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17 Books To Read If You Want To Become A Billionaire

17 Books To Read If You Want To Become A Billionaire

Success is magnetic. As a species, we’re constantly studying how it happens, why it happens, who has achieved it for themselves, and how we can obtain it.

One thing is for sure: money is an echo of value. Those who bring great products, services, businesses, and ideas into the world are rewarded (at least somewhere along the way) with financial gain. Some of these people even become billionaires. Now, it’s not to say money is everything (it’s not), but having financial freedom certainly makes life more flexible and filled with opportunity.

For all the hubbub surrounding success, most of the attention is often swallowed up with the aesthetics of materialism. Getting a nice house, car, plenty of money to go around, and buying anything you want are still considered goals by thousands in developed countries.

In spite of this, in order to break through the typical barriers that withhold people from achieving success, there’s a ton of hard work involved. Experience, skill, grit, and emotional intelligence all contribute to success; one can be sure of this. But what’s the piece most people overlook or underestimate? Having certain knowledge others neglect.

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Here, I’ve compiled a list of 17 books to read if you want to become a billionaire. Take these one at a time and enjoy!

1. How The Scots Invented The Modern World

Billionaires point to this book because, in many ways, essential understandings of economics, free markets, and product innovation can be gleaned from it. Written by Arthur Herman, it’s a vital book for anyone seeking to understand the core of how modern economics functions.

2. Guns, Germs, And Steel: The Fates Of Human Societies

Authored by Jared Diamond, this particular book is similar to Scots, but different in the sense that it covers more details regarding societies. Guns, Germs, and Steel breaks down why certain civilizations lasted longer than others and how this was accomplished. It’s a collection of keen insights into how and why some people outsmart their environments (whether they be war-ravaged or not).

3. Influence: The Psychology Of Persuasion

An absolute classic on the power of how to get things done your way, Robert Cialdini takes persuasion to a new level here. Breaking down the six pillars of how to get people to like you and legitimately want to help you, Influence is a must-have guidebook on how to uphold the best in people while achieving your own goals.

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4. Titan: The Life Of John D. Rockefeller, Sr.

At about 800 pages long, this book is certainly not a speed-read. However, there’s no book more ideal for learning about one of history’s richest men. If you want a detailed discourse on the rising of Rockefeller, look no further than Titan. At the very least, it will reinforce some helpful success principles, and perhaps help you avoid a few mistakes of your own.

5. The Warren Buffett Portfolio: Mastering The Power Of The Focus Investment Strategy

Recommended by billionaire Charlie Munger, there’s perhaps no better book on Warren Buffett’s own investment strategy. While you can’t expect to read this book and then have perfect investing knowledge overnight, it’s indisputably an advantage over other forms of traditional education. Why not learn from arguably the most successful investor of all time?

6. Getting To Yes: Negotiating Agreement Without Giving In

By Roger Fisher, William Ury, and Bruce Patton, this book has long been regarded as a superior business text in thousands of college classrooms and company boardrooms. Similar to How To Win Friends And Influence People by Dale Carnegie, Getting To Yes takes aim at extremely powerful negotiation techniques. Much of the book’s content includes how to talk about an issue rather than belittling a person, aiming for mutual benefit, and remaining politely persistent.

7. The Wealth And Poverty Of Nations: Why Some Are So Rich And Some So Poor

In short, this book is about why some economic pursuits succeed while others have not and will not. If you want to understand why people go after what they go after in regards to business, this is a vital read.

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8. Things Hidden Since The Foundation Of The World

In René Girard’s paradigm-shattering work, he deconstructs many of the traditionally held beliefs and systems many of us have worked through or on for centuries. Girard’s argument is that even though many individuals strive to be distinct in the world, this particular drive can have counterintuitive and occasionally undesired effects.

9. How Children Succeed: Grit, Curiosity, And The Hidden Power Of Character

In a wonderfully refreshing read, How Children Succeed takes the reader on a journey through varying cultural and economic backgrounds. Author Paul Tough accurately points out how one’s intellect is not always tied to academic achievement, as well as similar comparisons. A fascinating and insightful read for those interested in helping and developing upcoming generations.

10. Creativity, Inc.: Overcoming The Unseen Forces That Stand In The Way Of True Inspiration

Written by creative powerhouse Ed Catmull (co-founder of Pixar), this recent book breaks down how teams of artists and creative engineers can work fluidly and get their best work done. It’s an essential guidebook for anyone who’s interested in filmmaking, music, visual art, or other artistic/creative endeavors.

11. Inside The Tornado: Strategies For Developing, Leveraging, And Surviving Hypergrowth Markets

A book adored by Steve Jobs, Inside The Tornado is an unusually helpful read on how the success of tech companies can be applied to up-and-coming startups. Author Geoffrey Moore also goes to the length of providing techniques on how to remain prosperous in spite of rapidly changing markets and consumer demands.

