I have to admit, just a couple years ago, I hated reading. It always seemed like hours and hours of B.S. in order to find out that the imaginary hero saved the day and got the girl. This all changed when I was introduced to books dedicated to success and financial education. I realized that even if your time is very valuable, if one $15 book makes a positive impact on a business decision, the time and money are well worth it.
Some of the most successful people in the world claim to read more than an hour a day. Don’t be afraid to pick up a book and read it. The risk versus reward for financial education is a no-brainer. These books are filled with anecdotes that can save or make you thousands of dollars.
The Best books About Success:
How to Win Friends and Influence People by Dale Carnegie was first published in 1934, but its philosophies are still extremely effective in today’s world. The book is filled with techniques that will increase your effectiveness when interacting with others across multiple settings. It’s much easier to have a conversation with someone when they think you are actually paying attention to what they are saying. The book emphasizes respecting others opinions and always beginning conversations with a friendly tone. If you read this book and follow its guidelines, you will immediately notice a difference when dealing with co-workers, bosses, partners, and relationships.
Cash Flow Quadrant by Robert Kiyosaki defines the difference between working for money and making money work for you. The book states that there are four brackets for producing income: Employee, Self-Employed, Investor, and Business Owner. Employees and Self-Employed workers work for their money and, therefore, if they stop working, their income stops as well. Business owners and investors use systems, rather than their time, to generate income. The system business owners and investors utilize create passive income that stays in place whether their time is available or not. As the title suggests, the book suggests investing for cash flow, rather than lump sums. Like its predecessor, Rich Dad, Poor Dad, this book is very straight forward, but its implications are extremely important when making initial decisions of how to conduct your business.
The Millionaire Next Door by Thomas J. Stanley and William D. Danko is based on research done by the authors in an attempt find out what millionaires do that most households don’t. The result is shocking: most non-millionaires spend less than they earn. The book shows that many successful business people in high-income brackets are constantly struggling to breathe due to their ever-increasing expenses and debt levels. What many readers may find surprising is that most millionaires live very frugally. Most millionaires don’t drive Ferraris and they don’t have fetishes for jewelry. The most important point of this book is that most non-millionaires will never attain “financial freedom” because there increasing “necessities” always exceed their level of income. On the other hand, when millionaires receive a surplus of capital, they use it to invest in a profitable assets. No matter how much money most people make, they will never gain financial freedom unless they learn to invest properly, rather than spend.
Think and Grow Rich by Napoleon Hill is based on the conclusions the author came to after interviewing more than 500 millionaires over the span of 20 years. Henry Ford, J. P. Morgan, and John D. Rockefeller are all included in this successful classic. The book outlines 16 lessons of success that, if followed, can lead anyone to their goals. The most important piece of information in this book is the encouragement the author gives readers to completely emerge themselves in the field that they desire to be successful in. If your goal is to be a CEO, you should read, write, walk, talk, eat, and sleep like a CEO. If your mind is devoted to being successful, the Law of Attraction suggests that you will accumulate a successful network. Very few entrepreneurs have been successful without a solid team to elevate their knowledge as well as challenge their ideas. Networking is absolutely crucial to success in any field.
The Four Hour Work Week by Timothy Ferris is the guidebook to automating your business. The author stresses the importance of doing everything with the end result in mind. Ferris suggests you only do things that help you reach your desired goals. Stop dwiddling through emails to satisfy your need to “seem busy.” Do what you need to do and move on. The thesis of the book is that your dreams are easily attainable if you only do things directly related to achieving them. Like most of these books, Ferris breaks down monthly expenses so that you can see how attainable your financial goals are if you think of income in terms of monthly cash flow. Ferris refers the 80/20 principle to explain how quickly results can be achieved if you focus on what is most efficient. If you eliminate the 80% of the work that doesn’t award you results, you will have a great amount of time to travel, start a new business, or spend time with your kids without decreasing your net outcome. Ferris believes that generating passive income is the only road to true financial freedom. This book is the most truthful, most powerful book written on the topic.
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- Hunter Thompson