Top 10 Books for Entrepreneurs

The Top 10 Books for Entrepreneurs.

1.  Start with Why: How Great Leaders Inspire Everyone To Take Action – Simon Sinek
2. The Lean Startup – How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses – Eric Ries
3.  The 22 Immutable Laws of Marketing: Exposed and Explained by World’s Number Two – Al Ries & Jack Trout
4.  Thinking, Fast and Slow – Daniel Kahneman
5. The Subtle Art of Not Giving A F*CK – Mark Manson
6. The Power of Habit: Why We Do What We Do In Life and Business – Charles Duhigg
7. The E-Myth Revisited – Why Most Small Business Don’t Work and What To Do About It – Michael E. Gerber
8. Contagious: Why Things Catch On – Jonah Berger
9. Zero To One: Notes on Startups, or How to Build The Future – Peter Thiel and Blake Masters
10. This is Marketing – Seth Godin

Read more below with more description regarding the content of each book.

1. Start with Why: How Great Leaders Inspire Everyone To Take Action – Simon Sinek

The book by Sinek (2014) entitled, “How great leaders inspire action” delves on how organizations and leaders can develop a sustainable chance since they inspire others. For this reason, Sinek explicates what it implies, to begin with, ‘why’ and how it can develop lasting accomplishment in an organization and individual.

About why

Sinek (2014) asserts ‘why’ as a powerful tool that creates a characteristic of human connection as to why people want to distribute their values and beliefs in organizations. According to the author ‘why’ induces emotional decision-making since the area of the brain that is involved in feeling also determines our decision-making. Therefore, decisions generated from emotions are produced rapidly and of good quality

Brands

Sinek (2014) postulates of ways to fashion the direction of a human being through influencing the business at a cost within a short-term period. He also adds that businesses concentrate on competitors activities and do not focus on the business ‘why’ and for this reason, they drive their energy on the competitors wants. When it comes to separating and raising a product in the market where competitors cannot offer an alternative the ‘why’ assist. Sinek (2014) also elucidates that when a business creates an ideology of why it is displaying to the market its values. However, a products ‘why’ lasts forever and it is difficult to duplicate. Additionally, the ‘why’ in innovation assist in developing assistance through trust and beliefs of a product. Sinek (2014) asserts as to ‘why’ assist a product to move and expand its market share by supporting premium pricing and maintaining a true and focused product.

Organizations

According to Sinek (2014) employee, attraction and engagement are like a product that brings truehearted customers, therefore, a business narrates its ‘why’ story to attract employees. This result in the ‘why’ stimulating the engagement and loyalty of the employees. Moreover, the ‘why’ helps in steering the business against unforeseen future. The ‘why’ can be used to determine the direction and decision making of the business, how it keeps people together and with the lack of ‘why’ the employees cannot be treated manually. If a business does not have the ‘why’ the business will lose direction.

Personal leadership

Sinek (2014) describes how accomplished leaders lead the businesses but not run the business. Additionally, the reason behind the ‘why’ is normally positioned next to passion and new leaders have the same ‘why’.

2. The Lean Startup – How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses – Eric Ries

According to book by Ries (2011) entitled, “The lean startup: How today’s entrepreneurs use continuous innovation to create radically successful businesses” suggest that the Lean Startup is not about developing a new business, but produce new products and services based on uncertain situations, minimizing wastage and developing condition conforming to businesses that can succeed in a fast changing environment. In this summary, the paper will provide perspectives of the Lean Startup concept and its important principles.

The five Lean startup principles

• Based on Ries (2011) entrepreneurs are not in all the places, therefore, a startup cannot be determined by the size of the business, industry, and organization type but an intrapreneur in a prominent business is an entrepreneur similar to the founder of a new business.
• Entrepreneurship is management because a startup is an essence of an establishment that requires to be managed.
• Lean startups build-measure-learn feedback loop enables an individual to gain knowledge in the developing stages of a business and create invariable adjustments so that a person can make a decision on whether to maintain or change the course of business.
• Validated learning is crucial for startups since it enables an individual to break down. The attempts are important to determine which ones are inefficient, then consistently removing the uneconomical ones.
• Innovation accounting is needed to determine achievements and prioritize assignments by producing outcomes and enabling a person to develop a learning milestone to reach out for achievements.

Three phases of the lean startup

Phase one: vision

This is realized by engaging of a strategy and developing products and services that grasp vision by separating the elements of grand vision into smaller elements and determining the most risk component or leap of faith assumptions.

