You don’t need an MBA to run a successful business. But seeking words of wisdom from those with business savvy will equip you with the confidence and know-how to successfully start and run your business. Click through for our top picks for business management books that will help you better run your small business.
The E-Myth Revisited by Michael E. Gerber
Budding entrepreneurs on the hunt for business management books that don’t sugarcoat the realities of entrepreneurship should read this myth-busting bestseller before hanging out their shingle. Gerber dispels the “e-myth,” that is, the entrepreneurial myth that skilled entrepreneurs start most businesses. Gerber argues that this isn’t the case. He also says that “80 percent of small businesses that survive the first five years fail in the second five.”
The author offers four core ideas that explain why success in business is so hard-fought, including a business development process that can help you avoid the pitfalls of launching and running a business so that you don’t become another statistic.
Start With Why by Simon Sinek
One of the best business management books for developing one’s leadership skills, “Start With Why” asserts that people only buy products or services when they understand its fundamental driver, that is, the “why” behind it. He then concludes that the answer to why certain leaders are change makers and others struggle to make an impact. Quite simply, its the successful ones who keep the answer to the question of “Why?” in the back of their minds. They use the “why” to inform their managerial style, inspire their teams, and draw out the best from them. Sinek offers three approaches through which you can do the same for your business.
Raving Fans by Kenneth Blanchard and Sheldon Bowes
If you give customers what they want, they’ll become raving fans of your business, according to the authors of this book about how to deliver stellar customer service. But giving customers what they want requires defining a service vision. Then the next steps are understanding what makes customers tick and putting into place systems that meet those needs. Blanchard and Bowes cover each of these elements in depth so that you can deliver on the promises you make to your customers and grow your customer base.
The Accounting Game: Basic Accounting Fresh from the Lemonade Stand by Darrell Mullis
Do the words “assets,” “liabilities,” and “earnings” send you into a tailspin? Make this book a permanent fixture on your desk. Mullis breaks down all the accounting basics in a simple and fun and interactive, game-like format. The book includes charts and worksheets so you can test your knowledge of the concepts you have learned and apply them in the real world.
7 Habits of Highly Effective People by Stephen Covey
Self-awareness and personal responsibility are as meaningful as business acumen in the management of a business. This 30-year-old bible for entrepreneurs fosters these attributes in leaders by examining why so many people feel stifled in their professional and personal relationships and how altering perceptions and undergoing personal transformation is the secret to getting out of this rut. To that end, Covey lays out seven traits of the successful and how to put them into play to overcome self-limiting beliefs and achieve one’s potential.
MileIQ’s blog does not constitute professional tax advice. You should contact your own tax professional to discuss your situation.