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12. The Intelligent Investor

One of the most highly acclaimed investing books of all time, this work by Benjamin Graham can’t be missed for those serious about profiting from investments. Read by Warren Buffett at age 19, the investing maven himself has consistently referred to it as one of his best self-education choices.

13. Good To Great

This classic business book was written in 2001 by Jim Collins, the famed company and entrepreneurship growth expert. His work examines the leadership traits necessary to take any company from just average to true greatness, reaping larger financial profit, massive employee fulfillment, and deeper cultural impacts in the process.

14. The Power Of Now

In Eckhart Tolle’s insanely popular work, the spiritual writer enables entrepreneurs even further by describing how to prevent yourself from defeating yourself. The crux of the book deals with learning how to make the absolute most of any situation you find yourself in.

15. Outliers: The Story Of Success

In what many regard as Malcolm Gladwell’s most successful work, the illustrious thinker examines the how, what, and why of various successful achievements across multiple fields. This book is an oft-returned-to discourse on the precise mechanics of how success is accomplished.

16. How To Win Friends And Influence People

There’s perhaps no more famous book on evergreen sales techniques and general principles for getting your way in life. Dale Carnegie’s time-tested, monolithic work of non-slimy persuasion hacks is filled with anecdotes and practical tips on how to master any conversation and achieve leverage within business aims.

17. Think And Grow Rich

Napoleon Hill first wrote this classic in 1937, and ever since, hundreds of thousands of entrepreneurs have pointed to it as the most important read on personal success principles. Hill’s book breaks down the psychological barriers everyone faces on the road to success, and how changing your thought patterns can directly affect your life’s trajectory.

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Brad Johnson

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Last Updated on September 29, 2020

How to Start an Online Business That Will Grow and Succeed

How to Start an Online Business That Will Grow and Succeed

Unsurprisingly enough, all businesses are online today. Considering the advances in the smartphone industry as well as the increasingly accessible internet facility, it was only a matter of time before businesses took advantage of the online environment.

This increasing popularity makes for a promising future for a lot of young entrepreneurs. And knowing how to start an online business will open up a world of possibilities for you that was not possible 10 years ago.

So, keeping the potential for exponential growth in mind, let’s dive into the article below, and explore the steps of starting an online business that will bring you success.

1. Becoming the Master of ‘ONE’ Trade

Most successful online businesses are the master of one trade. And that’s why beginning with a niche is always a good idea.

A niche market is a focused segment within a larger market. Imagine a men’s shoes market and then, imagine handcrafted brown Italian leather shoes for men. While the previous one is a bigger market, the latter one is simply a more focused segment within that market.

Knowing the niche helps a lot to start an online business and if you are feeling a bit lost, here are some self-queries that will act as a perfect guide:

What Speaks to Your Heart?

This first way of discovering the niche is perfect for those who want to do what they love. Working in a market that you love will ensure that constant excitement and drive to do better, eventually leading to ultimate prosperity.

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Decisions Based on Knowledge

The second way is perfect for those who have a lot of untapped knowledge about a specific industry. Utilizing the insights on a specific industry is a great way to find a niche. This way, you’ll already know all the ins and outs of the industry and can easily get ahead of all the competitors.

Undiscovered Potential

Lastly, conducting research into various industries and finding an untapped segment is another amazing way of finding the right niche. This practice will require you to come up with a new and unique solution for uncatered audiences.

2. When Is Your Idea Valid?

All the great ideas for starting an online business needs to be valid. And once you have found the niche, this validation process is what comes next.

Proving the soundness of the idea is not at all hard. A detailed industry examination is all you need initially to understand the value of the concept and recalibrate it to turn into a great online business.

Market research is a systematic unraveling of the target market. This research will include all the information on the product/service you are about to sell, the target audience, and how the competitors are operating in this crowded market.

This in-depth research will give you the initial idea of how the products can make an impact in the outside world. And once the small online business ideas are validated, it will be time to move on and craft a plan and start working on establishing the business.

3. Crafting the Map to Success

Having a proper plan for an online business is like having a map when you travel to an unknown city. This is a document that includes all the factual information on the business and crucial business data.

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To help you out, here’s a list of all the information online business plans must include:

  • An idea of objective – The best online business plans always have a clear outline of the business goals and intentions. Having this clear outline will increase the efficiency of business functions later on. The target demographic, business model—all kinds of information needs to be a part of this document.
  • Taking stock of available resources – A startup needs to utilize all the resources it has, and that’s why the plan needs to have an in-depth outline of the financial resources in use as well as the employees and their expertise. With a better idea of all the resources in hand, starting an online business will be an easier process.

4. The Virtual Storefront: A Process of Development

The steps of how to start an online business are incomplete without the website creation process. With the right website approach, you can easily succeed in increasing business revenue.

What does that perfect business website look like? Let’s follow these steps to create an effective business website.

