Starting a business is never easy. If you are starting up a company for the first time, you will be making many mistakes and learning as you go. That is the primary reason why 90% of all startups fail within the first year of being in business.
If you want your startup to be in the 10% that go on to survive and thrive, you need to learn how to build a successful company from scratch. And even learn from the mistakes of other people.
This is where books can come to your aid. Many business books claim to teach you how to run your business successfully. You do not have to read volumes of business books to learn how to start up. Here are some books that will add value to your life (as a startup founder). These books have been selected based on the ideas within them that can help you create a successful business.
There are some core ingredients to a successful startup, such as the right company name, effective data-driven marketing, customer loyalty, and in some cases, funding. These books will help you choose all of these ingredients and make your startup a success.
The Lean Startup by Eric Ries
When founders first get the idea of starting a business, they tend to get very excited and make massive business plans, and some even go on to invest their entire life savings into the idea in the hope that the business will return handsomely. However, doing everything at scale is not always the right way to do it. The Lean Startup by Eric Ries focuses on running your startup in a lean manner that helps cut down costs and keep your runway as long as possible. Running your startup based on the principles in the Lean Startup will also help you make better business decisions as you have a small team, and your attention can be focused on only things that matter.
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The $100 Startup by Chris Guillebeau
Chris Guillebeau has written many books on entrepreneurship and business, but this is one of the best books to start with. The $100 Startup by Chris Guillebeau focuses on starting a business for as low as $100. With the $100 approach, you can the great thing is that even if your company does not get traction, you will not lose any funds. The $100 Startup by Chris Guillebeau is an excellent read for anyone who is looking to start something on a budget or a side gig while still keeping their day job.
Rokda How Baniyas Do Business by Nikhil Inamdar
Baniyas are a community of merchants, bankers, money lenders, and general business people in modern times. Why Rokda How Baniyas Do Business has made it our list of books for startup founders is because the book has some interesting stories about how Baniyas have the keen knack of observing business opportunities and converting them into profitable business ventures by adding value to the customer. We hope this book will give you some great ideas to get started by observing gaps in your area of expertise.
Hooked: How to Build Habit-Forming Products by Nir Eyal & Ryan Hoover
The next book on the list is Hooked: How to Build Habit-Forming Products by Nir Eyal & Ryan Hoover. Behind every successful business is customers who repeatedly use the product or service. This is called repeat users. The book Hooked: How to Build Habit-Forming Products helps you understand the mindset of users so that you can design a product or a service to which your customers will be hooked. This is especially useful if you are thinking of developing a technology product.
Mastering the VC Game by Jeff Bussgang
Startups with funding have a better chance of succeeding than other similar competitors. Funding enables a startup to hire the right talent, invest product development, invest in marketing, and rolling out offers to attract new customers. Mastering the VC Game by Jeff Bussgang is a book that aims to provide you insights on how to take your startup from funding to a successful IPO. Its an excellent book for anyone who wants to enter the VC funded business without making mistakes.
So there you have it, five great business books every entrepreneur should read to build a successful business. What is your favorite business book? Let us know in the comments section!
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