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Starting a new business is no small undertaking. There are many factors to consider and it is important that you do your research and prepare as much as you can because according to the US Small Business Administration, 50 percent of startups fail in the first five years.
Over the past 15 years, I’ve had the opportunity to be a founder or co-founder of three companies in three different industries. During this trip, my teams and I got many things right and many things wrong. Building a business is a daunting task – from initial brainstorming to concept planning and validation, to fundraising, staffing, and profitability. There are many pitfalls in the business journey that could completely destroy your business.
Fortunately, I had the help of several writers. In fact, I’ve always been an avid reader. From my first business reading, Og Mandino’s classic “The World’s Best Salesman” from 1968, I developed a hunger for learning. I satisfied that hunger by devouring (by my estimate) 1,500 books on business, leadership, startups, corporate finance, culture building, and many more business-related topics.
I believe that the information I have included in these books and the validation I have received from these authors / mentors have helped me avoid many bumps on the road to business success.
Today I can regularly speak to inexperienced entrepreneurs and students who are on the way of doing business. I inevitably encourage you all to read books related to your company and your management. It’s a free education. There are thousands of books that can be used to educate new entrepreneurs about their activities. So I wanted to recommend five books that I think will help every entrepreneur to be successful with their startup.
Each title in Spanish is a work available in our language with a link to its Amazon page.
I learned many lessons from Eric Ries’ book. One of the biggest difficulties in starting your own business is managing cash flow. You know the old saying, “Money is king.” I don’t think anyone can go far enough to explain the importance of cash flow management to a new business owner.
Lean startup is a book that serves as a guide to the many changes that starting a startup brings with it. You will learn how to manage your budget effectively, giving you the freedom to innovate and navigate the business world. If you want your business to thrive, you need to have accurate and effective budget management in place.
I have personally given over 200 copies of this book to new business graduates and friends I have met. The book is based on Wasserman’s research at Princeton, where he did an excellent job studying founders in many industries and describing their good, bad, and ugly experiences.
The book is compelling because it uses identifiable examples like Twitter and other recognizable companies. It is a must have for anyone looking to start a business.
This book focuses on helping entrepreneurs take proactive steps to avoid mistakes that are common but can have a very negative impact on their business. It introduces new entrepreneurs to the business structure and helps them better understand everything that helps keep things running smoothly. This is a great book that will teach you how to properly run your business and everything related to it.
This is a classic for a reason. The Peter Principle is an amazing book that will help entrepreneurs understand when they will reach the “point of incompetence” and how to recruit great people to help them.
Why are things going wrong? I think it’s safe to say that every business owner has asked this question at some point. This book answers the question by addressing the problem of incompetence in today’s workforce. You will learn how important people are and how they can make or break your business.
Over the years I have come to realize the importance of creating a fun and warm culture in my company. The world’s leading teacher of corporate culture creation is Walt Disney. In this book, the authors do a better job than any other book articulating how the founder thought and what actions led to the creation of the culturally richest company in the world.
This book describes how Walt Disney’s mantra “Dream, Believe, Challenge, Do” helped transform businesses around the world. Here you will learn how you can create the most productive, effective and positive environment for your employees and customers. With the Disney Method, you can participate in changing our culture and affect your industry for the better.
Behind the cloud I just jumped on my list of the five best books to read. Chris Brady, a leadership expert for Inc. magazine suggested reading this book, and I am very grateful. Is the story of Salesforce.com and how Marc Benioff and his team built a world-class company before the term “in the cloud” existed. Salesforce.com has been a leader in innovation since its inception.
This book describes the company’s smooth path to success and shows how you can leverage the unique characteristics of your company to generate massive income. This work is an excellent resource for your company to stand out in no matter what the circumstances.
Whether you are a seasoned entrepreneur or a beginner just getting started, you should never stop looking for ways to improve your business. Examine your strengths and weaknesses and look for the areas where you want to grow. Maybe you want to learn how to budget better, or you want to strengthen the structure of your business. Regardless of what aspect of your business you want to improve, there is a book out there to help you do that.
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