Entrepreneurship

4 Books to initiate your business journey in 2021

By Lionel Alva

The words swim around your eyes: You see numbers, patterns, and a vision for the future. You constantly ask yourself about a specific market problem that you can solve. But what happens if things don’t go according to plan?

It’s true that starting a business can be a roller coaster ride; it isn’t everyone’s cup of tea and may often require nerves of steel. In many ways, becoming an entrepreneur can be like bungee jumping as you are exploring a whole new territory of growth. Limiting beliefs, impostor syndrome, a detrimental mindset, initial setbacks, and adverse market conditions may often stand in your way.

Ostensibly, setting yourself up for success as an entrepreneur requires a great degree of market research. The learning curve is also made easier by examining tried and tested business strategies through books and other mediums.  Based on insights from the balancesmall business, let’s take a closer look at some books that can have a trenchant impact on aspiring entrepreneurs.

Will It Fly?

Pat Flynn has established himself as an online passive income expert and is regarded as a thought leader in the field of entrepreneurship. He gives practical, real-world guidance in “Will It Fly?” on how to test out company ideas before you start to ensure they’re viable, realistic, and profitable.

The book takes readers through five steps: Ensuring that your business idea aligns with your goals; analysing details about your idea that you may not have considered; assessing the market for your business idea; testing your idea; and, finally, deciding whether to pursue your idea or return it to the drawing board.

It’s a wonderful option for anyone who feels they have a brilliant company idea but wants to get some additional confirmation before investing time, money, and effort into creating it.

Best for Branding: Crushing It!

Developing a recognised brand may be the difference between a decent and a great business. Before you even launch your business, start establishing your brand so that once it’s up and running, you can start engaging with your target audience and earning sales.

Gary Vaynerchuk recognises the value of excellent branding and has positioned himself as a thought leader in the business community. He outlines why having a well-defined brand is important and the basic concepts of successful branding in “Crushing It!”

He breaks it down with a simple formula for handling the financial aspect of operating a business in a way that even non-accountants can comprehend. It’s a must-read if you want to lay a strong basis for managing cash flow from the start.

Best for Managing Finances: Profit First

One of the most difficult tasks for budding entrepreneurs is figuring out the financial aspects of beginning and maintaining a firm. You want to make money with your company, but you also need to know how to invest for growth and what to do with the money you make once it begins coming in.

In his book “Profit First,” Mike Michalowicz discusses some of these topics. His book is designed to help you enhance profitability in your business, regardless of where you are in the life cycle, and sustain positive cash flow so you can avoid the financial difficulties that new firms frequently face.

Women Who Launch

This one is specifically for women entrepreneurs.  When it comes to things like acquiring finance, women frequently face unique barriers and problems when establishing their own business. It might be frustrating, but “Women Who Launch” provides encouragement and incentive to keep pursuing business success.

Wagman-Geller covers a number of female entrepreneurs who have surmounted obstacles and built their own businesses. Although the stories are varied – Spanx creator Sara Blakely and Girl Scouts founder Juliette Gordon Low are both included – the underlying idea is universal. The book is a tribute to women who have taken control of their professions and left enduring corporate legacies.

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