lines that were comfortable, introduced new strategies, and introduced new philosophies to grow his business. Now, John has a new goal, he wants to break $1M in sales next year. John has truly analyzed his targets and set new goals!

Great is a relative term. To me, being great simply means achieving a level beyond my grasp. After you achieve that, don’t settle! Instead, like John, realign what a new target for greatness is, then shoot to achieve it. Analyze your business, analyze your situation and develop a road map to help you achieve what you haven’t already.

Have you let Good stand in the way of Great? How will you make sure that you are getting the most out of your business? Let us know.