Must read books for entrepreneurs
1. The E-Myth Enterprise
Author: By Michael E. Gerber
This book is about the difference between entrepreneurs and technicians. This book also helps the “technician” to reach the entrepreneurship stage. A straightforward book that distills the essential knowledge needed to create a completely original company. This quick, original, well-organized read is a valuable tool for budding entrepreneurs.
According to the author, there are two types of people who start the business. One is with a mission, vision, objectives, and goals. The other one is a who knows nothing about running a business, but he/she is having a working knowledge. The first one called as an entrepreneur and the second one is called as “technician”.
E- Myth: Most people who start businesses are entrepreneurs, risking capital for-profit.
Reality: Most people who start a business are Technicians.
Assumption: If you understand the technical work of the business, you understand a business that does that technical work. Most people set up the business as people dependent when it needs to system dependent.
Buy this book now: The E – Myth Enterpris: How to Turn a Great Idea into a Thriving Business
2. Zero to One
Authors: Peter Thiel and Blake Masters
For success, you need to avoid competition and create a monopoly. This book teaches why monopoly is critical, how to position your company and reach a monopoly. Completion lowers your profit and monopoly enjoys high profits. All failed companies are the same they failed to escape competition. If you want to do big business, start by dominating a small market.
- Make use of modern technology
- Leverage the Network of people
- Concentrate on a larger quantity of sales
- Strong branding is required for monopoly .
Buy this book now: Zero to One: Notes on Start Ups, or How to Build the Future.
3. The Lean Startup
Author: Eric Ries
This book is, especially for startup entrepreneurs. Too much planning and too little planning are risky. Planning and perfecting the product after thousands of precious work hours
and What if nobody wants this anyway? The goal of a startup is to figure out the right thing to build that customers want and will pay for as quick as possible
There should be a minimum viable product. A product made with a minimal amount of effort used to test specific value assumptions. The startup company should work on build – measure – learn -feedback loop.
Start up entrepreneurs should focus on
- user experience vision
- Identify Critical assumptions
- Collect the behavior of targeted customers, not the opinion
- Build an early version to validate a critical assumption
- Release and measure
- Pivot and preserve
Buy this book now: The Lean Startup: How Constant Innovation Creates Radically Successful Businesses
4.The Hard Thing About Hard Things
Author: Ben Horowitz
As per Ben Horowitz, there is no perfect way of doing business. How much planning you do, there will be lots of screw-ups in the business. There is no recipe for making great company, There is no recipe for making you a leader.
A CEO must think long and should be a good human being. Take care of your people. He must have empathy for his employees. Keep death in mind at all times. Live each day like it may be your last and conduct yourself properly in all your actions. Make the hard decisions quickly and don’t put them off.
Always hire a team whose ambitions complement those of the company. Maintain strict rules and policies that relate to performance evaluation. organizational design, compensation, and promotions.
The Ceo should always promote good employees after measuring their performance in an unbiased manner. There must always be direct meetings between managers and employees to ensure good ideas and pressing issues are brought in to the limelight. The first fule of the CEO psychological meltdown is don’t talk about the psychological meltdown
Buy this book now: The Hard Thing about Hard Thing: Building a Business When There are No Easy Answers