Many of you are consistent learners, like me! One of the easiest and low-cost ways of learning is by reading a great business book! Recently, I loaded my Kindle up with some to take on my upcoming trip…14 hours travelling will give me plenty of reading time.
But here’s the thing – NOT ALL BOOKS ARE MEANT FOR YOU RIGHT NOW – at your stage of business growth.
Here’s what I mean. I often see blogs listing great business books to read; then I go out and purchase them only to be disappointed. WHY?
Because I wasn’t at the right place in my business to get the most from the concepts shared in the book. So, I’ve created a list of great business books and segregated them by the various stages of business growth.
You’ll also noticed that at each level, I’ve included a ‘money-book’ – why? Because we all have money stories that impact how we run our businesses. Each time we level up, our money stories show up – often in different ways, but believe me, they are there!
So, let’s review the GPS Business Growmeter™ which explains the 4 stages of business growth (more on this in my book SHIFT INTO RICH, pages 34+).
Stage 1 – Glorified Employee
You’re running around like a chicken with your head cut off trying to do everything in your business. Your main business goal is survival. At this stage you are figuring out how to create offers & pricing; who is your dream client; how to communicate your value. You need information on how to make the foundational elements work in your business.
When you’re at this stage, I recommend reading:
SHIFT INTO RICH: Navigate the 9 roadblocks to small business success.
This easy-to-read business book offers sage advice as to why so many small business owners fail. Each chapter finishes with ACTION STEPS.
Business Made Simple by Donald Miller
It’s no secret that I love Donald Miller’s philosophy. I’ve read most of his books and taken courses from him. This book is a 60-day guide to the 10 areas where truly successful leaders and businesses excel. (The next book in this series I highly recommend is Marketing Made Simple).
You’re a Badass at Making Money by Jen Sincero
A refreshingly frank and entertaining guide for anyone who’s ready to start raking in the dough. It gives you the tools and permission to make the kind of money you’ve never made before and to live the life that’s always seemed to be beyond your reach. (BTW – I noticed this book now has a companion workbook).
Stage 2 – Manager
Okay, you’ve survived and now you’re making some money, but you might not have any time to spend it because you’re run ragged. At this stage of your business growth, you’re learning to grow (versus scale). You’re learning how to get more of those dream clients so that you have great cash flow.
At this stage, you need help to figure out how to get more customers and once you have this dialed in, you’ll want to learn how to leverage your time and put systems into your business.
If you’re at this stage, I recommend you read:
The One Thing by Gary Keller
Gary Keller understands entrepreneurs! We want less (distractions, less on our plate) and we want more (more productivity, more income, more satisfaction). His book shows you how to do both; how to master what matters to you!
Deep Thought Strategy by Steve Lowell
My friend & mentor Steve finally wrote his book based on how thinking big, kept him playing small! It’s not about thinking bigger but going deeper. Steve is a master at deep thought. This book should stimulate your thinking.
Overcoming UnderEarning by Barbara Stanny
Barbara shares her struggles with money even though she was born with a ‘silver spoon’! This is a MUST read – each one of us has money stories and they impact how we run our businesses day to day. My copy of this book is dog-eared; marked with post-its; underlined and … well used.
Stage 3 – CEO
At this stage, you’re earning good money but now it’s time to scale so that you finally have more of that elusive freedom you’ve been seeking! Leveraging your time with systems and strategically placed team members becomes critical.
Now it’s finally time to scale or make everything bigger without incurring rising costs.
It’s time now for books such as:
Traction- Get a grip on your business by Gino Wickman
In Traction, you’ll learn the secrets of strengthening the six key components of your business. You’ll discover simple yet powerful ways to run your company that will give you and your leadership team more focus, more growth, and more enjoyment. Successful companies are applying Traction every day to run profitable, frustration-free businesses—and you can too.
Profit First – Transform your business from a cash-eating monster to a money making machine
This author has done it again – he continues to go against conventional wisdom but … he’s right! Conventional accounting uses the logical (albeit, flawed) formula: Sales – Expenses = Profit. The problem is, businesses are run by humans, and humans aren’t always logical. Serial entrepreneur Mike Michalowicz has developed a behavioral approach to accounting to flip the formula: Sales – Profit = Expenses. Just as the most effective weight loss strategy is to limit portions by using smaller plates, Michalowicz shows that by taking profit first and apportioning only what remains for expenses, entrepreneurs will transform their businesses from cash-eating monsters to profitable cash cows.
Rewire for Wealth: Three Steps Any Woman Can Take to Program Her Brain for Financial Success
I’ve read several of Barbara Stanny’s book but this one is a bit more advanced.
COMING IN OCTOBER … A compilation book with Brian Tracy + others including myself!!! (BTW it will have my face on the cover—more info soon).
If you have a favourite business book, I’d love for you to share it with me and others in the Facebook group here
YES, you can do it!!