Theme: Education

WHAT BOOKS (AND SKILLS) DO I NEED TO RUN A BUSINESS?

I answer this question regularly, but there is no mystery the basic skills necessary to succeed in any business – before you master the particulars of that business:

You can take a community college course in the first two semesters of accounting. Read “Economics in one lesson” because accounting generally fails this test and so we tend to overestimate financial viability in modern accounting developed during the age of ‘extreme growth’.

Then take one in banking in finance and you’ll know all there is to know. Read Rothbard’s “The Mystery of Banking” and prepare to be horrified.

Then take one in basic contracts. (and follow me and us to understand natural law). You’ll do better using contract law on TOP of natural law – because otherwise it’s easy to err.

Then take one class basic project management. It’s all just lists, estimating, and details. But if you get it, it’s infinitely valuable because you’ll never underestimate how hard it is to get people to do anything complicated. 😉

Next, read Basic Marketing by McCarthy.

Finally read ‘how to win friends and influence people’, for management and sales

And “Ogilvy on Advertising” for brand and advertising.

If you know this minimum body of work, I mean, you’re better prepared for the business world than most college graduates in any field at all.

If you understand my work you’d be far better prepared than most business schools.

The rest of entrepreneurship is (a) being good at doing something that allows you to serve an unserved, underserved, or new market. (b) realizing it’s mostly sales, service, and building reputation (c) realizing you’re going to have to work harder than all but other entrepreneurs by a long stretch, (d) maintaining discipline on prioritization of customers, (product/service) and revenue and NOT either focusing internally or going to market early, and instead slowly accumulating capital.

hugs