Phase two: steer

In this phase, an individual will construct an experiment to measure the hypothesis linked to vision to determine and elaborate significant constant learning and innovation accounting to assist an individual decide to change the business course or hold on.

Phase three: accelerate

Phase one and two give direction on the foundation for the initial stage of acceleration. In this phase, an individual goes through response and then tone up the foundation for progress and invention using the small batch approach, just in time production concept, five whys system, and other components

3. The 22 Immutable Laws of Marketing: Exposed and Explained by World’s Number Two – Al Ries & Jack Trout

The book by Rise & Trout (1993) entitled, “ The 22 immutable laws of marketing” delves on how an individual concentrate on marketing attempts rather than wasting money, energy and time in wars that have no chance. This summary will provide the three lesson acquired from reading the book that includes; if you cannot be number one then be number one in peoples head, develop your own concepts to escape competition and always recall that every product is accompanied with opportunity cost from the 22 immutable laws of marketing

Lesson 1: Becoming number one in the market or people’s heads

Rise & Trout (1993) begin their writing by explaining the law of leadership that if a product is first unique in the market, there is a high probability that it will be a market leader. By having, a first moving product an individual can take advantage of the lag time of the competitors. Likewise, another way of becoming a market leader is through concentrating in the heads of the customer if another person has made a move before you and this is known as the law of mind

Lesson 2: Develop your own concepts to avoid competition

According to Rise & Trout (1993), the law of category an individual can create a new concept and you will be the first

Lesson 3: Always recall that every product is accompanied by opportunity cost. Concentration is crucial.

Rise introduces himself as a concentrating consultant and in his mind, he was aware that in successful marketing normally implies that one has to surrender something to pursue. Based on authors the research the law of sacrifice states the larger the amount of product you offer, the less the time you will have in order to make a single product successful. Sacrifice must be made on the side of the product as well as the side of the customer.

4. Thinking, Fast and Slow – Daniel Kahneman

Based on the book by Kahneman (2011) entitled, “Thinking, fast and slow” delves into a discussion concerning two modes of thought process that it was described as “system 1”, which is fast, emotional and instinctive and “system 2” that is slow and it more logical and deliberative. The books offer a summary of the two systems, choices, biases, and heuristics, overconfidence as well the two selves as factors that affect thinking fast and slowly. Concisely, the book examines the relationship between emotional thought verses a more logical thought, making it quite transformative in influencing the way people think. The summary will use a similar format to the author’s book and will discuss each of the five parts.

Part 1# two systems

The authors reiterate that “system 1” is fast emotional and instinctive with less comfort and feeling of control thus it influences all the choices and judgment of individuals. On the other hand, “system 2” that is slower, logical and deliberate resulting in thinking complexities and mental exhaustion. Kahneman & Egan (2011) suggest that “system 2” is the dominant system since “system 1” will eventually lead into troubles in the future, in this scenario “system 2” will provide the required support.

Part 2# Heuristics and Biases

Kahneman & Egan (2011) gives reasons why the two systems are different when it comes to doubt because “system 1” is not able to undergo doubt as compared to “system 2”, as the capacity to experience doubts. The author expounds that the two systems can be demonstrated in the effects of random anchors based on choice and judgment. Kahneman & Egan (2011) recognize the insurmountable task of refraining from the biases by explaining the significance of doing a task to eliminate the risk of errors. According to Kahneman, “system 1” has the capacity of making extreme predictions while “system 2” had troubles with regression

Part 3 # Overconfidence

Kahneman (2011) elucidate that by knowing the past we can determine how the future looks like, but now, we do not know about the past. He adds on by explaining the importance of language in designing our reality. On the issue of hindsight, Kahneman describes decision makers as individuals who struggle a lot because it is not hard to blame the decision makers when decision made goes wrong. Based on system one the author postulate the world should be straight forward, predictable and simple to understand. Nonetheless, this just an illusion. In developing predictions and assumptions about the future, errors cannot be avoided that is why Kahneman provided reasons that we can pick some lessons from these errors.

Part 4# Choices

The author recognizes that many people do not take delight in risk and they always keep off from it. On the subject of loss aversion, Kahneman explains it as an intention to keep off from losses as stronger than intentions to accomplish something. The author knows that defeat is not light to tolerate that is why wars never end even if the losing side understand that they cannot win. Kahneman also explicate that regret is both a punishment and emotion

Part 5# two selves

According to Kahneman, a decision-making is determined by memories, which are always wrong since 15 minutes ago memory can be remembered distinctively separately. The author echoes that emotional well-being and mood can vary in different ways along the day, so the scenario facing a person can influence the mood.

