I’m going to sum up my favorite 5 books about making money and succeeding in business and in life in a few lines each. Are you ready?
I’ve read a lot of books about success. I’ve read books about personal development, making money, starting a business and everything in between. I’ve found that for most of these books, their most important content can be summed up in about a paragraph.
This is if you remove all the stories, details, specifics and drill it down to what the book is basically saying. It’s not a substitute for reading the whole thing, and for that reason I’ve included the links to the books I’m talking about here along side each one.
1 – The 4 Hour Workweek by Tim Ferris
This is a great book about automation. The book explains things like the Pareto principle, (that 80% of your results come from 20% of the work and so on) and how you need to find the most effective things and do more of those things. It also explains how most email is not necessary and meetings could be reduced to phone calls and scheduled. Things should be time blocked so that you’re not spending more time than you need to on a certain thing.
It’s better to have lots of time to do what you want and a bit of money coming in automatically than to spend 90 hours a week working and getting £1,000,000 a year. This is referred to as the ‘new rich’ meaning rich in terms of how much time they have spare to do what they want in life.
You can find a ‘muse’ which is a way of getting passive income. For example you could set up advertisements leading to a sales page, on which you sell a digital product. This can be scaled through the internet and done fro anywhere with an internet connection. Get the book here.
2 – The $100 Startup
It’s a good idea to validate an idea before you start spending time on it. You can set up a basic sales page and send fairly cheap paid traffic to it to see if people would be interested in your business idea or product. If people sign up and/or buy from the sales page, there’s interest and it’s worth working on.
Multiple prices for what you’re offering are a good idea. Use your own social circles to help get publicity in the early stages. You don’t need a huge amount of money to start a business. Simple formula is to research what people (your market) want and then think about how you can provide them with it. Get the book here.
3 – The 10X Rule by Grant Cardone
You’re responsible for your actions and everything that’s happening or has happened in your life. Don’t blame anyone else and always move forward. Taking into account inflation, emergencies and the changing economy, you need more money than you ever thought to succeed and be comfortable in the future. You also need to take more action (10 times more action) than you’re currently taking or than you think you need to.
If you’re new to your niche or area of business your main problem is that no-one knows about you (obscurity) so your main taks is to connect with as many people as possible and make sure your name and brand are in everyone’s head when they think about your niche or about making a purchase. Get the book here.
4 – The Millionaire Fastlane
Using the internet you can leverage your skills and provide value to mre people. The more people you provide value to (help) the more money you’ll make. You’re looking to either build up equity in a company you own (You can set up a LLC for about $100 and build the equity to anything you can imagine). You can do this by increasing your reach and affecting more people. The best way to do this is through the internet.
You can either have a ‘sell out’ situation where you sell your company for a lot of money or you can build up the cash-flow on something like a website and then sell later. You can’t beat the laws of mathematics and you can’t become a millionaire working for an hourly wage unless you’re doing it on a huge scale (like a footballer). Software, websites, services and any other platform which can be scaled and leveraged through the internet is the way to go. Get the book here.
5 – Rich Dad Poor Dad
The rich buy assets the poor buy liabilities. This means that the rich buy things that will make them MORE money while the poor buy things which only COST them money like cars, entertainment, phones and gadgets. The rich would spend their money on things like notes, bonds, investments, businesses, patents etc. Things which have the potential to make more money. Get the book here.
Book reading tips
I read a lot. I think it’s been stated in many studies as one of the most common habits of successful people. It’s great, but you’ve got to remember to apply what you read almost instantly. This way you get the most benefit from what you’ve read. If you just read something and then forget about it and move onto the next thing, you’ve not achieved anything.
I like to highlight bits of the books I read so that I can look back at them later and read only the most important parts. This way I don’t have to re-read the entire thing, and I can skim back over books in 2-3 minutes when I need to know something.
I hope you enjoyed this post and remember, you’ll get a lot more value by buying the books. They’re the best book I have on my bookshelf about making money and succeeding in business, and they should be on yours too! If you liked this post, please share it with your friends.