Becoming a successful entrepreneur involves much more than simply having a marketable idea. That is the first step, but so many entrepreneurs fail because they simply don’t understand the “how” behind their business. They fail to arm themselves with the knowledge needed to successfully run a business or market their product or service for success.
Learning from those who have already succeeded is one such way to gain invaluable knowledge; and there are literally thousands of resources right at your fingertips. Taking time to read and improve oneself is the surest way to make a positive difference in your life and your business.
“Knowledge is the key to confidence,” states Roy Murad, Business Advisor & Canadian Entrepreneur. “Imagine you are at a networking event and join a conversation with a potential business partner. Being knowledgeable about a range of topics will help you join that conversation more confidently, and share your opinion. Imagine the alternative.”
It is easy to spot a well-read entrepreneur. They are typically more thoughtful and ambitious in their approach to their business. They are voracious learners, taking in all they can get their hands on. For those starting out, take a look at these 5 MUST READ books to get you started.
- The Black Swan, Nassim Nicholas Taleb: If you are following my writings, you may remember an article I wrote on the theory of the Black Swan and how companies, large and small need to prepare for that unexpected disruptor to their business. A must read for all companies about the necessities of creating a thorough risk analysis and crisis management plan.
- You Can Be a Stock Market Genius, Joel Greenblatt: Joel brings his years of experience as a successful hedge-fund manager to this book that teaches even the most rookie investor, where to find those hidden gems that can turn big profits. Filled with case studies and real-life situations, you can learn from one of the best.
- The Intelligent Investor, Benjamin Graham: While many point to chapters 8 and 20 as the real gems, the entire book is worth reading. While written 40+ years ago, certain investing principles are timeless and are never outdated. Learn which of the two categories you belong – the Defensive Investor (a passive investor who will be satisfied earning the average market return), or the Enterprising Investor (one who are willing to put in the work to try to beat the market).
- Skin in the Game, Nassim Nicholas Taleb: In this thought-provoking book, Taleb challenges long-held beliefs about the values of those who spearhead military interventions, make financial investments, and propagate religious faiths. He examines the part ethics play in risk assessment & decision making. It will have you looking at the world and your own decisions in an entirely new way.
- The Little Book the Beats the Market, Joel Greenblatt: One of the classics of finance literature, this book explores how investors can outperform market averages by simply and systematically applying a formula that seeks out good businesses when they are available at bargain prices with easy to understand language, concepts and humour.
Ensure that you are also including books on topics of interest to you outside of business. Gaining knowledge on a variety of topics will enable you to converse more confidently with business associates, as well as personal acquaintances; and often provide you another perspective into the world we are living. You never know where inspiration will come from, so spread your net wide and soak in as much as you can.
About Roy Murad
Roy Murad is a father, husband, business advisor, investor, advocate for new business ventures, and consummate entrepreneur. Over the course of 35 years building businesses, guiding companies and identifying strong investment opportunities, while nurturing a thriving family, Roy Murad has amassed a wealth of experience; experience, that may be of value to others who are looking to shape a balanced and successful life experience.