According to Forbes, 90 percent of the start-ups fail within the first two years. This hard and bleak truth about starting a new business stands in contrast with the glitch and glamour of being a successful entrepreneur. The U.S. Census Bureau reports that 400,000 new business ventures start every year in USA, but only 30 percent survive. The figure is scary enough to make you drop your plan of starting a business right now.
But if you try to see it from a different perspective, the figure shows that only the business with matured ideas survives.
When situation is highly competitive, make sure that you stand apart with your idea!
When 70% of new businesses are dying, what is the reason behind the rest of 30% being successful? Cold statistics are not intended to discourage you if you are dreaming of being a successful entrepreneur someday. But it has been cited to make you aware of the competition that you are going to face and to help you in planning accordingly.
“It’s not about ideas. It’s about making ideas happen.” — Scott Belsky
— Scott Belsky
So what do you require to make your unique idea prosper. If you are someone who believes that your idea can change the world, then this post is a must read for you.
No one has ever said that starting your own business is easy. If you already have discussed your dream with your near and dear ones, then we assume you already have been told about millions of reasons not to go for your own entrepenurship. Some would have said starting your own business is risky; you might go into debt, work-life balance will be disrupted and so on. Some others may have warned you that starting your own business brings a lot of uncertainty. But no one must have encouraged you and told you about the greater possibility of success. However, we know that the yearning to be your own boss is always burning within you, and you must be planning to be a successful entrepreneur.
Starting your own business may have many loopholes and backdraws, but people do get attracted to the start-up culture. There are few if not several reasons for you to consider starting your own business. Not to convince but to clear your mind, here we list those reasons.
1. Do Something for Yourself
Many of us continuously complain about our current job, companies, bosses and salary. But we just complain, we don't take any initiative to solve the issue. But let's face it, the only chance you have to make things right is taking things in your own hand. Starting one’s own business brings positive changes to those who are serious about doing something extraordinary with their life. Taking up a business initiative makes you feel powerful. If you feel stuck in life and don't have any clue what you want to do once your college gets over, then you can seriously consider doing something on your own accord.
2. Planning for Business improves your chance of Success
Planning for something makes you well aware of what is happening around and what can happen in two years down the line. Starting your own business will give you ample time and ways to plan for your success, something which is impossible when you are doing a boring job, and you can't apparently outline where you want to see yourself in next five years.
3. Be an Expert
Starting your own business means regardless of what you do as an entrepreneur, you are sticking to it. And with times, you will be the best at it. After some years, you will be able to shape lives and preach your beliefs. If your business becomes successful, your name will be counted as one of the experts.
4. Financial Independence
Let's be honest; probably this is the only reason you are looking forward to starting your own business venture. If you become successful as an entrepreneur then in whatever terms you define financial independence with, you will be able to achieve every one of those.
5. Creating jobs and your Distinct brand Identity
Being an entrepreneur brings to you the power of creating jobs. Your idea can provide a several people the opportunity to earn a living. You as an entrepreneur are offering some people the chance to do what they love. Besides creating jobs, being able to build a brand and being known for something makes you feel special; it boosts up your self-confidence. When your dream has a name, and people are referring to you as something like a ‘wizard with words’ or ‘marketing maestro’, it's fun and exciting.
"To succeed, we must first believe that we can"
– Nikos Kazantzakis
But here comes the question how many of you dream of being a successful entrepreneur? The answer is very few as most of you are attracted to secured jobs; you have completely forgetten about the thrill that the idea of being your own boss used to bring to our minds once. So, for those who are dreaming to be a successful entrepreneur, you need to keep the fire burning inside you. In order to do that, you need fuel. Your determination and motivation canl act as your fuel.
So to motivate you to not give up on your dreams, here we list the best books recommended by today’s top entrepeneuers to plan your business successfully and hold on to your dreams. Here we have listed the top recommended books that every aspiring entrepreneur should read.
1. My Life in Advertising by Claude Hopkins
This book talks about the inside world of advertising, the intricacy and functioning of this industry and most importantly this book leads you to the inside of one of the greatest business minds of all time. If you are really interested in starting a business related to advertising, then this book should be your bible.