5. The Subtle Art of Not Giving A F*CK – Mark Manson

According to the book by Manson (2016) entitled, “The Subtle Art of Not Giving a F* ck,” helps to breaks down issues that matter to us and not accepting the fact about other things in life into three lessons. These teachings include values that a person cannot manage, which are not good to follow, an individual should not assume everything with certainty, and making an effort to leave a legacy that may destroy one’s life. The summary of will be divided into the following subtopics

Focus on values that an individual can manage

Manson (2016) displays stoicism in his writing by explaining the need to focus on things that matter since they are not hard to implement and understand. He makes it interesting by maintaining selected values that can be managed and not lose focus on good values since bad values cannot be managed and will lead to unexpected suffering in life. The author mentions honesty as a value that can be managed 100% while popularity is out of reach and punctuality is slightly manageable since it can be replaced with kindness.

Certainty inhibits development

Manson (2016) describes why he refusing to accept the idea that a person does not know anything about the act as a good foundation to begin the learning process. This is important in inventing knowledge and assist in developing excellent conclusions and vital for achieving conceptual knowledge. He also expounds the effects of implicit knowledge on the association between varying entities.

Do not think about leaving a legacy

Manson (2016) says it clearly that the more a person is inclined to creating a nice body in the workplace, the higher a chances that a person may begin to follow fame. This will eventually destroy the person’s important time here in the world. He also adds by writing that a person should create a process to bring the loved ones and people we meet now and allow legacy to take its course.

6. The Power of Habit: Why We Do What We Do In Life and Business – Charles Duhigg

The book by Duhigg (2012) entitled, “The power of habit: Why we do what we do in life and business” offers an explanation about the science of how habits are formed and how we can change and rebuild them. The author uses the theory of power of habits to elucidate of how habits are shaped. This book describes the science of how habits influences that lead to an alteration of habits at three stages that include; individuals, society, and companies. The summary of the book will be organized in the following subtopics

Habits of individuals

Duhigg (2012) explains how habits of individuals emerge by informing the brain to switch to an independent mode by constantly looking for ways to save effort. The habit formation within the brain is a three-step loop. Cue is the first to trigger the brain into the automatic mode. Then there is routine that can be an emotional, physical, and mental automatic response, Lastly, there is a reward that can help the brain develop a positive memory based on feelings that identify if a person will recall response loop in the future. The book states that habits cannot be eliminated but can be reconstructed and replaced through changing the procedure whereas maintaining cue and reward invariable. Duhigg (2012) divided the habits of transformation into four procedures that include; determining the routine of carrying out experiments with rewards, determining and separating the cue based on the habits.

Habits of organization

Duhigg (2012) expounded how the concepts of habits creation and transformation can be incorporated into firms through the following ways. First, a keystone habit in which normal procedures in a firm seizes the rules that are not written on how procedures are adhered to as well as how to prosper and survive in an organization. Secondly, it opines how each individual has a limit on willpower and how it can reduce employees discipline and energy while experiencing a difficult scenario. Thirdly, it shows how it takes a crisis to develop an impetus for important changes. Last but not least, it molds customer’s habits so that new habits can be incorporated into normal and known habits.

Habits of society

Duhigg (2012) makes reference of three key parts of a social movement at the organization, which includes the habit of friendship that illustrates why we are programmed to respect and assist other people. Secondly, is the habit of community that is important in developing social movement and finally, are habits that maintain movement for a long-term basis.

7. The E-Myth Revisited – Why Most Small Business Don’t Work and What To Do About It – Michael E. Gerber

The book by Gerber (1995) entitled, “The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It” explains how operating a firm and obtaining technical job for execution are two separate things and tries to emphasize on how to start up a business that relies on systems rather than employees skills.

Based on the book possessing many technical skills do not imply that an individual can manage a business. Indeed, Gerber (1995) mentioned that four out five businesses do not proceed after five years that is due to the entrepreneurial myth that having technical skills makes an individual a good candidate to run a business that is not true. Nonetheless, Gerber gave the solution to this problem by advising them to rely on systems in order to sustain and grow the business by stating that intending to go countrywide privilege then it imperative to begin with a single store.

Similarly, it is crucial to develop a system of systems so that the business depends on employee technical skills. If an individual constantly emphasizes the idea of systems then final results emerge of systems, which work hand in hand. This implies that single parts on the systems can be altered to have the desired outcomes. The book refers to three types of systems that develop a business. First, is the hard system that includes non-living objects like the ovens. Secondly, is the information system that comprises training manuals and material that are used to collect data from the customer and finally, the soft systems that consist of living things and ideas. These systems will help an individual make the system run smoothly making the future goals and objectives successful.