Choose Your Approach

There are numerous ways of making a website and for a positive outcome, you need to choose the perfect approach. Depending on the business model, initial finances, and end goals, there are two kinds of approaches for the online storefront:

  • Third-party approach – Third-party platforms will connect you with the customers out there. For small online business ideas, Creating an account or site with these platforms will be beneficial because these platforms come with a large array of services as well as a big enough existing consumer base ready to utilize.
  • Creating a new website –  A business-specific website will help you eliminate the third party go-between and connect directly with the buyers. With this approach, you get more control over the business and how it is presented to the consumers out there and the revenue you make. Any of the above-mentioned approaches can be beneficial for easy online business startups. However, to achieve some specific business goals, having a customized website will be more beneficial for you.

Design Can Bring You Maximum Success!

For those who have decided to create their own site, the design is of paramount importance. With a great design, you will be able to engage and interact with the visitors better and encourage them to make a purchase.

The design, however, is not just a matter of aesthetics. A website’s design encompasses all aspects of it, from the visual effects to the content that’s used on the site.

To create a truly amazing design that reflects new online business concepts here are a few matters to consider:

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  • Keep it responsive – Many markets are simply skipping over the desktop phase and launching the business for mobile users around the world.[1] Considering this popularity of the mobile internet market, the business website has to be responsive. This approach will help you to reach a bigger audience and conduct business on a larger scale.
  • Users want a fast experience – Using high-quality images on the site does improve the visuals, but make sure all those images are compressed. Having a faster website will enhance the user experience on the site. Besides compressing all the media content on the site, you can also utilize an asynchronous loading technique that loads all the contents simultaneously, reducing friction. With a faster site, it will become easier to implement the online business startup ideas into reality.
  • Define the brand – The design stage determines a lot of things for the business website and one of those things is the business image. To make an impact on the world with the business, you have to create a perfect image and for that, a brand guide is necessary. The brand guide is a document that includes all the information and guidelines on various visual elements on the site that makes up the business personality. Based on the kind of image you want to create, all the elements will be outlined in this documentation.

Where the Website Becomes Reality

Since we know how website design helps to launch a successful online business, it is time to move onto development. Online business development is where the idea becomes a reality. And to make this reality perfect, you need to make sure that the development and deployment process goes well.

A high performing site always includes all the right features that enhance the user experience as well as helps you to convert more traffic. And for the best results, ensure the use of only the latest tech stack during development.

Here are some development issues you have to pay attention to while building the business website:

  • The right partner makes all the difference – For small startups who are wondering how to start an online business, finding the right development partner is going to make all the difference. However, before making a decision, there are a few things you should contemplate. The team that you are about to hire should have experience in catering to your industry, as well as an extensive portfolio and good reviews. Additionally, it will be perfect if the agency or freelancer also provides a 360-degree service, from development to maintenance.
  • How to assure the quality of the site? – Testing the site is an integral part of the answer to the question of “how to start an online business?”. An experienced partner will be able to help you the most with this. From security testing to split testing, this stage in development will help in understanding how well the site functions and what needs to change. And once the changes are made and the test results come clean, it will be time to launch the website.

5. Some Tricks to Increase Online Sales

Selling online is not easy, but not hard either. In a physical store, you can use campaigns, go door to door with pamphlets, and such. However, successful online businesses have their own style of campaigns that helps them to sell more without any problems.

So, what are these tricks?

Utilize the Magic of SEO

With an increase in quality traffic, the sales ratio will go up too. And to drive quality traffic on the website, you need to utilize the SEO tricks, and probably hire an SEO expert.

When starting an online business site, ensure all the content on the site is optimized to rank for the right queries by target consumers. With a higher rank on the SERP, the traffic will increase on the site.

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With the increase in quality traffic, it will become easier for you to convert visitors. The visitor data will help you to adjust the site performance. In brief, utilizing SEO will open the doors to a lot of possibilities for your small online business ideas.[2]

Entice With Free Value

Consumers today have lots of options to choose from. And keeping all that in mind, it will be wise to create a business plan for an online startup that provides free value to the users before asking them to buy something.

Consumers want to buy from someone who knows what they are doing, especially in the case of a curated service or goods provider. And that’s why to turn the profitable online business ideas even more effective, you need to start offering free value on the site, with free products and content.

Having a blog is also another way of displaying your expertise. With specialized content on the industry, you can easily grab the attention of the audience. And once assured of your knowledge on the matter, consumers will feel a lot safer about making a purchase.

A Killer Customer Service Is Everything

Your small online business idea needs a better service option. Using AI-based interactive features to implement better support for the global consumer base will prove to be extremely beneficial. With a 24/7 automated support channel, customers will be satisfied with your business and come back more often.

It’s an Easy Process: All You Have to Do Is to Start

And there it is, the simple five-step process of starting an online business that is bound to succeed. If you look closely, you’ll notice that there are not a lot of differences between creating a physical business and an online one. The main differences are only in the consumer and competitive landscape.

While a physical store faces and caters to local competitors and consumers, the online business has to deal with the same on a global basis. So, focusing well on the global market landscape while crafting the plan will help you succeed.

More Tips on How to Start an Online Business

Featured photo credit: Austin Distel via unsplash.com

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