2. The Effective Executive by Peter Drucker
This is one of the three books that Amazon's CEO Jeff Bezos recommends for reading. The book contains ideas about unconventional management related functioning. It also simplifies some of the basic concepts of management. This book preaches about how manager and employees should work towards common goals. This book also talks about time management, about how to make quick and sound judgments and how an executive can be more productive and valuable for an organisation.
3. The Innovator’s Dilemma by Clayton Christensen
This one is one of the most influential books of all time and one of the top pick of several successful business founders and CEOs. Christensen has unlocked the ‘how to do’ part of any business. Every aspiring entrepreneur can read this book to know how to beat big companies and how to set their foot in the highly competitive market. Chris Dixon, an investor with Andreessen Horowitz and CEO of Hunch says, this book popularises the phrase disruptive technology and for the very first time explains that this is more than just one big idea. This book provides insights into the different dynamics of different markets.
4. Benjamin Franklin by Walter Isaacson
Elon Musk, the billionaire CEO of Tesla and Space X, says there is no book which is more dear to him other than this one. This book portrays Benjamin Franklin's life, how he started with almost nothing and became one of the most successful entrepreneurs of all time. So this book isn't only about how to build up a business, but it's also about how to build up a business when you have nothing. So it's a motivational read for those who are determined to achieve their goals.
5. Think and Grow Rich by Napoleon Hill
Think and Grow Rich is called the ‘Granddaddy of all motivational literature. It’s one of the very first books that boldly proclaims what makes a winner. Think and Grow Rich was first published in 1937. Hill accumulated all the success stories of great entrepreneurs and crafted a road map for success. In this book, Hill tells life stories of Henry Ford, Andrew Carnegie, Thomas Edison and illustrates their business and life principles and more than anything what shaped the winner out of them.
6. How to Get Rich by Felix Dennis
Honest autobiography of Felix Dennis is one of the best sellers when it comes to business reads. Felix was a college dropout with no money but with determination to work hard, he built up a publishing empire. He started Maxim Magazine and made himself one of the most influential and richest people in UK. This book talks about his journey. So if you want to absorb life lessons from success stories, this one should be one of the first few on your bucket list.
7. Work The System By Sam Carpenter
This book addresses the burning question of what to do to prevent a crisis in the first place? In this book, Sam says that the universe is working in a synchronised manner and 99.9% correctly all the time, so if something isn't working or something leads to a chaotic situation that means the sync is disturbed. As per the author, undesirable consequences always flow from a systemic input that can be easily fixed. So it will motivate you amidst unfavourable situation.
8. Conscious Capitalism By John Mackey and Raj Sisodia
Many successful people in business have used this book as the blueprint. Conscious capitalism is a must read for anyone who is striving to build a successful business. Both the authors argues that capitalism and business are inherently good and mandatory for the improvement of human history. You can read this book to understand the fact regarding stakeholder integration, conscious leadership and different management aspects. These three can help you to plan for the firm foundation of your business. As per Kip Tindell the co-founder and CEO of the Container Store, there is no book which can simplify hard facts of business like this one.
9. The Star Principle by Richard Koch
Richer Koch is one of the most discussed marketing and business wizards of our time. And in his, this book the #435 of the Times of London Rich List on 2016 is talking about formulas about getting rich. Most importantly this book contains his elegant tricks of growing his fortune from $4milliom to almost $400 million in just 25 years. So if you are serious about being successful as an entrepreneur, you can’t afford to miss reading this book.
10. Winning through Intimidation: How to be the Victor, Not the Victim in Business and in Life by Robert Ringer
The name says it all, isn't it? Still, after more than three decades, this one is the most talked about personal skill development books.It teaches you tricks about how to defend yourself against bullies of life and world. It makes you well aware of skills that will help you to plan for your future in a better way. This book comes with a set of unique skills, ideas and strategies that will be helpful for you to plan how to start your own initiative. By implementing those unique ideas, you will be able to place your name in the business world as one of the successful business owners.
These books will provide you with the motivation which you need in abundance when you are planning to be your own boss. So now with these books, you know what to expect from yourself in the next five years. But while you are planning and improving yourself with these books, what about your college's projects and assignments? Those are also highly important, right? You don't need to worry about pending assignments when we are at your service. Enjoy these good reads and keep us posted how these are shaping a business tycoon out of you. Until then leave your assignments woes to us.
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