Being a young entrepreneur is all fun and games until you realize that you’re actually younger than everybody. Your knowledge might not be at the same level as those who’ve been in the business for twenty years and that scares you. No need to worry though, if you have a high teachability index, you will be fine!
All of us constantly look for inspiration, and what can be a better source than some inspirational literature.
Here are the 10 must-read books for young entrepreneurs,
1. The Psychology of Selling by Brian Tracy
Every entrepreneur knows that the key to a good business is good sales technique. Not only do you have to sell your product, but you also have to sell yourself and your idea. Having a great product doesn’t do anything if you don’t know how to approach the person and make them fall in love with you and the product. The Psychology of Selling by Brian Tracy gives you valuable information and strategies about how to make more selling by focusing on one thing – the person.
2. Rich Dad, Poor Dad by Robert Kiyosaki
What many focused on were only the real estate aspects of Robert Kiyosaki’s book series, but you don’t have to be a property investor to acquire a plethora of knowledge from this Kiyosaki classic Rich Dad, Poor Dad. What Kiyosaki was really trying to impart in this book was a wealthy way of thinking. A way of thinking that looked at true assets and liabilities and the mindset of the wealthy in assessing their finances. He shares examples from his own highly educated but poor father and those of a close friend’s father who was not educated but incredibly wealthy. In doing so, he emphasizes that it’s our thinking and not our educational pedigree that grooms us for our ultimate success in life.
3. Thinking, Fast and Slow by Daniel Kahneman
Daniel Kahneman goes over the two systems found in our mind, that can make or break our ability to move forward and succeed in life, in his book Thinking, Fast and Slow. He talks about the fast and emotional system, and the slow, more logical system that makes up our whole mind. He breaks down the various effects of each system on our success, mentality, confidence, and teachability index. Young entrepreneurs where raised in a fast environment, this book is a must-read for everyone who wants to get to the top of the tower without actually killing the dragon.
4. The 4-Hour Workweek by Timothy Ferriss
Who hasn’t heard of Timothy Ferriss? His name has been everywhere since he launched in his book, The 4-Hour Workweek. Nowadays, everyone is looking for that easy fix, and becoming an entrepreneur is all about enjoying the wonders of life without having to work 40 hours a week. Timothy knows that and therefore puts you in the right mindset to start building a business that will allow you to work not 20, not 10, but 4 hours a week and still build a fortune.
5. The $100 Startup by Chris Gillebeau
The $100 Startup is a very interesting book for anyone who feels unmotivated because they lack funds. You might be just out of College, or still in school and feeling unmotivated because of your lack of funds, but Chris turns the tables around and gives you the upper hand. In his book, he talks about 50 of the most amazing success stories of entrepreneurs who are making more than $50,000 and who started with only a few bucks in their bank accounts. This is the perfect book to motivate you to move forward without focusing on the money or the HOW. Get the idea, have the passion, and the rest will follow.
6. The E-Myth Revisited by Michael E. Gerber
The reason why The E Myth is a very, very important book to read is because it allows you as the person who calls themself the entrepreneur to realize that maybe you’re really not an entrepreneur. You think you’re an entrepreneur, but you’re not really an entrepreneur. Or, you are an entrepreneur, but you’re not paying attention to the other sides of the business which is the systems side. Because a lot of times the entrepreneur may be the visionary and not want to deal with all the minutia, and just want to go out there and do all this stuff, and they’re not really paying attention to systems and so you can’t really scale your business. He talks about that in the book.
7. Crush It! by Gary Vaynerchuk
Gary takes a very motivating and persuasive voice in his book Crush It! by motivating you to move on your passions. In his book, he goes other the many reasons why you should stop sitting on your couch dreaming about the day you will get paid to do what you love. He wants you to get out of your comfort zone and create a happy and passionate life for yourself. If you need that little extra nudge to move on your passion and create a business, this is your go-to book!
8. The Lean Startup by Eric Ries
The games have changed; building a business is no longer about updating the business plan every other week according to Eric Ries. In his book The Lean Startup, he goes over the various techniques an entrepreneur can use in order to create a business that will go against the odds and succeed. He takes on a more scientific and intuitive approach as to how to be a successful entrepreneur with a lasting business under your arm.
9. Rework by Jason Fried, David Hansson
Compared to Alexander Osterwalder, David Hanson and Jason Fried want to approach the other type of entrepreneurs – the ones who want fast results and don’t really care or have the time to go through all the basic steps. The two authors team up together to crunch down the basics and create a whole new system that will make you act upon your dreams and goals faster. Rework will motivate you to get up on your feet and move forward without planning the steps on a piece of paper before. This is for the go-getters who prefer to learn by doing!
10. Business Model Generation by Alexander Osterwalder
Business Model Generation is great for the visual entrepreneur. We’re all used to looking at pictures more than we are reading books, which is why Alexander Osterwalder wants to teach you the right way, according to him, to create a business plan and act on it. With pictures, graphs and timelines, this book is a must-have for every visionary young entrepreneur. If you need calendars, post-its and picture reminders in order to do something, this is for you. Build a successful business plan, and you’ll build a successful business. Back to the basics.