7 Insightful Business Books Young Entrepreneurs Should Read In 2024
Read the books to level up.
By Sukhbir Cheema — 19 Mar 2024, 04:53 PM
Being an entrepreneur is no easy feat. While you're not working for someone else, the pressure to succeed on your own terms and make it big can be immense
That said, if you're a learning machine, the probability of success greatly increases. Books are among the best tried-and-tested methods of acquiring knowledge.
Here's a handy list of books young entrepreneurs should read. These books were selected for their timely and timeless ideas.
1. Shoe Dog: A Memoir by the Creator of Nike by Phil Knight
Written by the founder of American sportswear giant Nike, Phil Knight's memoir will not only keep you on the edge of your seat with the story of how he brought Nike to profitability, but also provide insight into the realities of building a company from the ground up.
What I loved about the book was Knight's casual and honest manner in retelling the story of how he built Nike into the behemoth that it is now.
The book is packed with lots of memorable moments that will hopefully inspire you.
2. Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger by Charlie Munger
"Spend each day trying to be a little wiser than you were when you woke up," Charles T. Munger (popularly known as Charlie Munger) once said.
Munger was billionaire Warren Buffett's right-hand man and I feel he can be greatly credited for Buffett's success. The late investor considered himself a "learning machine", and he introduced me to the concept of mental models.
His biography analyses his story and thinking methods, alongside his investing style and rationale behind his shrewd business decisions. While the book might be the most expensive on this list, if you get your hands on it, keep it safe and read it from cover to cover because business and life advice is timeless.
3. Million Dollar Weekend: The Surprisingly Simple Way to Launch a 7-Figure Business in 48 Hours by Noah Kagan
While the title of the book is misleading (it's impossible to achieve a seven-figure business in 48 hours), Kagan's book is perfect for entrepreneurs who are just starting out.
If you've been thinking of dipping your toes in the great sea of entrepreneurship but haven't had a clue on where to start, this book provides a step-by-step guide from launching your business to growing it.
Kagan, the founder of AppSumo, has immense experience, and his book is an easy read. I wouldn't recommend it to seasoned entrepreneurs though, as the majority of his ideas are mostly targeted at new entrepreneurs.
4. Street Kung Fu: Street Wisdom Of Successful Businesses by Howard Khoo
So far, this list is extensively dominated by titles that come from a Western perspective. But what about a business book from an Asian, specifically Malaysian perspective? This is where Khoo's book comes in.
The founder of Hing Yiap Group Bhd provides real-life advice from an Asian perspective, thanks to his four decades of experience in running a business. What I love about Khoo's book is his "street-smart" advice to business owners, something that is rare to find in business literature.
His book is jam-packed with real-life case studies that you can apply to your own business.
5. How I Built This: The Unexpected Paths to Success from the World’s Most Inspiring Entrepreneurs by Guy Raz
In case you didn't know, Raz runs a popular podcast channel, How I Built This, in which he interviews startup founders and business owners.
Part of what made the award-winning journalist's podcast successful is his storytelling ability and his pointed questions that get the personalities on his show to reveal and share how they think and make decisions. This book is a collection and a synthesis of some of his best episodes.
Included in the book are real-life strategies used by entrepreneurs to build their businesses, fend off competitors, and to make their company profitable.
6. Business Adventures by John Brooks
Buffett had recommended this book to Microsoft founder Bill Gates, calling it "the best business book I've ever read."
Written in 1969, Brooks' collection of 12 essays chronicles the success and failures of famed American businesses and all the stories are still instructive and relevant today.
You'll learn about various topics, from what caused the Ford Edsel to struggle to live up to its promise, to the US stock market crash of 1962, which was caused by panic.
7. Influence: The Psychology of Persuasion by Dr. Robert Cialdini
Wise entrepreneurs will know that for a company to be sustainable, its founders must learn how to sell.
Selling, however, involves psychology, and who better to get the best tips from than Cialdini, a trained psychologist and professor with a deep understanding of the human psyche.
In his book, touted as a must-read by Munger, Cialdini reveals some of the strategies used by master salesmen to persuade, manipulate, and influence you to buy.
While he cautions you to not try some of these strategies, reading this book will also serve as self-defence since it provides insight into the tactics used by salesmen to gain your trust and ultimately your hard-earned money.
