Why Smart Entrepreneurs Read Books

Why is that we were never interested in books as kids but now that we have entered adulthood… the era of entrepreneurship to be more specific, we are invested in finding out whatever we can about this challenging move.

Several start-ups and ten years ago, building your small business was not that hard. All you had to do was find a willing partner with the financial means, chuck in all your savings and you were good to go. Except only a few of these start-ups made it and the rest failed miserably. They either limped along, at the verge of extinction or a buyout would follow. Sometimes, the partners parted ways and the business was just left floundering.

Let’s fast forward to this period: today, people are more concerned about making money and a name that they fail to notice the small details. This is where entrepreneurs are winning because they have one secret ingredient that goes into creating a successful business: books.

Why Read Books?

In movies you see how a small start-up turned into a multi-national business. The industry is hard at selling us this myth, which is the reason why people fail. This is just fiction! What’s reality are the stories of struggling entrepreneurs you read in books.

Eric Ries, the writer of “The Lean Start-Up” wrote in his book, “The grim reality is that most start-ups fail. Most new products are not successful. Most new ventures do not live up to their potential”. In his book, he explained how he started his venture with his partner and failed because they didn’t have the insights into their target audience.

The reason why entrepreneurs read books is because they are open to learning from the people who were successful. What for them now is a struggle, was same for those entrepreneurs who wrote those awe-inspiring books.

The one thing all these books have in common is the advice that never focus on the money you will be making from your startup. A startup is not about money, a product or a service. It’s about an institution that you will be building from ground up. Its creating the brand image that will have people believing in what you are offering and who you are.

Ries says that the fundamental activity that will help you turn your idea into a product is “Build-Measure-Learn”. Your aim should be to reduce pivot, so that your customers don’t lose their loyalty. While you might be focused solely on your brand, there are a few boring things that you need to pay attention to, so that your brand doesn’t fail. From prioritizing work to measuring progress and setting up milestones, this is what Ries preaches.

There are thousands of stories written about their failure by entrepreneurs that tell you about how to step foot into this industry. Their advice will help you at every step of the way. You might make mistakes and encounter minor setbacks but their advice will give you precise direction of what you should do next.

2 Thoughts to “Why Smart Entrepreneurs Read Books”

  1. David

    Great advice, I fully support this direction.

    1. TheMoneyShelf

      Thank you for your feedback!

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