8. Contagious: Why Things Catch On – Jonah Berger

Based on the book by Berger (2016) entitled, “Contagious: Why things catch on” helps to explain why the development of the internet has become viral but the remarkable development of social epidemic on products, behavior, and ideas has become popular and it has scattered widely and quickly. Berger’s research had created social currency, triggers, public, practice value, emotion, and stories that may assist in the social epidemic. The summary will offer a synopsis of the major themes discussed in the book

Social currency

Berger (2016) defined social currency as to how something of significance causes individuals to create an impression for distributing it. A person always desires to appear, for example, knowledgeable or entertaining to others. Therefore, products, behaviors, and ideas can be changed in various ways to facilitate them to consume more of each other.

Triggers

Berger (2016) referred to triggers as an input to the surrounding that relates to other remarkable development and makes people recall them. Behavior, products, and ideas that are related to triggers are often met regularly, are more likely to be remembered than others, which influence the likeliness, that they will be talked about, and alter our behavior.

Emotions

According to Berger (2016), emotion is a concept that enables an individual to bring into mind positive and negative emotions that are highly arousal (excitement) hence they have high chances of being distributed. On the other hand, the phenomena that bring small arousal (sadness) are not likely to be distributed. By sharing something into charity, assist in bringing it to the public that eventually influences its success.

Practice value

This refers to a concept whereby an individual prefers to assist others, which explains why anything that is of help is likely to be distributed than the one that is not of helpful. This implies that many journals on education and health subject are likely to be distributed.

Stories

Berger (2016) described that people will always enjoy listening and narrating stories, therefore products, ideas, and behaviors that are hidden in narratives have a high probability to be distributed as compared to those that are directly presented.

9. Zero To One: Notes on Startups, or How to Build The Future – Peter Thiel and Blake Masters

The book by Thiel & Masters (2014) entitled, “Zero to one: Notes on startups, or how to build the future”, provides an approach on how to develop the business future and nurture it through three ways. These include the largest leap in advancement that is vertical, why monopolies are important for the society as well as the business, and why founders must have a vision in order to steer the business from zero to one. The summary will delve further how these ways to nurture a business

The largest leap in advancement is vertical

Thiel & Masters (2014) illuminate why advancement cannot be the same and the progress experienced on a daily basis that is horizontal. This implies that the advancement distributes technology and ideas from one to none. On the other hand, vertical advancement develops ideas and technology from zero to one.

Monopolies are important to the business and society as a whole

According to Thiel & Masters (2014) monopoly is whereby a single business is performing its activities in a good way than the others such that other business cannot compete and survive. The community should embrace monopoly, as they are what any business shoots for.

If a business does not have founders with vision then the business will maintain at zero and not go to one

Thiel & Masters (2014) finally work explained why developing a monopoly could not occur overnight. Therefore, becoming different from others in an awkward way is what enables leaders to create a distinguished appearance of the business. With a bit of vision for the future is what is required by the businesses to progress from zero to one.

10. This is Marketing – Seth Godin

The book by Godin (2018), entitled, “This Is Marketing,” tries to explain three lessons in marketing. These lessons consist of; an individual has to determine the lowest variable audience for any organization, patterns must look similar in initial development and one of the greatest marketing methods is to express in a speech by telling the audience to narrate themselves on affliction and status.

Determining the lowest variable audience

Godin (2018) clarifies the importance of concentrating on a specific problem for a given type of individual because it would be difficult to impress everyone utilizing different types of solutions. Moreover, concentrating on a smaller market may look like contrary to common sense since it will assist in finding solutions to their problems rather than having a wide market with problems that cannot be solved. As time goes by, an individual will become an expert in performing it and people will be aware of it that will eventually lead to an increase in goods and services.

The greatest marketing method is expressed in a speech by telling the audience to narrate on themselves on affliction and status.

The opposite of what individuals believe that the aspect of a product determines if a product will sell or not. Furthermore, it is not even the gains the customer acquires but it is the universe view that influences what they buy, what they do, and where they buy. This is why Godin suggested that it is essential for the marketing team to know these views and seize them.

Patterns look similar in the initial development

According to Godin (2018), every individual is a person of habit and that is why we follow the same procedure every day. The higher the amount of pattern an individual generates the less the number of choices an individual needs to decide hence making our lives easier. Every individual requires patterns that are similar to develop and blend into the smallest viable audience. This will lead to patterns that are similar based on every product and services.