5 Authors on How to Build a Successful Business
Are you looking to launch a successful business?
According to Forbes, Britons have launched more than 600,000 new businesses in each of the past five years, which is a huge boost compared to the yearly 200,000 that was standard 20 years ago. Among the top 20 startups of the 2000s are Bulb and Deliveroo, which were only launched in the past decade. Starting a business is hard, but not impossible. It takes a lot of goal setting, accurate research, and loving the work. Part of that entails learning from other successful entrepreneurs. That said, here are our top five business reads to help you do just that.
The Founder's Dilemmas: Anticipating and Avoiding the Pitfalls That Can Sink a Startup by Noam Wasserman
Noam Wasserman is a Harvard Business School professor and a best-selling author. The Founder’s Dilemma is based on his research at Princeton, studying founders from various backgrounds, and breaking down their experiences. His work narrows down on the fact that ‘people problems’ can make or break a startup. The book is easily digestible as it uses identifiable examples like Evan Williams of Twitter and Tim Westergren of Pandora.
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Crushing It!: How Great Entrepreneurs Build Their Business and Influence-and How You Can, Too by Gary Vaynerchuk
In Crushing It!: How Great Entrepreneurs Build Their Business and Influence-and How You Can, Too, four-time New York Times bestselling author Gary Vaynerchuk provides a guide on how to navigate every current social media platform in the form of a lively, practical audiobook. Like the loaded title, the book itself is filled with both theoretical and tactical advice, as well as stories from other entrepreneurs and influencers who have built thriving businesses despite rejecting the standard corporate path.
Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz
Mike Michalowicz also wrote other business classics like The Pumpkin Plan and The Toilet Paper Entrepreneur. In Profit First, he breaks down the logical, albeit flawed formula of sales minus expenses equals profit. According to Michalowicz, businesses are run by humans, and humans aren’t always run by logic. He offers the solution of taking profit first and appropriating what remains for expenses. This has worked for dozens of case studies, and it just might work for you, too.
Leaders Eat Last: Why Some Teams Pull Together and Others Don't by Simon Sinek
In Leaders Eat Last: Why Some Teams Pull Together and Others Don’t, Simon Sinek compares and contrasts how some teams put their lives on the line for each other, while other teams can’t seem to be united no matter what incentives are offered. The answer became clear when a Marine Corps general told him: “Officers eat last”. The book dissects the cynicism, paranoia, and self-interest that can break apart corporations from the top to the bottom, which is crucial to know if you want your startup to thrive.
The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future by Chris Guillebeau
Guillebeau identified 1,500 individuals he met in his travels who have built businesses earning $50,000 from an investment of $100. This out-of-the-box guide is a result of the valuable lessons distilled from those entrepreneurs, such as finding the intersection between your “expertise” and what other people will pay for. And in most cases, an MBA, a business plan, and employees aren’t even necessary to get your startup up and running.
Learn from these successful authors, and you might just become one of those success stories you've always marvelled at! If you’re a newbie entrepreneur navigating the ins and outs of businesses, check out our Marketing Dictionary: Do You Know the Lingo to Succeed in Business? feature. There, we break down all the marketing terms you need to put together a stellar campaign, such as ROI, analytics, and churn rate. Alternatively, you could browse the rest of our site for more resources.
Written by Allaine Gwen Caine, exclusive for startupstreams.com