What are the best books for entrepreneurs? There are plenty of must-reads out there, but the 3 books for entrepreneurs I've listed have personally affected how I run my blogs - even though they're not even books about blogging.
If this is your first time here let me introduce myself. My name is Edwin, I've been making money online for 20 years now. I started my first blog, Cash The Checks, back in 2004 when I had no clue what a blog even was. After countless trial and error (and over 100+ blogs built) I managed to build a six-figure blogging business.
Fast forward to 2020 and I now help other aspiring entrepreneurs how to start a blog business of their own. You can read more about my journey here.
Over the years I've read (okay, audiobooks but it still counts!) a few books that have changed the way I run my blogs. I wanted to share these 3 must-read books for entrepreneurs.
How do you achieve anything in life? By working towards it, of course. It's a simple concept, but yet many people still think there is a way to lose 100 pounds in a week, get ripped in 30 days or become a millionaire overnight.
Many people believe in what Jeff Olson calls the "Quantum Leap Fallacy", that success happens overnight to lucky people.
It just doesn't work that way.
If you want to be successful, you have to take small steps every day (every second!) towards your goal.
The way he puts it, success is EASY. But the problem is that not succeeding is just as easy.
This is a good read for beginner bloggers because it shows that every step you take is part of the process. You don't just become successful overnight, success comes by focusing on growing every day.
You go to school, get a job, work hard, save money for retirement. Then when you're old and gray you can retire so you can start enjoying your life. That's the life many of us are being groomed for.
That life path scares the crap out of me. That is not going to be me!
This book explores another option. What if you didn't have to spend all day, every day going to work, being stuck in the rat race. What if there was another way. No, not another job, but another way of life.
In the 4 Hour Workweek, Tim Ferriss advocates for creating your own business and then outsourcing as much as you can.
Because time, not money, is our most precious asset.
Starting a business is the best decision I ever made. And it's one that has given me the freedom to work the hours I choose doing what I love.
It's amazing how one turn you take (or article you stumble across) can change your life forever. I hope this blog post and this book can inspire you to dream bigger. I know this book has definitely inspired me.
Tim Ferriss advocates outsourcing because he understands that time is our most precious asset.
Which do you pick?
Work 10 hours per day and earn $200 daily.
Work 1 hour, pay $100 in outsourcing and earn $100.
I'll pick the second one. I'll take less money if it will give me more time.
With that time I can choose to:
The idea is to work smarter, not harder, by outsourcing.
Here's another example:
Save money by mowing your own lawn and cleaning your yard.
Outsource it for $20.
I'll pick the second one. With this time I could have:
Here's one more example:
Guy #1 makes $100k working 60 hours a week working in NYC at a brokerage firm.
Guy #2 makes $50k. Has his own business. Works 20 hours a week.
I'll pick the second one here again.
While he may not have a lot of money, he has time, freedom and sanity. That, my blogging friends, is more valuable than any amount of money in the world.
In 1896, an Italian economist named Vilfredo Pareto showed that approximately 80% of the land in Italy was owned by 20% of the population. The 80/20 rule (also called the Pareto principle) states that, for many events, roughly 80% of the effects come from 20% of the causes.
This 80/20 rule happens a lot in the world. Let me give you a few examples:
You can also apply this to your business.
I apply this principle to my business all the time.
When I first started blogging, I spent an equal time trying to get traffic from Google, Pinterest, Facebook, Twitter, and guest posting. But just one glance at Google Analytics and I can see that I was getting more traffic from Pinterest.
Even though I was just spending 20% of my marketing energy on Pinterest, it was delivering 80% of my traffic. So, now I focus ALL of my marketing energy on Pinterest.
The same goes for the content I write. I noticed that I was getting 80% of my traffic from 20% of my articles. So I took this information and created more content on the topics that delivered the best results.
This rule also applies to time management. Ever notice you're only productive 20% of the time? I'm the same way. The end result was too many hours wasted on YouTube, Wikipedia, Pinterest, and Facebook. All of this wasted time is what led me to read this book so I can get better at time management.
When we identify and focus on the 20% that works and eliminate the 80% that is not working for us, that's when real progress can be made.
Hope you enjoyed the list! Please save this post on Pinterest to help me get the word out about the best books for (aspiring) entrepreneurs.